(QBTS) D-Wave Quantum - Overview
Exchange: NYSE •
Country: United States •
Currency: USD •
Type: Common Stock •
ISIN: US26740W1099
Stock: Quantum Computers, Hybrid Solvers, Cloud Service, Developer Tools
Total Rating 36
Risk 41
Buy Signal -1.50
| Risk 5d forecast | |
|---|---|
| Volatility | 104% |
| Relative Tail Risk | -17.6% |
| Reward TTM | |
|---|---|
| Sharpe Ratio | 1.50 |
| Alpha | 175.31 |
| Character TTM | |
|---|---|
| Beta | 2.093 |
| Beta Downside | 0.396 |
| Drawdowns 3y | |
|---|---|
| Max DD | 79.18% |
| CAGR/Max DD | 2.41 |
EPS (Earnings per Share)
Revenue
Risks
Technicals:
volatile
Description: QBTS D-Wave Quantum March 02, 2026
D-Wave Quantum Inc. (NYSE: QBTS) designs, manufactures, and services quantum annealing computers, offering hardware such as the Advantage and Advantage 2 systems, the Ocean open-source software suite, and the Leap cloud platform that delivers real-time access to quantum processors and hybrid quantum-classical solvers for enterprise-scale problems.
In its most recent fiscal year (2023), D-Wave generated roughly $46 million in revenue and held about $120 million in cash and short-term investments, giving it a market capitalization near $1.2 billion. The Advantage 2 processor now supports over 5,000 qubits, and the company announced a new multi-year partnership with a major automotive supplier to optimize vehicle routing and supply-chain logistics.
The quantum-computing sector is being propelled by a projected 30% compound annual growth rate through 2030, driven by rising demand for AI-enhanced optimization, increased federal R&D funding (the U.S. allocated ~$1.5 billion to quantum research in FY 2024), and expanding enterprise adoption in finance, pharma, and manufacturing.
For a deeper dive into QBTS valuation and how it fits into a broader portfolio, you might explore the analysis on ValueRay.
Piotroski VR‑10 (Strict, 0-10) 1.0
| Net Income: -355.1m TTM > 0 and > 6% of Revenue |
| FCF/TA: -0.08 > 0.02 and ΔFCF/TA 14.25 > 1.0 |
| NWC/Revenue: 3559 % < 20% (prev 1755 %; Δ 1804 % < -1%) |
| CFO/TA -0.08 > 3% & CFO -72.0m > Net Income -355.1m |
| Net Debt/EBITDA: error (EBITDA <= 0) |
| Current Ratio: 42.38 > 1.5 & < 3 |
| Outstanding Shares: last quarter (352.9m) vs 12m ago 51.48% < -2% |
| Gross Margin: 82.59% > 18% (prev 0.63%; Δ 8196 % > 0.5%) |
| Asset Turnover: 4.41% > 50% (prev 4.42%; Δ -0.01% > 0%) |
| Interest Coverage Ratio: -87.48 > 6 (EBITDA TTM -348.9m / Interest Expense TTM 4.01m) |
Altman Z'' -15.00
| A: 0.96 (Total Current Assets 896.2m - Total Current Liabilities 21.1m) / Total Assets 915.8m |
| B: -1.07 (Retained Earnings -982.0m / Total Assets 915.8m) |
| C: -0.63 (EBIT TTM -351.0m / Avg Total Assets 557.8m) |
| D: -15.59 (Book Value of Equity -991.0m / Total Liabilities 63.6m) |
| Altman-Z'' Score: -17.82 = D |
Beneish M -3.17
| DSRI: 0.40 (Receivables 1.59m/1.42m, Revenue 24.6m/8.83m) |
| GMI: 0.76 (GM 82.59% / 63.02%) |
| AQI: 0.33 (AQ_t 0.01 / AQ_t-1 0.02) |
| SGI: 2.79 (Revenue 24.6m / 8.83m) |
| TATA: -0.31 (NI -355.1m - CFO -72.0m) / TA 915.8m) |
| Beneish M-Score: -3.17 (Cap -4..+1) = AA |
What is the price of QBTS shares?
As of March 02, 2026, the stock is trading at USD 18.78 with a total of 25,633,554 shares traded.
Over the past week, the price has changed by +4.04%, over one month by -10.44%, over three months by -12.32% and over the past year by +283.27%.
