IonQ, Inc. (IONQ) vs Rigetti Computing, Inc. (RGTI)

IonQ, Inc. and Rigetti Computing, Inc. are both Computer Hardware companies. IonQ, Inc. is the larger, with a market value of $11.4B against $3.3B — 3.4× the size. Rigetti Computing, Inc. has negative trailing earnings, so its P/E is not meaningful; IonQ, Inc. trades at 48.6×. IonQ, Inc. grew revenue faster over the last twelve months: 376.5% against 68.5%. IonQ, Inc. has the higher net margin (67.1% vs −1,787.4%) and the higher return on invested capital (−19.7% vs −42.3%). Across the 16 metrics below, IonQ, Inc. leads on 13 and Rigetti Computing, Inc. on 3.

Valuation

Metric IONQ RGTI Computer Hardware median
P/E 48.62 n/m 18.97
P/S 32.78 293.96 2.50
P/B 2.48 7.30 1.60
Price to free cash flow n/m n/m 22.50
EV/EBITDA n/m n/m 12.99
EV/Sales 30.15 265.47 1.83
Earnings yield 2.06% (6.28%) (8.39%)
Free cash flow yield (5.44%) (2.23%) (6.20%)

Profitability

Metric IONQ RGTI Computer Hardware median
Gross margin 24.10% 34.61% 34.67%
Operating margin (333.94%) (727.62%) (0.80%)
Net margin 67.09% (1,787.40%) (12.36%)
Free cash flow margin (169.50%) (655.90%) 0.00%
Return on equity 6.98% (43.77%) 0.00%
Return on assets 4.19% (37.15%) 0.00%
Return on invested capital (19.72%) (42.25%) 0.00%

Growth

Metric IONQ RGTI Computer Hardware median
Revenue growth (TTM) 376.53% 68.49% 27.21%
EPS growth (last fiscal year) (16.67%) 35.78% 27.72%
Revenue growth, 5-year CAGR — — 1.14%
Net income growth, 5-year CAGR 0.00% 0.00% 0.00%

Health

Metric IONQ RGTI Computer Hardware median
Debt to equity 0.00 0.00 0.00
Current ratio 4.24 3.94 2.80
Net debt to EBITDA 4.27 5.13 0.46

Dividend

Metric IONQ RGTI Computer Hardware median
Dividend yield — — 1.26%
Payout ratio — — 0.23

Size

Metric IONQ RGTI Computer Hardware median
Market cap 11.35b 3.29b 270.88m

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