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.
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D-Wave Quantum Inc. (QBTS) P/E ratio
D-Wave Quantum Inc. has no meaningful P/E ratio: its trailing twelve-month earnings is negative. Over the past ten years it has ranged from 0.0× (October 2026) to 8.9× (November 2021) — the current reading is the lowest in ten years.
P/E ratio, daily
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Annual newest first
| Period | P/E ratio | Change |
|---|---|---|
| FY2025 | 0.0× | — |
| FY2024 | 0.0× | — |
| FY2023 | 0.0× | — |
| FY2022 | 0.0× | — |
| FY2021 | 0.0× | — |
| FY2020 | 0.0× | — |
Quarterly newest first
| Period | P/E ratio | Change |
|---|---|---|
| Jun 2026 | 0.0× | — |
| Mar 2026 | 0.0× | — |
| Dec 2025 | 0.0× | — |
| Sep 2025 | 0.0× | — |
| 17 more quarters | Free account |
Against its own ten years
P/E ratio against peers
| Company | P/E ratio |
|---|---|
| QUBT Quantum Computing Inc. compare | n/m |
| QMCO Quantum Corporation compare | n/m |
| RGTI Rigetti Computing, Inc. compare | n/m |
| QBTS D-Wave Quantum Inc. | n/m |
| IONQ IonQ, Inc. compare | n/m |
| SMCI Super Micro Computer, Inc. compare | 11.7× |
| CRCT Cricut, Inc. compare | 15.0× |
| LOGI Logitech International S.A. compare | 17.9× |
| CRSR Corsair Gaming, Inc. compare | 40.6× |
| Computer Hardware industry median | 19.1× |
| Technology sector median | 30.1× |
| Market median | 17.9× |
What P/E ratio is
Price to Earnings Ratio shows how much investors pay for each dollar of a company’s annual profit per share.
Stock Price ÷ EPS (Basic) (TTM)