Over the past week, the price has changed by +4.04%, over one month by -10.44%, over three months by -12.32% and over the past year by +283.27%.
Is QBTS a buy, sell or hold?
D-Wave Quantum has received a consensus analysts rating of 4.50.
Therefore, it is recommended to buy QBTS.
- StrongBuy: 3
- Buy: 3
- Hold: 0
- Sell: 0
- StrongSell: 0
What are the forecasts/targets for the QBTS price?
| Issuer | Target | Up/Down from current |
|---|---|---|
| Wallstreet Target Price | 37.6 | 100.3% |
| Analysts Target Price | 37.6 | 100.3% |
QBTS Fundamental Data Overview March 02, 2026
P/S = 282.4823
P/B = 10.3577
Revenue TTM = 24.6m USD
EBIT TTM = -351.0m USD
EBITDA TTM = -348.9m USD
Long Term Debt = 32.1m USD (from longTermDebt, two quarters ago)
Short Term Debt = 1.58m USD (from shortTermDebt, last quarter)
Debt = 7.63m USD (from shortLongTermDebtTotal, last quarter)
Net Debt = -627.7m USD (from netDebt column, last quarter)
Enterprise Value = 6.07b USD (6.95b + Debt 7.63m - CCE 884.5m)
Interest Coverage Ratio = -87.48 (Ebit TTM -351.0m / Interest Expense TTM 4.01m)
EV/FCF = -80.01x (Enterprise Value 6.07b / FCF TTM -75.8m)
FCF Yield = -1.25% (FCF TTM -75.8m / Enterprise Value 6.07b)
FCF Margin = -308.5% (FCF TTM -75.8m / Revenue TTM 24.6m)
Net Margin = -1444 % (Net Income TTM -355.1m / Revenue TTM 24.6m)
Gross Margin = 82.59% ((Revenue TTM 24.6m - Cost of Revenue TTM 4.28m) / Revenue TTM)
Gross Margin QoQ = 64.83% (prev 71.38%)
Tobins Q-Ratio = 6.63 (Enterprise Value 6.07b / Total Assets 915.8m)
Interest Expense / Debt = 44.29% (Interest Expense 3.38m / Debt 7.63m)
Taxrate = 21.0% (US default 21%)
NOPAT = -277.3m (EBIT -351.0m * (1 - 21.00%)) [loss with tax shield]
Current Ratio = 42.38 (Total Current Assets 896.2m / Total Current Liabilities 21.1m)
Debt / Equity = 0.01 (Debt 7.63m / totalStockholderEquity, last quarter 852.2m)
Debt / EBITDA = 1.80 (negative EBITDA) (Net Debt -627.7m / EBITDA -348.9m)
Debt / FCF = 8.28 (negative FCF - burning cash) (Net Debt -627.7m / FCF TTM -75.8m)
Total Stockholder Equity = 606.1m (last 4 quarters mean from totalStockholderEquity)
RoA = -63.65% (Net Income -355.1m / Total Assets 915.8m)
RoE = -58.58% (Net Income TTM -355.1m / Total Stockholder Equity 606.1m)
RoCE = -55.01% (EBIT -351.0m / Capital Employed (Equity 606.1m + L.T.Debt 32.1m))
RoIC = -49.90% (negative operating profit) (NOPAT -277.3m / Invested Capital 555.7m)
WACC = 13.65% (E(6.95b)/V(6.95b) * Re(13.63%) + D(7.63m)/V(6.95b) * Rd(44.29%) * (1-Tc(0.21)))
Discount Rate = 13.63% (= CAPM, Blume Beta Adj.)
