D-WAVE QUANTUM INC (QBTS) Fundamental Analysis & Valuation

NYSE:QBTS • US26740W1099

Current stock price

16.97 USD
+2.32 (+15.84%)
At close:
17.9504 USD
+0.98 (+5.78%)
After Hours:

This QBTS fundamental analysis includes valuation metrics, fair value assessment, financial health analysis, profitability trends, growth metrics and dividend sustainability analysis.

1

1. QBTS Profitability Analysis

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.
  • In the past 5 years QBTS always reported negative operating cash flow.
QBTS Yearly Net Income VS EBIT VS OCF VS FCFQBTS Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2020 2021 2022 2023 2024 2025 -100M -200M -300M

1.2 Ratios

  • QBTS has a Return On Assets of -46.06%. This is amonst the worse of the industry: QBTS underperforms 82.66% of its industry peers.
  • Looking at the Return On Equity, with a value of -59.48%, QBTS is doing worse than 71.59% of the companies in the same industry.
Industry RankSector Rank
ROA -46.06%
ROE -59.48%
ROIC N/A
ROA(3y)N/A
ROA(5y)N/A
ROE(3y)N/A
ROE(5y)N/A
ROIC(3y)N/A
ROIC(5y)N/A
QBTS Yearly ROA, ROE, ROICQBTS Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2020 2021 2022 2023 2024 2025 0 200 -200 -400

1.3 Margins

  • QBTS has a better Gross Margin (82.82%) than 87.08% of its industry peers.
  • QBTS's Gross Margin has been stable in the last couple of years.
  • QBTS does not have Profit Margin and Operating Margin available, so we won't be analyzing them here.
Industry RankSector Rank
OM N/A
PM (TTM) N/A
GM 82.82%
OM growth 3YN/A
OM growth 5YN/A
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y11.71%
GM growth 5Y0.08%
QBTS Yearly Profit, Operating, Gross MarginsQBTS Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2020 2021 2022 2023 2024 2025 0 -500 -1K -1.5K

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ROAROEROICOperating and Profit MarginShow most profitable peers

6

2. QBTS Health Analysis

2.1 Basic Checks

  • QBTS does not have a ROIC to compare to the WACC, probably because it is not profitable.
  • There is no outstanding debt for QBTS. This means it has a Debt/Equity and Debt/FCF ratio of 0 and it is amongst the best of the sector and industry.
QBTS Yearly Shares OutstandingQBTS Yearly Shares OutstandingYearly Shares Outstanding 2020 2021 2022 2023 2024 50M 100M 150M 200M 250M
QBTS Yearly Total Debt VS Total AssetsQBTS Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2020 2021 2022 2023 2024 50M 100M 150M

2.2 Solvency

  • An Altman-Z score of 15.99 indicates that QBTS is not in any danger for bankruptcy at the moment.
  • QBTS has a better Altman-Z score (15.99) than 94.83% of its industry peers.
  • QBTS has a Debt/Equity ratio of 0.05. This is a healthy value indicating a solid balance between debt and equity.
  • The Debt to Equity ratio of QBTS (0.05) is comparable to the rest of the industry.
Industry RankSector Rank
Debt/Equity 0.05
Debt/FCF N/A
Altman-Z 15.99
ROIC/WACCN/A
WACC10.46%
QBTS Yearly LT Debt VS Equity VS FCFQBTS Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2020 2021 2022 2023 2024 2025 0 20M -20M 40M -40M 60M -60M

2.3 Liquidity

  • A Current Ratio of 54.68 indicates that QBTS has no problem at all paying its short term obligations.
  • With an excellent Current ratio value of 54.68, QBTS belongs to the best of the industry, outperforming 99.26% of the companies in the same industry.
  • A Quick Ratio of 54.49 indicates that QBTS has no problem at all paying its short term obligations.
  • The Quick ratio of QBTS (54.49) is better than 99.26% of its industry peers.
Industry RankSector Rank
Current Ratio 54.68
Quick Ratio 54.49
QBTS Yearly Current Assets VS Current LiabilitesQBTS Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2020 2021 2022 2023 2024 50M 100M 150M

