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D-Wave Quantum Inc. QBTS

NYSE · stock · Services-Computer Processing & Data Preparation · website · IPO 2020-10-11 · LEI

D-Wave Quantum Inc. statistics & valuation

Market cap$8.4B
P / B9.9×
Net margin-1444.1%
Return on equity-41.7%
FCF margin-308.5%
Net cash$599.5M
Enterprise value USD$7.8B
Earnings yield EBIT/EV-1.3%
Return on capital-11.2%

Market cap as of 2026-06-29. Multiples are price-derived and refreshed daily; everything else from the latest financial reports.

Profitability & efficiency

Net margin (%)
-502.40% -748.70% -944.50% -1630.00% -1444.10% 20212022202320242025
Gross margin (%)
72.10% 59.20% 52.80% 63.00% 82.60% 20212022202320242025
Operating margin (%)
-620.30% -828.90% -919.70% -874.80% -408.20% 20212022202320242025
Return on equity (%)
-229.70% -41.70% 20212022202320242025
Shares outstanding
125.3M 119.6M 161.1M 266.6M 358.7M 20212022202320242025
Net debt ($)
$3.0M $31.2M $22.5M -$147.9M -$599.5M 20212022202320242025
Share buybacks ($)
20212022202320242025
Return on assets (%)
-96.70% -199.30% -139.40% -72.00% -38.80% 20212022202320242025
Free cash flow margin (%)
-582.50% -636.40% -699.20% -507.00% -308.50% 20212022202320242025
Debt / equity (×)
0.48× 0.04× 20212022202320242025
EPS ($)
-$0.25 -$0.45 -$0.60 -$0.75 -$1.11 20212022202320242025

Margins and returns computed from annual filings. Falling shares outstanding = buybacks; rising = dilution. Net debt = debt − cash (negative = net cash).

Key ratios (by fiscal year)

RatioFY2025FY2024FY2023FY2022FY2021
Gross margin82.6%63.0%52.8%59.2%72.1%
Operating margin-408.2%-874.8%-919.7%-828.9%-620.3%
Net margin-1444.1%-1630.0%-944.5%-748.7%-502.4%
FCF margin-308.5%-507.0%-699.2%-636.4%-582.5%
Return on assets-38.8%-72.0%-139.4%-199.3%-96.7%
Return on equity-41.7%-229.7%337.9%182.3%171.9%
Debt / equity0.04×0.48×-2.61×-1.06×-0.68×
Current ratio42.386.144.180.871.86

Computed from company filings · US · as of 2025-12-31. Facts plus Stocktoria's own computed scores — not investment advice.