Cricut, Inc. (CRCT) vs D-Wave Quantum Inc. (QBTS)

Cricut, Inc. and D-Wave Quantum Inc. are both Computer Hardware companies. D-Wave Quantum Inc. is the larger, with a market value of $5.5B against $1.3B — 4.1× the size. D-Wave Quantum Inc. has negative trailing earnings, so its P/E is not meaningful; Cricut, Inc. trades at 15.0×. Cricut, Inc. grew revenue faster over the last twelve months: −3.11% against −44.2%. Cricut, Inc. has the higher net margin (12.7% vs −2,001.6%) and the higher return on invested capital (81.6% vs −18.6%). Across the 19 metrics below, Cricut, Inc. leads on 15 and D-Wave Quantum Inc. on 4.

Valuation

Metric CRCT QBTS Computer Hardware median
P/E 14.95 n/m 19.12
P/S 1.95 434.86 2.86
P/B 3.66 4.99 2.40
Price to free cash flow 9.13 n/m 26.32
EV/EBITDA 8.52 n/m 18.21
EV/Sales 1.62 393.72 2.80
Earnings yield 6.69% (4.87%) (4.87%)
Free cash flow yield 10.96% (2.22%) (3.32%)

Profitability

Metric CRCT QBTS Computer Hardware median
Gross margin 57.94% 64.19% 37.84%
Operating margin 15.50% (1,372.88%) (0.80%)
Net margin 12.71% (2,001.59%) (14.15%)
Free cash flow margin 21.41% (963.82%) (0.50%)
Return on equity 25.90% (27.98%) (2.10%)
Return on assets 13.41% (24.84%) (0.42%)
Return on invested capital 81.55% (18.64%) 0.00%

Growth

Metric CRCT QBTS Computer Hardware median
Revenue growth (TTM) (3.11%) (44.22%) 27.21%
EPS growth (last fiscal year) 20.69% (48.00%) 33.11%
Revenue growth, 5-year CAGR (5.87%) 36.65% 1.14%
Net income growth, 5-year CAGR (13.08%) 0.00% 0.00%

Health

Metric CRCT QBTS Computer Hardware median
Debt to equity 0.00 0.03 0.00
Current ratio 2.49 20.55 2.76
Net debt to EBITDA (2.29) 8.65 0.42

Dividend

Metric CRCT QBTS Computer Hardware median
Dividend yield 3.11% — 1.12%
Payout ratio 0.47 — 0.26

Size

Metric CRCT QBTS Computer Hardware median
Market cap 1.34b 5.54b 442.56m

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