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WACCDebt/EquityHow to determine the health of a companyAltman-Z scoreShow peers with great health

7

3. QBTS Growth Analysis

3.1 Past

  • QBTS shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 30.37%, which is quite impressive.
  • The Revenue has grown by 178.54% in the past year. This is a very strong growth!
  • QBTS shows a strong growth in Revenue. Measured over the last years, the Revenue has been growing by 36.65% yearly.
EPS 1Y (TTM)30.37%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%-50%
Revenue 1Y (TTM)178.54%
Revenue growth 3Y50.78%
Revenue growth 5Y36.65%
Sales Q2Q%19.19%

3.2 Future

  • QBTS is expected to show quite a strong growth in Earnings Per Share. In the coming years, the EPS will grow by 15.35% yearly.
  • Based on estimates for the next years, QBTS will show a very strong growth in Revenue. The Revenue will grow by 76.71% on average per year.
EPS Next Y-37.87%
EPS Next 2Y-24.57%
EPS Next 3Y-12.16%
EPS Next 5Y15.35%
Revenue Next Year70.11%
Revenue Next 2Y81.26%
Revenue Next 3Y77.87%
Revenue Next 5Y76.71%

3.3 Evolution

  • The Revenue growth rate is accelerating: in the next years the growth will be better than in the last years.
QBTS Yearly Revenue VS EstimatesQBTS Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 100M 200M 300M 400M
QBTS Yearly EPS VS EstimatesQBTS Yearly EPS VS EstimatesYearly EPS VS Estimates 2022 2023 2024 2025 2026 2027 2028 2029 2030 0 -0.2 -0.4 -0.6

More info and screens

Find the best growth stocksShow best growing peers

0

4. QBTS Valuation Analysis

4.1 Price/Earnings Ratio

  • The Price/Earnings Ratio is negative for QBTS. In the last year negative earnings were reported.
  • 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 RankSector Rank
PE N/A
Fwd PE N/A
QBTS Price Earnings VS Forward Price EarningsQBTS Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 0 20 -20 -40 -60

4.2 Price Multiples

Industry RankSector Rank
P/FCF N/A
EV/EBITDA N/A
QBTS Per share dataQBTS EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 0.5 1 1.5

4.3 Compensation for Growth

  • A cheap valuation may be justified as QBTS's earnings are expected to decrease with -12.16% in the coming years.
PEG (NY)N/A
PEG (5Y)N/A
EPS Next 2Y-24.57%
EPS Next 3Y-12.16%

More info and screens

Price/EarningsPrice/FCFFCF per shareEV/EBITDAPEG RATIOShow best valued peers

0

5. QBTS Dividend Analysis

5.1 Amount

  • No dividends for QBTS!.
Industry RankSector Rank
Dividend Yield 0%

More info and screens

Find the best dividend stocksShow peers with best dividend

QBTS Fundamentals: All Metrics, Ratios and Statistics

D-WAVE QUANTUM INC

NYSE:QBTS (4/14/2026, 8:04:00 PM)

After market: 17.9504 +0.98 (+5.78%)

16.97

+2.32 (+15.84%)

