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IonQ IONQ Free cash flow margin

Free cash flow margin at other companies

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28.1%+0.4pp
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12.7%-1.2pp
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5.6%-0.2pp
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25.5%+0.5pp
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Other financials

Income statement

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Revenue$64.7M+755%
Gross profit$15.4M+374%
Operating income-$271.5M-259%
Net income$805.4M+2,597%
EPS (diluted)$2.07+1,579%

Balance sheet

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Cash & equivalents$501.4M+209%
Total debt$30.4M+75.4%
Total equity$5.0B+550%
Total assets$6.7B+687%

Cash flow

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Operating cash flow-$151.0M-357%
CapEx$8.4M+263%
Free cash flow-$159.4M-351%

Valuation

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Market cap$21.11B+100%
Enterprise value$20.64B+97.0%
P/S112.8×-132×

Profitability

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Gross margin34.6%-15.5pp
Operating margin-443.3%-89.3pp
Net margin-1,836.3%-2,750pp

Returns & leverage

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Return on equity-108.2%-223pp
Debt / equity0.0×
Current ratio14.1×+0.9×

Where this comes from

Calculated from IonQ’s reported figures.

Based on trailing twelve months.

The official record: IonQ’s 10-Q, filed May 7, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is IonQ's free cash flow margin?
IonQ (IONQ) reported free cash flow margin of -226.4% in Q1 2026.
How has IonQ's free cash flow margin changed year-over-year?
IonQ's free cash flow margin increased by 28.0% year-over-year, from -314.5% to -226.4%.
What is the long-term trend for IonQ's free cash flow margin?
Over 4 years (2021 to 2025), IonQ's free cash flow margin has grown at a -38.7% compound annual growth rate (CAGR), from -1,635.1% to -230.4%.
What does free cash flow margin mean?
How much real, spendable cash each sales dollar generates after reinvestment.
How do you interpret free cash flow margin?
A high and rising FCF margin is the hallmark of a cash-generative business. Persistent gaps between net margin and FCF margin warrant a look at working capital or capital intensity.
How does free cash flow margin compare across companies?
Strong cross-company quality signal; capital-light compounders post structurally higher FCF margins than asset-heavy peers.