(QBTS) D-Wave Quantum - Ratings and Ratios
Quantum Systems, Cloud Service, Hybrid Solvers, Developer Tools
QBTS EPS (Earnings per Share)
QBTS Revenue
| Risk via 10d forecast | |
|---|---|
| Volatility | 125% |
| Value at Risk 5%th | 166% |
| Reward | |
|---|---|
| Sharpe Ratio | 2.40 |
| Alpha Jensen | 977.40 |
| Character | |
|---|---|
| Hurst Exponent | 0.551 |
| Beta | 1.522 |
| Drawdowns 3y | |
|---|---|
| Max DD | 83.80% |
| Mean DD | 43.95% |
Description: QBTS D-Wave Quantum November 05, 2025
D-Wave Quantum Inc. (NASDAQ: QBTS) designs, manufactures, and services quantum-annealing computers, delivering hardware (Advantage and Advantage 2 systems), software (the Ocean open-source toolkit), and cloud-based access via its Leap platform. The company’s offerings combine quantum annealers with classical resources to tackle optimization problems in logistics, scheduling, drug discovery, and portfolio management.
Key operational metrics (as of FY 2023) include roughly $30 million in annual revenue, a cash balance of about $85 million, and a research-and-development spend representing ~45 % of revenue-reflecting the capital-intensive nature of quantum-hardware development. D-Wave’s flagship Advantage system features a 5,000-qubit annealer, positioning it as the most powerful commercially available quantum-annealing device.
The quantum-computing market is still nascent but is projected by IDC to grow at a compound annual growth rate of ~30 % through 2034, driven by increasing enterprise interest in hybrid quantum-classical solvers for complex optimization. D-Wave’s focus on annealing differentiates it from gate-model competitors (e.g., IBM, Rigetti), targeting a niche where quantum advantage can be demonstrated earlier, though it also narrows its addressable addressable market to annealing-friendly workloads.
For a deeper quantitative assessment of QBTS’s valuation metrics, the ValueRay platform offers a concise dashboard of peer-adjusted multiples and forward cash-flow scenarios.
QBTS Stock Overview
| Market Cap in USD | 10,329m |
| Sub-Industry | Electronic Equipment & Instruments |
| IPO / Inception | 2022-08-08 |
| Return 12m vs S&P 500 | 1,379% |
| Analyst Rating | 4.50 of 5 |
QBTS Dividends
| Dividend Yield | 0.04% |
| Yield on Cost 5y | 0.10% |
| Yield CAGR 5y | % |
| Payout Consistency | 100.0% |
| Payout Ratio | - |
QBTS Growth Ratios
| CAGR | 119.54% |
| CAGR/Max DD Calmar Ratio | 1.43 |
| CAGR/Mean DD Pain Ratio | 2.72 |
| Current Volume | 38773.2k |
| Average Volume | 45679.7k |
Piotroski VR‑10 (Strict, 0-10) 1.0
| Net Income (-398.8m TTM) > 0 and > 6% of Revenue (6% = 1.45m TTM) |
| FCFTA -0.06 (>2.0%) and ΔFCFTA 117.3pp (YES ≥ +1.0pp, WARN ≥ +0.5pp) |
| NWC/Revenue 3449 % (prev 98.16%; Δ 3350 pp) (YES ≤20% & Δ≤-1pp; WARN ≤25% & Δ≤0 oder ≤40% & Δ≤-3pp) |
| CFO/TA -0.06 (>3.0%) and CFO -51.6m > Net Income -398.8m (YES >=105%, WARN >=100%) |
| NO Net Debt/EBITDA fails (EBITDA <= 0) |
| Current Ratio 54.68 (target 1.5–3.0; WARN 1.2–<1.5 or >3.0–5.0; CFO/TA gate active) |
| Outstanding Shares last Quarter (342.2m) change vs 12m ago 69.76% (target <= -2.0% for YES) |
| Gross Margin 82.82% (prev 64.27%; Δ 18.54pp) >=18% & Δ>=+0.5pp (WARN >=15% & Δ>=0) |
| Asset Turnover 5.28% (prev 19.01%; Δ -13.74pp) >=50% & Δ>=+2pp (WARN >=35% & Δ>=0) |
| Interest Coverage Ratio -272.1 (EBITDA TTM -283.7m / Interest Expense TTM 1.05m) >= 6 (WARN >= 3) |
Altman Z'' -6.53
| (A) 0.96 = (Total Current Assets 848.1m - Total Current Liabilities 15.5m) / Total Assets 865.8m |
| (B) -1.09 = Retained Earnings (Balance) -939.7m / Total Assets 865.8m |
| warn (B) unusual magnitude: -1.09 — check mapping/units |
| (C) -0.62 = EBIT TTM -285.7m / Avg Total Assets 457.7m |
| (D) -4.86 = Book Value of Equity -948.8m / Total Liabilities 195.3m |
| Total Rating: -6.53 = (6.56 * A) + (3.26 * B) + (6.72 * C) + (1.05 * D) |
ValueRay F-Score (Strict, 0-100) 51.86
| 1. Piotroski 1.0pt = -4.0 |
| 2. FCF Yield -0.58% = -0.29 |
| 3. FCF Margin data missing |
| 4. Debt/Equity 0.01 = 2.50 |
| 5. Debt/Ebitda 2.92 = -1.65 |
| 7. RoE -97.58% = -2.50 |
| 8. Rev. Trend 51.10% = 3.83 |
| 9. EPS Trend 79.47% = 3.97 |
What is the price of QBTS shares?
