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

	TTM Q1 '26	TTM Q4 '25	TTM Q3 '25	TTM Q2 '25	TTM Q1 '25
Profitability
Gross margin	180%-15.5pp	195.5%-11.8pp	207.3%+1.2pp	206.1%-0.7pp	206.8%-8.5pp
Operating margin	-2,235.8%+150pp	-2,385.3%+52.3pp	-2,437.6%-45.6pp	-2,392%-64.6pp	-2,327.4%+128pp
EBITDA margin	-1,998%+164pp	-2,161.5%+72.0pp	-2,233.6%-31.4pp	-2,202.2%-58.5pp	-2,143.7%+128pp
Free cash flow margin	-1,077.8%+88.1pp	-1,165.9%+56.7pp	-1,222.6%-19.4pp	-1,203.2%+81.6pp	-1,284.8%+84.6pp
Returns
Return on invested capital	-163.3%+16.1pp	-179.4%+17.7pp	-197.1%+6.5pp	-203.6%-8.0pp	-195.6%-9.5pp
Efficiency
Asset turnover	0.2×0.0×	0.2×0.0×	0.2×0.0×	0.3×0.0×	0.3×0.0×
Liquidity
Current ratio	46×+0.9×	45.2×+5.0×	40.2×-3.5×	43.7×-5.4×	49×+1.4×
Quick ratio	45.7×+0.8×	44.9×+4.9×	40×-3.6×	43.6×-5.5×	49×+1.4×
Cash ratio	13.6×-0.3×	13.9×+4.6×	9.2×+1.5×	7.7×+0.3×	7.4×+1.6×
Leverage
Debt-to-equity	0×0.0×	0.1×0.0×	0.1×0.0×	0.1×0.0×	0.1×0.0×
Debt-to-assets	0×0.0×	0×0.0×	0.1×0.0×	0.1×0.0×	0.1×0.0×
Per Share
Book value per share	$39.30+34.4%	$29.24+67.2%	$17.49+48.2%	$11.81+26.0%	$9.37+12.5%
Valuation
Market capitalization	$57.02B+10.2%	$51.73B+15.3%	$44.87B+67.1%	$26.85B+52.1%	$17.65B+22.1%
Enterprise value	$55.1B+9.9%	$50.13B+13.3%	$44.24B+66.8%	$26.53B+52.3%	$17.42B+21.6%
Price / sales	631.7×-66.0×	697.7×-87.6×	785.3×+199×	585.8×+156×	429.3×+40.4×
Price / book	24.3×-4.8×	29×-19.4×	48.4×+4.5×	43.9×+6.0×	37.9×+2.6×
EV / sales	615×-65.1×	680.2×-94.4×	774.6×+196×	578.8×+155×	423.8×+38.9×
Free cash flow yield	-8.6%-1.4pp	-7.2%-0.5pp	-6.7%+4.9pp	-11.6%+6.5pp	-18%+2.3pp

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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.