(IONQ) IONQ - Overview
Sector: Technology | Industry: Computer Hardware | Exchange: NYSE (USA) | Market Cap: 22.073m USD | Total Return: 32.5% in 12m
Avg Turnover: 1.38B
Qual. Beats: 3
Rev. Trend: 96.6%
Qual. Beats: 4
Warnings
P/E ratio 151.6
Share dilution 62.3% YoY
Beneish M-Score 0.90 > -1.5 - likely earnings manipulation
Altman Z'' 0.22 < 1.0 - financial distress zone
Extended 3d
Tailwinds
Rs Leader
IonQ, Inc. designs and manufactures quantum computing hardware and software systems for international markets. The company generates revenue through Quantum-as-a-Service (QaaS) subscriptions, providing access to its trapped-ion quantum computers via major cloud infrastructure providers including Amazon Web Services, Microsoft Azure, and Google Cloud. Its business model also encompasses hardware sales, custom algorithm development, and maintenance contracts for specialized quantum systems.
The quantum computing sector operates on the principle of superposition, allowing qubits to exist in multiple states simultaneously to solve complex computational problems beyond the reach of classical binary systems. Unlike superconducting circuits that require extreme cryogenic cooling, IonQ’s trapped-ion technology utilizes individual atoms suspended in a vacuum, which can offer longer coherence times and high-fidelity operations. Investors can further evaluate the companys competitive positioning and long-term financial projections on ValueRay.
Beyond core computing, IonQ is active in quantum-safe communications and quantum detection systems. The firm maintains research collaborations with academic institutions, such as the University of Chicago, to advance algorithmic efficiency and hardware design. Headquartered in Maryland, IonQ represents a pure-play entry in the evolving hardware-defined technology landscape.
- Enterprise bookings growth signals long-term commercial adoption and future revenue scalability
- Cloud platform partnerships with AWS and Azure expand global hardware accessibility
- High research and development expenses delay path toward GAAP profitability
- Government defense contracts provide non-dilutive funding for quantum hardware development
- Technical milestones in algorithmic qubits validate hardware roadmap and competitive positioning
| Net Income: 277.1m TTM > 0 and > 6% of Revenue |
| FCF/TA: -0.06 > 0.02 and ΔFCF/TA 10.16 > 1.0 |
| NWC/Revenue: 1.14k% < 20% (prev 1.37k%; Δ -223.9% < -1%) |
| CFO/TA -0.06 > 3% & CFO -401.2m > Net Income 277.1m |
| Net Debt/EBITDA: error (EBITDA <= 0) |
| Current Ratio: 14.05 > 1.5 & < 3 |
| Outstanding Shares: last quarter (371.2m) vs 12m ago 62.28% < -2% |
| Gross Margin: 38.08% > 18% (prev 0.12%; Δ 3.80k% > 0.5%) |
| Asset Turnover: 4.96% > 50% (prev 5.07%; Δ -0.10% > 0%) |
| Interest Coverage Ratio: error (cannot be calculated; needs correct EBITDA TTM and Interest Expense TTM) |
| A: 0.32 (Total Current Assets 2.30b - Total Current Liabilities 163.9m) / Total Assets 6.69b |
| B: -0.06 (Retained Earnings -388.7m / Total Assets 6.69b) |
| C: -0.21 (EBIT TTM -796.0m / Avg Total Assets 3.77b) |
| D: -0.26 (Book Value of Equity -443.8m / Total Liabilities 1.70b) |
| Altman-Z'' = 0.22 = B |
| DSRI: 1.66 (Receivables 98.2m/13.6m, Revenue 187.1m/43.1m) |
| GMI: 0.32 (GM 38.08% / 12.05%) |
| AQI: 3.53 (AQ_t 0.63 / AQ_t-1 0.18) |
| SGI: 4.35 (Revenue 187.1m / 43.1m) |
| TATA: 0.10 (NI 277.1m - CFO -401.2m) / TA 6.69b) |
| Beneish M = 0.90 (Cap -4..+1) = D |
As of May 26, 2026, the stock is trading at USD 63.64 with a total of 52,481,300 shares traded.
Over the past week, the price has changed by +22.50%,
over one month by +45.16%,
over three months by +89.46% and
over the past year by +32.47%.