Shares Correlation 3-Years: 100.0 | Cagr: 49.05%
[DCF] Fair Price = unknown (Cash Flow -75.8m)
EPS Correlation: 58.10 | EPS CAGR: 2.35% | SUE: -1.16 | # QB: 0
Revenue Correlation: 70.99 | Revenue CAGR: 13.48% | SUE: -0.55 | # QB: 0
EPS next Quarter (2026-06-30): EPS=-0.09 | Chg7d=-0.022 | Chg30d=-0.025 | Revisions Net=-3 | Analysts=12
EPS current Year (2026-12-31): EPS=-0.32 | Chg7d=-0.094 | Chg30d=-0.103 | Revisions Net=-2 | Growth EPS=-23.1% | Growth Revenue=+76.4%
EPS next Year (2027-12-31): EPS=-0.35 | Chg7d=-0.138 | Chg30d=-0.149 | Revisions Net=-2 | Growth EPS=-8.7% | Growth Revenue=+96.2%
[Analyst] Revisions Ratio: -1.00 (0 Up / 3 Down within 30d for Next Quarter)
P/B = 10.3577
Revenue TTM = 24.6m USD
EBIT TTM = -351.0m USD
EBITDA TTM = -348.9m USD
Long Term Debt = 32.1m USD (from longTermDebt, two quarters ago)
Short Term Debt = 1.58m USD (from shortTermDebt, last quarter)
Debt = 7.63m USD (from shortLongTermDebtTotal, last quarter)
Net Debt = -627.7m USD (from netDebt column, last quarter)
Enterprise Value = 6.07b USD (6.95b + Debt 7.63m - CCE 884.5m)
Interest Coverage Ratio = -87.48 (Ebit TTM -351.0m / Interest Expense TTM 4.01m)
EV/FCF = -80.01x (Enterprise Value 6.07b / FCF TTM -75.8m)
FCF Yield = -1.25% (FCF TTM -75.8m / Enterprise Value 6.07b)
FCF Margin = -308.5% (FCF TTM -75.8m / Revenue TTM 24.6m)
Net Margin = -1444 % (Net Income TTM -355.1m / Revenue TTM 24.6m)
Gross Margin = 82.59% ((Revenue TTM 24.6m - Cost of Revenue TTM 4.28m) / Revenue TTM)
Gross Margin QoQ = 64.83% (prev 71.38%)
Tobins Q-Ratio = 6.63 (Enterprise Value 6.07b / Total Assets 915.8m)
Interest Expense / Debt = 44.29% (Interest Expense 3.38m / Debt 7.63m)
Taxrate = 21.0% (US default 21%)
NOPAT = -277.3m (EBIT -351.0m * (1 - 21.00%)) [loss with tax shield]
Current Ratio = 42.38 (Total Current Assets 896.2m / Total Current Liabilities 21.1m)
Debt / Equity = 0.01 (Debt 7.63m / totalStockholderEquity, last quarter 852.2m)
Debt / EBITDA = 1.80 (negative EBITDA) (Net Debt -627.7m / EBITDA -348.9m)
Debt / FCF = 8.28 (negative FCF - burning cash) (Net Debt -627.7m / FCF TTM -75.8m)
Total Stockholder Equity = 606.1m (last 4 quarters mean from totalStockholderEquity)
RoA = -63.65% (Net Income -355.1m / Total Assets 915.8m)
RoE = -58.58% (Net Income TTM -355.1m / Total Stockholder Equity 606.1m)
RoCE = -55.01% (EBIT -351.0m / Capital Employed (Equity 606.1m + L.T.Debt 32.1m))
RoIC = -49.90% (negative operating profit) (NOPAT -277.3m / Invested Capital 555.7m)
WACC = 13.65% (E(6.95b)/V(6.95b) * Re(13.63%) + D(7.63m)/V(6.95b) * Rd(44.29%) * (1-Tc(0.21)))
Discount Rate = 13.63% (= CAPM, Blume Beta Adj.)
Shares Correlation 3-Years: 100.0 | Cagr: 49.05%
[DCF] Fair Price = unknown (Cash Flow -75.8m)
EPS Correlation: 58.10 | EPS CAGR: 2.35% | SUE: -1.16 | # QB: 0
Revenue Correlation: 70.99 | Revenue CAGR: 13.48% | SUE: -0.55 | # QB: 0
EPS next Quarter (2026-06-30): EPS=-0.09 | Chg7d=-0.022 | Chg30d=-0.025 | Revisions Net=-3 | Analysts=12
EPS current Year (2026-12-31): EPS=-0.32 | Chg7d=-0.094 | Chg30d=-0.103 | Revisions Net=-2 | Growth EPS=-23.1% | Growth Revenue=+76.4%
EPS next Year (2027-12-31): EPS=-0.35 | Chg7d=-0.138 | Chg30d=-0.149 | Revisions Net=-2 | Growth EPS=-8.7% | Growth Revenue=+96.2%
[Analyst] Revisions Ratio: -1.00 (0 Up / 3 Down within 30d for Next Quarter)