QBTS Fundamental Analysis - D-WAVE QUANTUM INC

Name: D-WAVE QUANTUM INC (QBTS) Stock
Brand: D-WAVE QUANTUM INC
Rating: 6.5 (3 reviews)

Fundamental Rating

Overall QBTS gets a fundamental rating of 3 out of 10. We evaluated QBTS against 281 industry peers in the Software industry. QBTS scores quite bad on profitability, while its financial health is fine. Not spectacular, but in line with the averages. QBTS is valied quite expensively at the moment, while it does show a decent growth rate.

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1. Profitability

1.1 Basic Checks

In the past year QBTS has reported negative net income.

In the past year QBTS has reported a negative cash flow from operations.

In the past 5 years QBTS always reported negative net income.

QBTS had a negative operating cash flow in each of the past 5 years.

1.2 Ratios

The Return On Assets of QBTS (-40.54%) is worse than 80.70% of its industry peers.

With a Return On Equity value of -63.64%, QBTS is not doing good in the industry: 72.63% of the companies in the same industry are doing better.

		Industry Rank	Sector Rank
ROA	-40.54%
ROE	-63.64%
ROIC	N/A

ROA(3y)-134.18%

ROA(5y)-104.08%

ROE(3y)N/A

ROE(5y)N/A

ROIC(3y)N/A

ROIC(5y)N/A

1.3 Margins

The Gross Margin of QBTS (83.23%) is better than 90.88% of its industry peers.

In the last couple of years the Gross Margin of QBTS has declined.

QBTS does not have Profit Margin and Operating Margin available, so we won't be analyzing them here.

		Industry Rank	Sector Rank
OM	N/A
PM (TTM)	N/A
GM	83.23%

OM growth 3YN/A

OM growth 5YN/A

PM growth 3YN/A

PM growth 5YN/A

GM growth 3Y-4.4%

GM growth 5YN/A

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ROA

ROE

ROIC

Operating and Profit Margin

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2. Health

2.1 Basic Checks

QBTS does not have a ROIC to compare to the WACC, probably because it is not profitable.

Compared to 1 year ago, QBTS has more shares outstanding

Compared to 1 year ago, QBTS has an improved debt to assets ratio.

2.2 Solvency

An Altman-Z score of 48.93 indicates that QBTS is not in any danger for bankruptcy at the moment.

The Altman-Z score of QBTS (48.93) is better than 97.54% of its industry peers.

QBTS has a Debt/Equity ratio of 0.15. This is a healthy value indicating a solid balance between debt and equity.

With a Debt to Equity ratio value of 0.15, QBTS perfoms like the industry average, outperforming 51.23% of the companies in the same industry.

		Industry Rank	Sector Rank
Debt/Equity	0.15
Debt/FCF	N/A
Altman-Z	48.93

ROIC/WACCN/A

WACC11.01%

2.3 Liquidity

A Current Ratio of 20.73 indicates that QBTS has no problem at all paying its short term obligations.

QBTS's Current ratio of 20.73 is amongst the best of the industry. QBTS outperforms 98.60% of its industry peers.

QBTS has a Quick Ratio of 20.61. This indicates that QBTS is financially healthy and has no problem in meeting its short term obligations.

With an excellent Quick ratio value of 20.61, QBTS belongs to the best of the industry, outperforming 98.60% of the companies in the same industry.

		Industry Rank	Sector Rank
Current Ratio	20.73
Quick Ratio	20.61

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WACC

Debt/Equity

How to determine the health of a company

Altman-Z score

Show peers with great health

3. Growth

3.1 Past

QBTS shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 45.24%, which is quite impressive.

QBTS shows a small growth in Revenue. In the last year, the Revenue has grown by 0.79%.

Measured over the past years, QBTS shows a quite strong growth in Revenue. The Revenue has been growing by 12.02% on average per year.

EPS 1Y (TTM)45.24%

EPS 3YN/A

EPS 5YN/A

EPS Q2Q%37.5%

Revenue 1Y (TTM)0.79%

Revenue growth 3Y12.02%

Revenue growth 5YN/A

Sales Q2Q%99.95%

3.2 Future

The Earnings Per Share is expected to grow by 16.18% on average over the next years. This is quite good.

Based on estimates for the next years, QBTS will show a very strong growth in Revenue. The Revenue will grow by 90.35% on average per year.

