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IonQ IONQ Operating margin

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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$20.41B+100%
Enterprise value$19.94B+97.0%
P/S109.1×-127×

Profitability

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Gross margin34.6%-15.5pp
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 operating margin?
IonQ (IONQ) reported operating margin of -443.3% in Q1 2026.
How has IonQ's operating margin changed year-over-year?
IonQ's operating margin increased by 25.2% year-over-year, from -592.8% to -443.3%.
What is the long-term trend for IonQ's operating margin?
Over 3 years (2022 to 2025), IonQ's operating margin has grown at a -14.0% compound annual growth rate (CAGR), from -3,756.7% to -2,385.3%.
What does operating margin mean?
The profit left from core operations for every dollar of sales, before interest and taxes.
How do you interpret operating margin?
Expanding operating margin shows operating leverage — revenue growing faster than the cost base. Compression points to rising overhead, pricing pressure, or investment ahead of revenue.
How does operating margin compare across companies?
Strong cross-company signal within a sector. Capital-light businesses sustain higher operating margins than capital-intensive ones.