Monday 12 October 2026
Export all QBTS data to Excel Powerpack
D-Wave Quantum Inc.
QBTS Technology Computer Hardware
D-Wave Quantum Inc.’s revenue for fiscal 2025 (year ended December 2025) was $24.6 million, up 178.5% from fiscal 2024. In the quarter to June 2026, revenue was flat, EPS grew 76.4%, free cash flow fell 105.8% and total debt rose 9.27%, each against the same quarter a year earlier. Revenue growth for five consecutive years; insiders bought in the last twelve months.
13.74
0.83
−5.70%
Follow QBTS
| Dec '25 | Dec '24 | Dec '23 | Dec '22 | Dec '21 | Dec '20 | Dec '17 | |
|---|---|---|---|---|---|---|---|
P/E ratio |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | — |
Piotroski F-Score |
5 | 5 | 2 | 3 | — | — | — |
Altman Z-Score |
78.57 | 2.36 | (14.13) | (26.08) | (4.95) | 1.73 | — |
P/S ratio |
341.62 | 182.83 | 12.92 | 24.02 | 0.00 | 0.00 | — |
P/FCF ratio |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | — |
Altman Z″-Score (non-manufacturers) |
16.11 | (7.26) | (32.00) | (64.32) | (46.39) | (1.34) | — |
P/Operating CF |
(457.19) | 800.14 | (7.68) | (15.83) | (171.31) | (843.87) | — |
Beneish M-Score |
(2.93) | (5.05) | (3.83) | (4.36) | — | — | — |
P/B ratio |
9.86 | 25.76 | 0.00 | 0.00 | 0.00 | 1.55 | — |
Price to Tangible BV |
9.87 | 25.97 | 0.00 | 0.00 | 0.00 | 1.55 | — |
EV/Sales |
307.11 | 166.12 | 15.54 | 27.64 | 0.00 | 0.00 | — |
EV/EBITDA |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | — |
EV/Operating CF |
(104.90) | (34.39) | (2.24) | (4.38) | (35.98) | 0.00 | — |
EV/FCF |
(98.76) | (32.43) | (2.22) | (4.34) | (35.98) | 0.00 | — |
Quick Ratio |
41.90 | 5.95 | 3.82 | 0.50 | 1.10 | 4.02 | — |
Current Ratio |
42.38 | 6.14 | 4.18 | 0.87 | 1.53 | 5.46 | — |
Net Debt/EBITDA |
8.65 | 1.96 | (0.29) | (0.45) | (0.58) | 0.04 | — |
Debt/Assets |
3.93% | 15.25% | 108.24% | 122.58% | 104.20% | 0.00% | 0.00% |
Debt/Equity |
0.04 | 0.49 | (2.62) | (1.12) | (1.67) | 0.00 | — |
Asset Turnover |
0.04 | 0.07 | 0.20 | 0.25 | 0.04 | 0.03 | — |
Operating CF/Net income |
0.20 | 0.30 | 0.73 | 0.84 | 0.85 | 1.33 | — |
Capex/Depreciation |
(1.87) | (1.24) | (0.37) | (0.23) | (0.77) | (0.29) | — |
Interest Coverage |
(25.01) | (19.82) | (2,176.92) | (25.46) | (9.71) | (6.08) | — |
| (77.62%) | (753.99%) | 306.67% | 45.18% | 31.99% | (8.32%) | — | |
| (63.65%) | (111.01%) | (191.69%) | (190.38%) | (24.76%) | (14.57%) | — | |
ROIC |
(1,691.75%) | 0.00% | 0.00% | 0.00% | (848.76%) | 0.00% | — |
Return on Tangible Assets |
(40.21%) | (90.47%) | (215.70%) | (30,001.12%) | (464.70%) | (1,824.65%) | — |
Average Days of Receivables |
23.56 | 58.72 | 68.85 | 51.95 | 119.34 | 0.00 | — |
Research and Development Expense of Revenue |
206.34% | 399.91% | 432.50% | 447.53% | 404.54% | 395.56% | — |