IONQ has received a consensus analysts rating of 4.40. Therefore, it is recommended to buy IONQ.
- StrongBuy: 3
- Buy: 1
- Hold: 1
- Sell: 0
- StrongSell: 0
| Analysts Target Price | 67.6 | 6.3% |
P/E Trailing = 151.6282
P/S = 117.9747
P/B = 3.936
Revenue TTM = 187.1m USD
EBIT TTM = -796.0m USD
EBITDA TTM = -677.4m USD
Long Term Debt = 21.3m USD (estimated: total debt 30.4m - short term 9.16m)
Short Term Debt = 9.16m USD (from shortTermDebt, last quarter)
Debt = 30.4m USD (from shortLongTermDebtTotal, last quarter) (leases 30.4m already included)
Net Debt = -2.00b USD (calculated: Debt 30.4m - CCE 2.03b)
Enterprise Value = 20.1b USD (22.1b + Debt 30.4m - CCE 2.03b)
Interest Coverage Ratio = unknown (Ebit TTM -796.0m / Interest Expense TTM 0.0)
EV/FCF = -47.25x (Enterprise Value 20.1b / FCF TTM -424.8m)
FCF Yield = -2.12% (FCF TTM -424.8m / Enterprise Value 20.1b)
FCF Margin = -227.0% (FCF TTM -424.8m / Revenue TTM 187.1m)
Net Margin = 148.1% (Net Income TTM 277.1m / Revenue TTM 187.1m)
Gross Margin = 38.08% ((Revenue TTM 187.1m - Cost of Revenue TTM 115.9m) / Revenue TTM)
Gross Margin QoQ = 23.84% (prev 56.48%)
Tobins Q-Ratio = 3.00 (Enterprise Value 20.1b / Total Assets 6.69b)
Interest Expense / Debt = 0.0% (Interest Expense 0.0 / Debt 30.4m)
Taxrate = 21.0% (US default 21%)
NOPAT = -628.8m (EBIT -796.0m * (1 - 21.00%)) [loss with tax shield]
Current Ratio = 14.05 (Total Current Assets 2.30b / Total Current Liabilities 163.9m)
Debt / Equity = 0.01 (Debt 30.4m / totalStockholderEquity, last quarter 4.98b)
Debt / EBITDA = 2.96 (negative EBITDA) (Net Debt -2.00b / EBITDA -677.4m)
Debt / FCF = 4.72 (negative FCF - burning cash) (Net Debt -2.00b / FCF TTM -424.8m)
Total Stockholder Equity = 3.05b (last 4 quarters mean from totalStockholderEquity)
RoA = 7.35% (Net Income 277.1m / Total Assets 6.69b)
RoE = 8.05% (Net Income TTM 277.1m / Total Stockholder Equity 3.44b)
RoCE = -22.99% (EBIT -796.0m / Capital Employed (Equity 3.44b + L.T.Debt 21.3m))
RoIC = -9.70% (negative operating profit) (NOPAT -628.8m / Invested Capital 6.49b)
WACC = 16.01% (E(22.1b)/V(22.1b) * Re(16.03%) + D(30.4m)/V(22.1b) * Rd(0.0%) * (1-Tc(0.21)))
Discount Rate = 16.03% (= CAPM, Blume Beta Adj.) -> capped to 13.17%
Shares (quarterly) Correlation: 100.00 | Cagr: 30.12%
[DCF] Fair Price = unknown (Cash Flow -424.8m)
EPS Correlation: N/A | EPS CAGR: N/A | SUE: 2.93 | # QB: 3
Revenue Correlation: 96.61 | Revenue CAGR: 123.5% | SUE: 1.94 | # QB: 4
EPS current Quarter (2026-06-30): EPS=-0.60 | Chg30d=-16.56% | Revisions=-33% | Analysts=6
EPS next Quarter (2026-09-30): EPS=-0.58 | Chg30d=-13.18% | Revisions=-33% | Analysts=6
EPS current Year (2026-12-31): EPS=0.33 | Chg30d=+115.83% | Revisions=+25% | GrowthEPS=+118.1% | GrowthRev=+106.7%
EPS next Year (2027-12-31): EPS=-2.37 | Chg30d=-11.48% | Revisions=-50% | GrowthEPS=-818.0% | GrowthRev=+44.7%
[Analyst] Revisions Ratio: -50%