D-Wave Quantum Inc. (QBTS) is a publicly traded company in the Technology — Computer Hardware industry listed on NASDAQ. This overview shows the latest price, key valuation ratios, profitability metrics and financial-health indicators used by fundamental investors.
Operating globally, D-Wave Quantum Inc. specializes in developing and supplying quantum computing systems, software, and related services. Their offerings include Advantage, a pioneering fifth-generation quantum computer, and Launch, an onboarding service designed for quantum computing adoption. The company also provides Ocean, a comprehensive suite of open-source programming tools.
Is D-Wave Quantum Inc. stock overvalued or undervalued in 2026?
As of November 3, 2026, D-Wave Quantum Inc. (QBTS) trades at $10.37 with no positive earnings over the last twelve months, according to Kaplio. No valuation verdict: it has no earnings to calculate a P/E from.
Kaplio overview: D-Wave Quantum Inc.
Market cap $4B · 52 weeks $10 – $32 (68% below the high) · P/E no earnings · Dividend none · Next earnings November 10, 2026 · expected EPS -$0.10 · Closing price, Nov 3 · accounts published Aug 6.
- Valuation: P/Sales 49.2× (no earnings).
- Business: ROIC −14% (weak).
- Balance sheet: Altman Z 78.6 (solid).
- Earnings: 2 of 8 (disappointing).
Where would it trade at its usual multiples?
No valuation verdict: it has no earnings to calculate a P/E from.
What matters in technology: 1 of 5 pass
- 3y revenue growth 8.5%, fails.
- FCF / Revenue −308.5%, fails.
- ROIC −13.5%, fails.
- SBC / Revenue 92.2%, fails.
- Gross margin 82.6%, passes.
- Net debt / EBITDA n. s., info.
Against its peers (reference peers) — D-Wave Quantum Inc.: P/E —; EV/EBITDA —; ROIC -13.5%; $3.9B. IonQ, Inc. (P/E —; EV/EBITDA 6.0×; ROIC -15.5%; $12.9B), Logitech International S.A. (P/E 16.7×; EV/EBITDA 12.2×; ROIC 29.6%; $13.2B), Super Micro Computer, Inc. (P/E 6.6×; EV/EBITDA 4.6×; ROIC 17.2%; $20.6B).
Profitability
| Return on Equity | -26.67% |
| Return on Invested Capital | -13.52% |
| Return on Assets | -21.47% |
| Gross Margin | 64.19% |
| Operating Margin | -1,372.88% |
| Net Margin | -2,001.59% |
Financial Health
| Debt / Equity | 0.01 |
| Current Ratio | 20.55 |
| Piotroski F-Score | 5 |
| Altman Z-Score | 78.57 |
Price Performance
| 1 month | -33.70% |
| 3 months | -46.57% |
| Year-to-date | -60.34% |
| 1 year | -65.13% |
| 3 years | +1081.63% |
| 5 years | +5.60% |
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Explore sector: Technology · Computer Hardware
More sections of QBTS: Financials · Valuation · Estimates · Technical · Ownership
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