What are IonQ's profit margins?

IonQ (IONQ) runs a 34.6% gross margin and a -443.3% 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.

IonQ IONQ Ratios & Valuation

Income Statement Balance Sheet Cash Flow Ratios Segments

Quarterly Annual TTM

YoY QoQ

Simplified Detailed

	Q1 '26	Q4 '25	Q3 '25	Q2 '25	Q1 '25
Profitability
Gross margin	34.6%-5.8pp	40.4%-10.8pp	51.2%-2.6pp	53.8%+3.7pp	50.1%-2.1pp
Operating margin	-443.3%+44.1pp	-487.4%+117pp	-604.5%+96.1pp	-700.6%-108pp	-592.8%-53.2pp
EBITDA margin	-380%+44.4pp	-424.3%+121pp	-545.8%+102pp	-648%-105pp	-543.5%-47.1pp
Free cash flow margin	-226.4%+4.0pp	-230.4%+94.4pp	-324.8%-28.7pp	-296.2%+18.3pp	-314.5%-27.3pp
Returns
Return on invested capital	-32.4%+8.0pp	-40.4%+0.3pp	-40.7%+9.1pp	-49.8%-1.3pp	-48.5%+9.6pp
Efficiency
Asset turnover	0×0.0×	0×0.0×	0×0.0×	0.1×0.0×	0.1×0.0×
Liquidity
Current ratio	14.1×-1.5×	15.5×+6.8×	8.7×+1.0×	7.8×-5.4×	13.2×+2.7×
Quick ratio	13.9×-1.5×	15.4×+6.8×	8.7×+1.0×	7.7×-5.5×	13.2×+2.7×
Cash ratio	3.1×-3.2×	6.2×+3.7×	2.5×+0.7×	1.8×-1.6×	3.4×+1.8×
Leverage
Debt-to-equity	0×0.0×	0×0.0×	0×0.0×	0×0.0×	0×0.0×
Debt-to-assets	0×0.0×	0×0.0×	0×0.0×	0×0.0×	0×0.0×
Per Share
Book value per share	$13.40-1.1%	$13.55+75.6%	$7.72+66.8%	$4.63+38.4%	$3.34+85.6%
Valuation
Market capitalization	$10.57B-33.5%	$15.9B-20.0%	$19.87B+85.8%	$10.69B+103%	$5.27B-41.7%
Enterprise value	$10.1B-32.2%	$14.89B-23.8%	$19.54B+85.0%	$10.57B+106%	$5.13B-43.0%
Price / sales	56.5×-65.8×	122.3×-127×	248.9×+44.7×	204.1×+81.7×	122.4×-87.4×
Price / book	2.1×-2.1×	4.2×-4.6×	8.7×-0.5×	9.2×+2.3×	6.9×-16.7×
EV / sales	54×-60.5×	114.5×-130×	244.8×+43.0×	201.8×+82.7×	119.1×-89.9×
Free cash flow yield	-4%-2.1pp	-1.9%-0.6pp	-1.3%+0.1pp	-1.5%+1.1pp	-2.6%-1.2pp

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Questions, answered.

What are IonQ's profit margins?: IonQ (IONQ) runs a 34.6% gross margin and a -443.3% 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.