D-Wave Quantum QBTS Ratios & Valuation
| FY'25 | FY'24 | FY'23 | FY'22 | ||
|---|---|---|---|---|---|
| Profitability | |||||
| Gross margin | 82.6%+19.6pp | 63%+10.2pp | 52.8%-6.0pp | 58.8%-13.3pp | |
| Operating margin | -408.2%+467pp | -874.8%+44.8pp | -919.7%-89.6pp | -830.1%-210pp | |
| Net margin | -1,444.1%+186pp | -1,630%-686pp | -944.5%-202pp | -742.7%-90.1pp | |
| EBITDA margin | -401.9%+460pp | -862.3%+45.4pp | -907.7%-97.4pp | -810.2%— | |
| Free cash flow margin | -308.5%+211pp | -519%+180pp | -699.2%-62.8pp | -636.3%— | |
| Returns | |||||
| Return on equity | -77.6%— | —— | —— | —— | |
| Return on assets | -63.7%+47.4pp | -111%+80.7pp | -191.7%-2.8pp | -188.9%-63.3pp | |
| Efficiency | |||||
| Asset turnover | 0×0.0× | 0.1×-0.1× | 0.2×-0.1× | 0.3×+0.1× | |
| Inventory turnover | 1.9×+0.2× | 1.7×-0.2× | 1.9×+0.6× | 1.4×-0.2× | |
| Liquidity | |||||
| Current ratio | 42.4×+36.2× | 6.1×+2.0× | 4.2×+3.3× | 0.9×-0.7× | |
| Quick ratio | 42.2×+36.2× | 6.1×+2.1× | 4×+3.3× | 0.7×-0.6× | |
| Cash ratio | 30×+24.1× | 5.9×+2.2× | 3.7×+3.2× | 0.4×-0.5× | |
| Leverage | |||||
| Debt-to-equity | 0.1×-0.6× | 0.6×— | —— | —— | |
| Debt-to-assets | 0×-0.1× | 0.2×-1.0× | 1.2×-0.3× | 1.5×+0.2× | |
| Interest coverage | -25×-5.2× | -19.8×— | —— | -13.6×+8.9× | |
| Per Share | |||||
| Book value per share | $2.65+714% | $0.33+284% | -$0.18+27.9% | -$0.25-68.2% | |
| Valuation | |||||
| Market capitalization | $9.34B+313% | $2.26B+1,517% | $139.82M-14.3% | $163.2M-86.7% | |
| Enterprise value | $8.74B+312% | $2.12B+1,142% | $170.77M-13.7% | $197.81M-84.3% | |
| Price / sales | 379.7×+124× | 256.1×+240× | 16×-6.8× | 22.7×-173× | |
| Price / book | 11×-25.1× | 36.1×— | —— | —— | |
| EV / sales | 355.6×+115× | 240.3×+221× | 19.5×-8.1× | 27.6×-173× | |
| Free cash flow yield | -0.8%+1.2pp | -2%+41.8pp | -43.8%-15.8pp | -28%— | |
| Earnings yield | -3.8%+2.6pp | -6.4%+52.8pp | -59.2%-26.5pp | -32.6%-29.3pp |
Chart any of these lines over time, or line them up against competitors.
Compare these in charts →Questions, answered.
- What are D-Wave Quantum's profit margins?
- D-Wave Quantum (QBTS) runs a 66.3% gross margin and a -1155.6% operating margin, with a -2957.2% net margin.
- Where do D-Wave Quantum's ratios come from?
- Every ratio is computed from D-Wave Quantum'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.