EPS Next Y33.27%

EPS Next 2Y15.83%

EPS Next 3Y12.74%

EPS Next 5Y16.18%

Revenue Next Year172.69%

Revenue Next 2Y106.19%

Revenue Next 3Y99.02%

Revenue Next 5Y90.35%

3.3 Evolution

When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is accelerating.

More info and screens

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4. Valuation

4.1 Price/Earnings Ratio

QBTS reported negative earnings for the last year, which makes the Price/Earnings Ratio negative.

Besides the negative Price/Earnings Ratio, also the Forward Price/Earnings Ratio is negative for QBTS. No positive earnings are expected for the next year.

		Industry Rank	Sector Rank
PE	N/A
Fwd PE	N/A

4.2 Price Multiples

		Industry Rank	Sector Rank
P/FCF	N/A
EV/EBITDA	N/A

4.3 Compensation for Growth

A more expensive valuation may be justified as QBTS's earnings are expected to grow with 12.74% in the coming years.

PEG (NY)N/A

PEG (5Y)N/A

EPS Next 2Y15.83%

EPS Next 3Y12.74%

More info and screens

Show best valued peers

5. Dividend

5.1 Amount

QBTS does not give a dividend.

		Industry Rank	Sector Rank
Dividend Yield	N/A

More info and screens

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D-WAVE QUANTUM INC

NYSE:QBTS (11/7/2025, 8:10:32 PM)

After market: 30.15 +0.65 (+2.2%)

29.5

+1.11 (+3.91%)

Chartmill FA Rating

GICS SectorInformation Technology

GICS IndustryGroupSoftware & Services

GICS IndustrySoftware

Earnings (Last)11-06 2025-11-06/bmo

Earnings (Next)N/A N/A

Inst Owners45.86%

Inst Owner Change8.2%

Ins Owners0.57%

Ins Owner Change-1.57%

Market Cap10.09B

Revenue(TTM)8.83M

Net Income(TTM)-131.99M

Analysts82.5

Price Target26.83 (-9.05%)

Short Float %13.64%

Short Ratio0.83

Dividend

		Industry Rank	Sector Rank
Dividend Yield	N/A

Yearly DividendN/A

Dividend Growth(5Y)N/A

DPN/A

Div Incr Years0

Div Non Decr Years0

Ex-DateN/A

Surprises & Revisions

EPS beat(2)2

Avg EPS beat(2)23.68%

Min EPS beat(2)14.34%

Max EPS beat(2)33.03%

EPS beat(4)3

Avg EPS beat(4)11.76%

Min EPS beat(4)-0.88%

Max EPS beat(4)33.03%

EPS beat(8)5

Avg EPS beat(8)1.46%

EPS beat(12)7

Avg EPS beat(12)-3.84%

EPS beat(16)N/A

Avg EPS beat(16)N/A

Revenue beat(2)1

Avg Revenue beat(2)17.33%

Min Revenue beat(2)-4.07%

Max Revenue beat(2)38.73%

Revenue beat(4)1

Avg Revenue beat(4)-4.33%

Min Revenue beat(4)-27.66%

Max Revenue beat(4)38.73%

Revenue beat(8)1

Avg Revenue beat(8)-14.83%

Revenue beat(12)1

Avg Revenue beat(12)-17.76%

Revenue beat(16)N/A

Avg Revenue beat(16)N/A

PT rev (1m)12.88%

PT rev (3m)30.77%

EPS NQ rev (1m)0%

EPS NQ rev (3m)0%

EPS NY rev (1m)0%

EPS NY rev (3m)-44.51%

Revenue NQ rev (1m)0%

Revenue NQ rev (3m)0%

Revenue NY rev (1m)0%

Revenue NY rev (3m)1.17%

Valuation

		Industry Rank	Sector Rank
PE	N/A
Fwd PE	N/A
P/S	472.29
P/FCF	N/A
P/OCF	N/A
P/B	48.65
P/tB	48.78
EV/EBITDA	N/A

EPS(TTM)-0.21

EYN/A

EPS(NY)-0.23

Fwd EYN/A

FCF(TTM)-0.15

FCFYN/A

OCF(TTM)-0.15

OCFYN/A

SpS0.06

BVpS0.61

TBVpS0.6

PEG (NY)N/A

PEG (5Y)N/A

Graham NumberN/A

Profitability

		Industry Rank	Sector Rank
ROA	-40.54%
ROE	-63.64%
ROCE	N/A
ROIC	N/A
ROICexc	N/A
ROICexgc	N/A
OM	N/A
PM (TTM)	N/A
GM	83.23%
FCFM	N/A

