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D-Wave Quantum QBTS Free cash flow margin

Free cash flow margin at other companies

International Business Machines logo
International Business MachinesIBM
18.7%-1.3pp
IonQ logo
IonQIONQ
-226.4%-49.5pp
Alphabet Inc. logo
Alphabet Inc.GOOGL

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

Returns & leverage

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Return on equity-55.3%
Debt / equity-0.1×
Current ratio21.4×+0.7×

Where this comes from

Calculated from D-Wave Quantum’s reported figures.

Based on trailing twelve months.

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 free cash flow margin?
D-Wave Quantum (QBTS) reported free cash flow margin of -821% in Q1 2026.
How has D-Wave Quantum's free cash flow margin changed year-over-year?
D-Wave Quantum's free cash flow margin decreased by 230.3% year-over-year, from -248.6% to -821%.
What is the long-term trend for D-Wave Quantum's free cash flow margin?
Over 4 years (2020 to 2025), D-Wave Quantum's free cash flow margin has grown at a -14.7% compound annual growth rate (CAGR), from -581.8% to -308.5%.
What does free cash flow margin mean?
How much real, spendable cash each sales dollar generates after reinvestment.
How do you interpret free cash flow margin?
A high and rising FCF margin is the hallmark of a cash-generative business. Persistent gaps between net margin and FCF margin warrant a look at working capital or capital intensity.
How does free cash flow margin compare across companies?
Strong cross-company quality signal; capital-light compounders post structurally higher FCF margins than asset-heavy peers.