Dell Technologies Inc. (DELL) vs IonQ, Inc. (IONQ)

Dell Technologies Inc. and IonQ, Inc. are both Computer Hardware companies. Dell Technologies Inc. is the larger, with a market value of $348.7B against $18.2B — 19.2× the size. IonQ, Inc. has negative trailing earnings, so its P/E is not meaningful; Dell Technologies Inc. trades at 32.4×. IonQ, Inc. grew revenue faster over the last twelve months: 370.6% against 49.0%. Dell Technologies Inc. has the higher net margin (7.53% vs −553.3%) and the higher return on invested capital (68.6% vs −51.5%). Across the 17 metrics below, Dell Technologies Inc. leads on 13 and IonQ, Inc. on 4.

Valuation

Metric DELL IONQ Computer Hardware median
P/E 32.42 n/m 20.64
P/S 2.40 68.01 2.95
P/B n/m 5.02 2.78
Price to free cash flow 42.41 n/m 25.64
EV/EBITDA 21.83 n/m 20.51
EV/Sales 2.50 59.41 3.48
Earnings yield 3.08% (9.52%) (4.08%)
Free cash flow yield 2.36% (2.90%) (2.90%)

Profitability

Metric DELL IONQ Computer Hardware median
Gross margin 19.80% 29.32% 37.84%
Operating margin 9.43% (408.24%) (0.80%)
Net margin 7.53% (553.27%) (14.15%)
Free cash flow margin 5.66% (196.32%) 0.00%
Return on equity (542.71%) (60.37%) (2.10%)
Return on assets 10.51% (33.57%) (0.42%)
Return on invested capital 68.58% (51.52%) 0.00%

Growth

Metric DELL IONQ Computer Hardware median
Revenue growth (TTM) 49.03% 370.64% 27.21%
EPS growth (last fiscal year) 36.05% (16.67%) —
Revenue growth, 5-year CAGR 5.55% — 0.81%
Net income growth, 5-year CAGR 12.80% 0.00% 0.00%

Health

Metric DELL IONQ Computer Hardware median
Debt to equity (18.21) 0.00 0.00
Current ratio 0.96 10.66 2.76
Net debt to EBITDA 1.07 4.27 0.46

Dividend

Metric DELL IONQ Computer Hardware median
Dividend yield 1.75% — 2.47%
Payout ratio 0.54 0.00 0.00

Size

Metric DELL IONQ Computer Hardware median
Market cap 348.74b 18.18b 462.08m

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