ROA(3y)-134.18%

ROA(5y)-104.08%

ROE(3y)N/A

ROE(5y)N/A

ROIC(3y)N/A

ROIC(5y)N/A

ROICexc(3y)N/A

ROICexc(5y)N/A

ROICexgc(3y)N/A

ROICexgc(5y)N/A

ROCE(3y)N/A

ROCE(5y)N/A

ROICexgc growth 3YN/A

ROICexgc growth 5YN/A

ROICexc growth 3YN/A

ROICexc growth 5YN/A

OM growth 3YN/A

OM growth 5YN/A

PM growth 3YN/A

PM growth 5YN/A

GM growth 3Y-4.4%

GM growth 5YN/A

F-Score5

Asset Turnover0.07

Health

		Industry Rank	Sector Rank
Debt/Equity	0.15
Debt/FCF	N/A
Debt/EBITDA	N/A
Cap/Depr	171.34%
Cap/Sales	10.07%
Interest Coverage	N/A
Cash Conversion	N/A
Profit Quality	N/A
Current Ratio	20.73
Quick Ratio	20.61
Altman-Z	48.93

F-Score5

WACC11.01%

ROIC/WACCN/A

Cap/Depr(3y)94.96%

Cap/Depr(5y)91.48%

Cap/Sales(3y)12.68%

Cap/Sales(5y)17.04%

Profit Quality(3y)N/A

Profit Quality(5y)N/A

High Growth Momentum

Growth

EPS 1Y (TTM)45.24%

EPS 3YN/A

EPS 5YN/A

EPS Q2Q%37.5%

EPS Next Y33.27%

EPS Next 2Y15.83%

EPS Next 3Y12.74%

EPS Next 5Y16.18%

Revenue 1Y (TTM)0.79%

Revenue growth 3Y12.02%

Revenue growth 5YN/A

Sales Q2Q%99.95%

Revenue Next Year172.69%

Revenue Next 2Y106.19%

Revenue Next 3Y99.02%

Revenue Next 5Y90.35%

EBIT growth 1Y3.24%

EBIT growth 3YN/A

EBIT growth 5YN/A

EBIT Next Year-31.49%

EBIT Next 3Y-15.22%

EBIT Next 5YN/A

FCF growth 1Y-4.47%

FCF growth 3YN/A

FCF growth 5YN/A

OCF growth 1Y-1.04%

OCF growth 3YN/A

OCF growth 5YN/A

D-WAVE QUANTUM INC / QBTS FAQ

What is the ChartMill fundamental rating of D-WAVE QUANTUM INC (QBTS) stock?

ChartMill assigns a fundamental rating of 3 / 10 to QBTS.

What is the valuation status for QBTS stock?

ChartMill assigns a valuation rating of 0 / 10 to D-WAVE QUANTUM INC (QBTS). This can be considered as Overvalued.

Can you provide the profitability details for D-WAVE QUANTUM INC?

D-WAVE QUANTUM INC (QBTS) has a profitability rating of 1 / 10.

Can you provide the expected EPS growth for QBTS stock?

The Earnings per Share (EPS) of D-WAVE QUANTUM INC (QBTS) is expected to grow by 33.27% in the next year.

D-WAVE QUANTUM INC (QBTS) Stock Fundamental Analysis

1. Profitability

1.1 Basic Checks

1.2 Ratios

1.3 Margins

More info and screens

2. Health

2.1 Basic Checks

2.2 Solvency

2.3 Liquidity

More info and screens

3. Growth

3.1 Past

3.2 Future

3.3 Evolution

More info and screens

4. Valuation

4.1 Price/Earnings Ratio

4.2 Price Multiples

4.3 Compensation for Growth

More info and screens

5. Dividend

5.1 Amount

More info and screens

D-WAVE QUANTUM INC / QBTS FAQ

What is the ChartMill fundamental rating of D-WAVE QUANTUM INC (QBTS) stock?

What is the valuation status for QBTS stock?

Can you provide the profitability details for D-WAVE QUANTUM INC?

Can you provide the expected EPS growth for QBTS stock?