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

NYSE:QBTS • US26740W1099

Current stock price

15.73 USD
-0.37 (-2.3%)
At close:
15.83 USD
+0.1 (+0.64%)
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

  • QBTS had negative earnings in the past year.
  • 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.
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's Return On Assets of -46.06% is on the low side compared to the rest of the industry. QBTS is outperformed by 82.67% of its industry peers.
  • With a Return On Equity value of -59.48%, QBTS is not doing good in the industry: 71.48% of the companies in the same industry are doing better.
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

  • With an excellent Gross Margin value of 82.82%, QBTS belongs to the best of the industry, outperforming 87.36% of the companies in the same industry.
  • In the last couple of years the Gross Margin of QBTS has remained more or less at the same level.
  • The Profit Margin and Operating Margin are not available for QBTS so they could not be analyzed.
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

More info and screens

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.
  • QBTS has no outstanding debt. Therefor its Debt/Equity and Debt/FCF ratios are 0 and belong to the best of the 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 17.64 indicates that QBTS is not in any danger for bankruptcy at the moment.
  • Looking at the Altman-Z score, with a value of 17.64, QBTS belongs to the top of the industry, outperforming 95.67% of the companies in the same industry.
  • QBTS has a Debt/Equity ratio of 0.05. This is a healthy value indicating a solid balance between debt and equity.
  • Looking at the Debt to Equity ratio, with a value of 0.05, QBTS is in line with its industry, outperforming 57.40% of the companies in the same industry.
Industry RankSector Rank
Debt/Equity 0.05
Debt/FCF N/A
Altman-Z 17.64
ROIC/WACCN/A
WACC10.9%
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

  • QBTS has a Current Ratio of 54.68. This indicates that QBTS is financially healthy and has no problem in meeting its short term obligations.
  • QBTS has a Current ratio of 54.68. This is amongst the best in the industry. QBTS outperforms 99.28% of its industry peers.
  • A Quick Ratio of 54.49 indicates that QBTS has no problem at all paying its short term obligations.
  • QBTS has a better Quick ratio (54.49) than 99.28% 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

More info and screens

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.
  • Looking at the last year, QBTS shows a very strong growth in Revenue. The Revenue has grown by 178.54%.
  • Measured over the past years, QBTS shows a very strong growth in Revenue. The Revenue has been growing by 36.65% on average per year.
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

  • Based on estimates for the next years, QBTS will show a quite strong growth in Earnings Per Share. The EPS will grow by 15.35% on average per year.
  • QBTS is expected to show a strong growth in Revenue. In the coming years, the Revenue will grow by 76.71% yearly.
EPS Next Y-28.44%
EPS Next 2Y-21.48%
EPS Next 3Y-7.29%
EPS Next 5Y15.35%
Revenue Next Year60.79%
Revenue Next 2Y82.89%
Revenue Next 3Y81.81%
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.
  • Also next year QBTS is expected to report negative earnings again, which makes the also the Forward Price/Earnings Ratio negative.
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 -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 -7.29% in the coming years.
PEG (NY)N/A
PEG (5Y)N/A
EPS Next 2Y-21.48%
EPS Next 3Y-7.29%

More info and screens

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

0

5. QBTS Dividend Analysis

5.1 Amount

  • QBTS does not give a dividend.
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 (3/20/2026, 8:18:20 PM)

After market: 15.83 +0.1 (+0.64%)

15.73

-0.37 (-2.3%)

Chartmill FA Rating
GICS IndustryGroupSoftware & Services
GICS IndustrySoftware
Earnings (Last)02-26
Earnings (Next)05-04
Inst Owners45.64%
Inst Owner Change-5.31%
Ins Owners0.44%
Ins Owner Change-1.45%
Market Cap5.82B
Revenue(TTM)24.59M
Net Income(TTM)-398.81M
Analysts81.82
Price Target39.75 (152.7%)
Short Float %14.86%
Short Ratio1.72
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)0%
PT rev (3m)5.14%
EPS NQ rev (1m)-3.22%
EPS NQ rev (3m)-7.39%
EPS NY rev (1m)-27.21%
EPS NY rev (3m)-36%
Revenue NQ rev (1m)0.58%
Revenue NQ rev (3m)7.56%
Revenue NY rev (1m)3.93%
Revenue NY rev (3m)3.65%
Valuation
Industry RankSector Rank
PE N/A
Fwd PE N/A
P/S 241
P/FCF N/A
P/OCF N/A
P/B 8.68
P/tB 8.69
EV/EBITDA N/A
EPS(TTM)-0.24
EYN/A
EPS(NY)-0.31
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 17.64
F-Score4
WACC10.9%
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-28.44%
EPS Next 2Y-21.48%
EPS Next 3Y-7.29%
EPS Next 5Y15.35%
Revenue 1Y (TTM)178.54%
Revenue growth 3Y50.78%
Revenue growth 5Y36.65%
Sales Q2Q%19.19%
Revenue Next Year60.79%
Revenue Next 2Y82.89%
Revenue Next 3Y81.81%
Revenue Next 5Y76.71%
EBIT growth 1Y-16.63%
EBIT growth 3YN/A
EBIT growth 5YN/A
EBIT Next Year-77.81%
EBIT Next 3Y-21.51%
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.


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

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


How financially healthy is D-WAVE QUANTUM INC?

The financial health rating of D-WAVE QUANTUM INC (QBTS) is 6 / 10.