D-Wave Quantum Inc. (QBTS) vs Super Micro Computer, Inc. (SMCI)

D-Wave Quantum Inc. and Super Micro Computer, Inc. are both Computer Hardware companies. Super Micro Computer, Inc. is the larger, with a market value of $27.7B against $6.7B — 4.2× the size. D-Wave Quantum Inc. has negative trailing earnings, so its P/E is not meaningful; Super Micro Computer, Inc. trades at 12.1×. Super Micro Computer, Inc. grew revenue faster over the last twelve months: 77.8% against −44.2%. Super Micro Computer, Inc. has the higher net margin (5.71% vs −2,001.6%) and the higher return on invested capital (11.0% vs −18.6%). Across the 19 metrics below, Super Micro Computer, Inc. leads on 15 and D-Wave Quantum Inc. on 4.

Valuation

Metric QBTS SMCI Computer Hardware median
P/E n/m 12.05 20.64
P/S 519.62 0.67 2.95
P/B 5.96 2.54 2.78
Price to free cash flow n/m n/m 25.64
EV/EBITDA n/m 9.43 20.51
EV/Sales 478.48 0.70 3.48
Earnings yield (4.08%) 8.30% (4.08%)
Free cash flow yield (1.86%) (26.73%) (2.90%)

Profitability

Metric QBTS SMCI Computer Hardware median
Gross margin 64.19% 10.82% 37.84%
Operating margin (1,372.88%) 7.09% (0.80%)
Net margin (2,001.59%) 5.71% (14.15%)
Free cash flow margin (963.82%) (17.81%) 0.00%
Return on equity (27.98%) 26.95% (2.10%)
Return on assets (24.84%) 10.15% (0.42%)
Return on invested capital (18.64%) 11.04% 0.00%

Growth

Metric QBTS SMCI Computer Hardware median
Revenue growth (TTM) (44.22%) 77.79% 27.21%
EPS growth (last fiscal year) (48.00%) 94.05% —
Revenue growth, 5-year CAGR 36.65% 61.48% 0.81%
Net income growth, 5-year CAGR 0.00% 81.94% 0.00%

Health

Metric QBTS SMCI Computer Hardware median
Debt to equity 0.03 0.60 0.00
Current ratio 20.55 3.87 2.76
Net debt to EBITDA 8.65 0.42 0.46

Dividend

Metric QBTS SMCI Computer Hardware median
Dividend yield — — 2.47%
Payout ratio 0.00 0.00 0.00

Size

Metric QBTS SMCI Computer Hardware median
Market cap 6.66b 27.73b 462.08m

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