Over the past week, the price has changed by -14.89%, over one month by -35.01%, over three months by +42.63% and over the past year by +1614.29%.
Is D-Wave Quantum a good stock to buy?
Based on momentum, paid dividends and discounted-cash-flow analyses, the fair value of QBTS is around 23.40 USD . This means that QBTS is currently overvalued and has a potential downside of -11.36%.
Is QBTS a buy, sell or hold?
- Strong Buy: 3
- Buy: 3
- Hold: 0
- Sell: 0
- Strong Sell: 0
What are the forecasts/targets for the QBTS price?
| Issuer | Target | Up/Down from current |
|---|---|---|
| Wallstreet Target Price | 29.9 | 13.2% |
| Analysts Target Price | 29.9 | 13.2% |
| ValueRay Target Price | 26.8 | 1.6% |
QBTS Fundamental Data Overview November 11, 2025
P/S = 427.7913
P/B = 14.3901
Beta = 1.522
Revenue TTM = 24.1m USD
EBIT TTM = -285.7m USD
EBITDA TTM = -283.7m USD
Long Term Debt = 30.1m USD (from longTermDebt, last fiscal year)
Short Term Debt = 1.64m USD (from shortTermDebt, last quarter)
Debt = 7.74m USD (from shortLongTermDebtTotal, last quarter)
Net Debt = -828.5m USD (from netDebt column, last quarter)
Enterprise Value = 9.50b USD (10.33b + Debt 7.74m - CCE 836.2m)
Interest Coverage Ratio = -272.1 (Ebit TTM -285.7m / Interest Expense TTM 1.05m)
FCF Yield = -0.58% (FCF TTM -54.8m / Enterprise Value 9.50b)
FCF Margin = -226.8% (FCF TTM -54.8m / Revenue TTM 24.1m)
Net Margin = -1652 % (Net Income TTM -398.8m / Revenue TTM 24.1m)
Gross Margin = 82.82% ((Revenue TTM 24.1m - Cost of Revenue TTM 4.15m) / Revenue TTM)
Gross Margin QoQ = 71.38% (prev 63.84%)
Tobins Q-Ratio = 10.97 (Enterprise Value 9.50b / Total Assets 865.8m)
Interest Expense / Debt = 2.60% (Interest Expense 201.0k / Debt 7.74m)
Taxrate = 100.0% (out of range, set to none) (-143.9m / -143.9m)
NOPAT = unknown (EBIT/Op.Income or Taxrate missing)
Current Ratio = 54.68 (Total Current Assets 848.1m / Total Current Liabilities 15.5m)
Debt / Equity = 0.01 (Debt 7.74m / totalStockholderEquity, last quarter 670.6m)
Debt / EBITDA = 2.92 (negative EBITDA) (Net Debt -828.5m / EBITDA -283.7m)
Debt / FCF = 15.13 (negative FCF - burning cash) (Net Debt -828.5m / FCF TTM -54.8m)
Total Stockholder Equity = 408.7m (last 4 quarters mean from totalStockholderEquity)
RoA = -46.06% (Net Income -398.8m / Total Assets 865.8m)
RoE = -97.58% (Net Income TTM -398.8m / Total Stockholder Equity 408.7m)
RoCE = -65.11% (EBIT -285.7m / Capital Employed (Equity 408.7m + L.T.Debt 30.1m))
RoIC = -2030 % (out of range, set to none) (EBIT -285.7m / (Assets 865.8m - Curr.Liab 15.5m - Cash 836.2m))
WACC = 11.61% (E(10.33b)/V(10.34b) * Re(11.62%) + (debt cost/tax rate unavailable))
Discount Rate = 11.62% (= CAPM, Blume Beta Adj.)
Shares Correlation 3-Years: 100.0 | Cagr: 46.77%
Fair Price DCF = unknown (Cash Flow -54.8m)
EPS Correlation: 79.47 | EPS CAGR: 28.67% | SUE: 0.60 | # QB: 0
Revenue Correlation: 51.10 | Revenue CAGR: 17.58% | SUE: 0.37 | # QB: 0
Additional Sources for QBTS Stock
Tweets: X | Stocktwits
Fund Manager Positions: Dataroma | Stockcircle