Chartmill FA Rating
GICS IndustryGroupSoftware & Services
GICS IndustrySoftware
Earnings (Last)02-26
Earnings (Next)05-04
Inst Owners45.76%
Inst Owner Change0.01%
Ins Owners0.17%
Ins Owner Change-1.53%
Market Cap6.28B
Revenue(TTM)24.59M
Net Income(TTM)-398.81M
Analysts82.86
Price Target38.15 (124.81%)
Short Float %16.19%
Short Ratio2.52
Dividend
Industry RankSector Rank
Dividend Yield 0%
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)1
Avg EPS beat(2)-18.07%
Min EPS beat(2)-63.4%
Max EPS beat(2)27.25%
EPS beat(4)3
Avg EPS beat(4)2.8%
Min EPS beat(4)-63.4%
Max EPS beat(4)33.03%
EPS beat(8)5
Avg EPS beat(8)-1.25%
EPS beat(12)6
Avg EPS beat(12)-8.79%
EPS beat(16)N/A
Avg EPS beat(16)N/A
Revenue beat(2)2
Avg Revenue beat(2)20.59%
Min Revenue beat(2)20.33%
Max Revenue beat(2)20.85%
Revenue beat(4)3
Avg Revenue beat(4)18.96%
Min Revenue beat(4)-4.07%
Max Revenue beat(4)38.73%
Revenue beat(8)3
Avg Revenue beat(8)-4.64%
Revenue beat(12)3
Avg Revenue beat(12)-9.3%
Revenue beat(16)N/A
Avg Revenue beat(16)N/A
PT rev (1m)-4.03%
PT rev (3m)-1.16%
EPS NQ rev (1m)0%
EPS NQ rev (3m)-3.22%
EPS NY rev (1m)-7.34%
EPS NY rev (3m)-43.37%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)0.58%
Revenue NY rev (1m)5.8%
Revenue NY rev (3m)9.27%
Valuation
Industry RankSector Rank
PE N/A
Fwd PE N/A
P/S 260
P/FCF N/A
P/OCF N/A
P/B 9.36
P/tB 9.37
EV/EBITDA N/A
EPS(TTM)-0.24
EYN/A
EPS(NY)-0.34
Fwd EYN/A
FCF(TTM)-0.15
FCFYN/A
OCF(TTM)-0.14
OCFYN/A
SpS0.07
BVpS1.81
TBVpS1.81
PEG (NY)N/A
PEG (5Y)N/A
Graham NumberN/A
Profitability
Industry RankSector Rank
ROA -46.06%
ROE -59.48%
ROCE N/A
ROIC N/A
ROICexc N/A
ROICexgc N/A
OM N/A
PM (TTM) N/A
GM 82.82%
FCFM N/A
ROA(3y)N/A
ROA(5y)N/A
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 3Y11.71%
GM growth 5Y0.08%
F-Score4
Asset Turnover0.03
Health
Industry RankSector Rank
Debt/Equity 0.05
Debt/FCF N/A
Debt/EBITDA N/A
Cap/Depr 225.38%
Cap/Sales 13.06%
Interest Coverage N/A
Cash Conversion N/A
Profit Quality N/A
Current Ratio 54.68
Quick Ratio 54.49
Altman-Z 15.99
F-Score4
WACC10.46%
ROIC/WACCN/A
Cap/Depr(3y)165.59%
Cap/Depr(5y)132.41%
Cap/Sales(3y)15.59%
Cap/Sales(5y)17.11%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)30.37%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%-50%
EPS Next Y-37.87%
EPS Next 2Y-24.57%
EPS Next 3Y-12.16%
EPS Next 5Y15.35%
Revenue 1Y (TTM)178.54%
Revenue growth 3Y50.78%
Revenue growth 5Y36.65%
Sales Q2Q%19.19%
Revenue Next Year70.11%
Revenue Next 2Y81.26%
Revenue Next 3Y77.87%
Revenue Next 5Y76.71%
EBIT growth 1Y-16.63%
EBIT growth 3YN/A
EBIT growth 5YN/A
EBIT Next Year-82.49%
EBIT Next 3Y-23.48%
EBIT Next 5Y16.54%
FCF growth 1Y10.27%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y13.14%
OCF growth 3YN/A
OCF growth 5YN/A

D-WAVE QUANTUM INC / QBTS Fundamental Analysis FAQ

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

ChartMill assigns a fundamental rating of 4 / 10 to QBTS.


Can you provide the valuation status for D-WAVE QUANTUM INC?

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


What is the profitability of QBTS stock?

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