What is D-Wave Quantum's cash ratio?

D-Wave Quantum (QBTS) reported cash ratio of 11.9× in Q1 2026.

How has D-Wave Quantum's cash ratio changed year-over-year?

D-Wave Quantum's cash ratio decreased by 41.2% year-over-year, from 20.3× to 11.9×.

What is the long-term trend for D-Wave Quantum's cash ratio?

Over 5 years (2020 to 2025), D-Wave Quantum's cash ratio has grown at a 75.9% compound annual growth rate (CAGR), from 1.8× to 30×.

What does cash ratio mean?

Cash and equivalents divided by current liabilities at the quarter end. The most conservative liquidity measure — what the company could pay immediately with cash on hand.

D-Wave Quantum QBTS Cash ratio

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Other financials

Income statement

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Revenue$2.9M-80.9%

Gross profit$1.8M-86.9%

Operating income-$54.7M-385%

Net income-$18.4M-239%

EPS (diluted)-$0.05-150%

Balance sheet

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Cash & equivalents$338.2M+11.1%

Total debt$46.7M+22.5%

Total equity$1.1B+442%

Total assets$1.2B+268%

Cash flow

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Operating cash flow-$45.0M-133%

CapEx$1.1M+147%

Free cash flow-$46.0M-134%

Valuation

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Market cap$9.15B+141%

Enterprise value$8.85B+159%

P/S735×+557×

Profitability

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Gross margin66.3%-17.0pp

Operating margin-1,155.6%-1,938pp

Net margin-2,957.2%-4,019pp

FCF margin-821%-1,451pp

Returns & leverage

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Return on equity-55.3%—

Debt / equity0×-0.1×

Current ratio21.4×+0.7×

Where this comes from

Calculated from D-Wave Quantum’s reported figures.

cash and equivalents/total current liabilities=11.9×

Based on the most recent quarter.

The official record: D-Wave Quantum’s 10-Q, filed May 12, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is D-Wave Quantum's cash ratio?: D-Wave Quantum (QBTS) reported cash ratio of 11.9× in Q1 2026.
How has D-Wave Quantum's cash ratio changed year-over-year?: D-Wave Quantum's cash ratio decreased by 41.2% year-over-year, from 20.3× to 11.9×.
What is the long-term trend for D-Wave Quantum's cash ratio?: Over 5 years (2020 to 2025), D-Wave Quantum's cash ratio has grown at a 75.9% compound annual growth rate (CAGR), from 1.8× to 30×.
What does cash ratio mean?: Cash and equivalents divided by current liabilities at the quarter end. The most conservative liquidity measure — what the company could pay immediately with cash on hand.