Selling, General and Administrative Expense of Revenue |
284.46% | 537.96% | 539.96% | 440.64% | 287.88% | 296.53% | — |
Intangible Assets out of Total Assets |
0.00 | 0.00 | 0.00 | 0.01 | 0.01 | 0.00 | 0.00 |
Share Based Compensation of Revenue |
92.15% | 177.42% | 250.27% | 127.76% | 27.70% | 57.93% | — |
Graham Net Nets |
0.10 | 0.03 | (0.33) | (0.25) | (0.03) | (0.12) | — |
Graham Number |
0.00 | 0.00 | 1.57 | 1.57 | 3.50 | 0.00 | — |
Earnings Yield |
(4.21%) | (8.21%) | (75.61%) | (30.70%) | (3.33%) | (0.10%) | — |
Free Cash Flow Yield |
(0.91%) | (2.80%) | (54.25%) | (26.54%) | (2.83%) | 0.00% | — |
Revenue per Share |
0.08 | 0.05 | 0.06 | 0.06 | 0.05 | 0.04 | — |
Operating CF per Share |
(0.22) | (0.22) | (0.44) | (0.38) | (0.28) | (0.23) | — |
Capex per Share |
(0.01) | (0.01) | 0.00 | 0.00 | (0.02) | (0.01) | — |
Free Cash Flow per Share |
(0.24) | (0.23) | (0.44) | (0.38) | (0.29) | (0.24) | — |
Cash per Share |
2.75 | 0.93 | 0.30 | 0.06 | 0.08 | 0.01 | — |
Shareholders Equity per Share |
2.65 | 0.33 | (0.18) | (0.25) | (0.15) | (0.38) | — |
Interest Debt per Share |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | — |
Book value per Share |
2.65 | 0.33 | (0.18) | (0.25) | (0.15) | (0.38) | — |
Free Cash Flow |
(76.29) | (45.04) | (61.33) | (45.72) | (36.80) | (30.08) | — |
Working Capital |
875.08 | 154.90 | 35.80 | (2.11) | 5.57 | 1.20 | — |
Capital Expenditures |
(4.31) | (2.39) | (0.68) | (0.50) | (2.00) | (0.79) | — |
Net Current Asset Value |
832.65 | 47.83 | (36.79) | (42.48) | (31.81) | (348.00) | — |
EV/EBIT |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | — |
Capex to Sales |
0.18 | 0.27 | 0.08 | 0.07 | 0.32 | 0.15 | — |
Price to Operating Income |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | — |
| Other line items | |||||||
Depreciation/Fixed assets |
0.29 | 0.47 | 0.72 | 0.94 | 0.80 | 0.00 | — |
Cash ROIC |
(4.30%) | (16.61%) | (75.64%) | (430.02%) | (168.54%) | 64.19% | — |
Accounts Receivable Turnover |
16.35 | 5.75 | 6.55 | 4.67 | 0.00 | 0.00 | — |
Accounts Payable Turnover |
4.85 | 2.86 | 1.58 | 1.00 | 1.47 | 0.00 | — |
Inventory Turnover |
1.92 | 1.73 | 1.94 | 1.36 | 0.00 | 0.00 | — |
Average Days of Payables |
81.00 | 91.14 | 129.29 | 469.02 | 439.88 | 107.74 | — |
Days of Inventory on Hand |
236.68 | 188.54 | 183.38 | 274.22 | 440.92 | 0.00 | — |
Average Receivables |
1.50 | 1.54 | 1.34 | 1.54 | — | — | — |
Average Payables |
0.88 | 1.14 | 2.61 | 2.93 | 1.19 | — | — |
Average Inventory |
2.23 | 1.88 | 2.14 | 2.16 | — | — | — |
Average Assets |
557.83 | 129.60 | 43.15 | 28.21 | 165.50 | 150.77 | — |
Average Common Equity |
457.44 | 19.08 | (26.97) | (118.85) | (128.09) | 264.19 | — |
Columns are period end dates