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IonQ IONQ Ratios & Valuation

Q2 '26Q1 '26Q4 '25Q3 '25Q2 '25
Profitability
Gross margin29.3%-24.5pp34.6%-15.5pp40.4%-11.8pp51.2%+1.2pp53.8%-0.7pp
Operating margin-408.2%+292pp-443.3%+150pp-487.4%+52.3pp-604.5%-45.6pp-700.6%-64.6pp
Returns
Return on invested capital-63%-13.2pp-32.4%+16.1pp-40.4%+17.7pp-40.7%+6.5pp-49.8%-8.0pp
Efficiency
Asset turnover0.1×0.0×0.0×0.0×0.0×0.1×0.0×
Liquidity
Current ratio10.7×+2.9×14.1×+0.9×15.5×+5.0×8.7×-3.5×7.8×-5.4×
Leverage
Debt-to-equity0.0×0.0×0.0×0.0×0.0×
Per Share
Book value per share$9.08+96.2%$13.40+301%$13.55+652%$7.72+280%$4.63+111%
Valuation
Market capitalization$14.5B+24.9%$10.57B+100%$15.9B+75.9%$19.87B+974%$10.69B+619%
Price / sales58.8×-163×56.5×-66.0×122.3×-87.6×248.9×+199×204.1×+156×
Price / book4.3×-5.7×2.1×-4.8×4.2×-19.4×8.7×+4.5×9.2×+6.0×

FAQ

What are IonQ's profit margins?
IonQ (IONQ) runs a 29.3% gross margin and a -408.2% operating margin, with a -1836.3% net margin.
Where do IonQ's ratios come from?
Every ratio is computed from IonQ's SEC filings — trailing-twelve-month flows over period-end balances. Valuation multiples combine those fundamentals with market data, recomputed each period. Switch between quarterly, annual, and TTM, or open any ratio for its full history and peer comparisons.