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Investlytic score: 2/5 criteria met.
- ✅ Price trend passed
- ⚠️ Mixed growth
- ✅ Debt passed
- ❌ P/E failed
- ❌ Correction failed
Price trend
Overall trend (8 years): the price has been multiplied by at least 1.5.
Price change 2020 → 2021: -5.67%
Price change 2021 → 2022: -85.34%
Price change 2022 → 2023: -38.88%
Price change 2023 → 2024: 854.44%
Price change 2024 → 2025: 211.31%
Price change 2025 → 2026: -30.86%
Price change 2026 (year to date): -35.73%
Financial growth
Revenue CAGR (6 years): 36.65%
Earnings CAGR (6 years): N/A
Growth status: positive trend (>1%/yr) in revenue, earnings data insufficient/N/A.
Debt
Debt-to-equity ratio: 0.05
Debt/equity < 0.5 (maximum threshold).
P/E (Price/Earnings)
P/E ratio: -23.19
P/E > 25.0 (maximum threshold).
Correction (6 months)
Current correction: 40.01% from the high over 6 months.
Excessive correction (> 20.0%).
Criteria of the Investlytic model
- / 5Free with the Investlytic logo. Paste this line into your page: options.
<script src="https://investlytic.co/encart.js" data-symbole="QBTS" data-lang="en"></script>Price trend
Price & trend
Interactive chart →💰 Dividend
Dividend ranking →⚖️ Comparison with the market
All stocks →| Stock | P/E | Dette/FP | Revenue growth | Rating |
|---|---|---|---|---|
| D-Wave Quantum Inc. | – | 0.05 | +36.6 % | 🔒 |
| Sopra Steria Group S.A. | 12.6 | 0.57 | +11.1 % | – |
| Belden Inc. | 13.7 | 1.11 | +3.8 % | – |
| Rigetti Computing, Inc. | – | 0.01 | +45.9 % | – |
| Badger Meter, Inc. | 33.9 | 0.00 | +8.3 % | – |
Data from the Investlytic screener. The rating of the stock being viewed is reserved for members.
Detailed analysis · Price trend
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Revenues & profits
Revenue and net income
Financial indicators
Annual financial statements
| Fiscal year | Revenue | Net income | Net margin | EPS | Revenue growth |
|---|
Key reported figures
Revenue, net income and net margin reported by D-Wave Quantum Inc. over the latest fiscal years.
| Fiscal year | Revenue | Net income | Net margin | Revenue growth |
|---|---|---|---|---|
| 2020 | 5.2 m | -22.0 m | -425.7 % | n/a |
| 2021 | 6.3 m | -41.0 m | -652.5 % | +21.7 % |
| 2022 | 7.2 m | -53.7 m | -748.7 % | +14.2 % |
| 2023 | 8.8 m | -82.7 m | -944.5 % | +22.1 % |
| 2024 | 8.8 m | -144 m | -1,630.0 % | +0.8 % |
| 2025 | 24.6 m | -355 m | -1,444.1 % | +178.5 % |
Amounts converted to USD. Source: published annual accounts, collected on 06/11/2026.
Accounts and financial health
Balance sheet and cash flow published by D-Wave Quantum Inc. over the last fiscal years, strength scores and valuation by discounted cash flow (DCF).
| Fiscal year | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Cash and investments | 9.5 m | 7.1 m | 41.3 m | 178 m | 884 m |
| Total Debt | 39.4 m | 42.3 m | 72.7 m | 38.4 m | 43.5 m |
| Net Debt | 29.9 m | 35.2 m | 31.3 m | -140 m | -592 m |
| Equity | -18.4 m | -29.5 m | -24.5 m | 62.6 m | 852 m |
| Total assets | 29.5 m | 26.9 m | 59.4 m | 200 m | 916 m |
| Operating cash flow | -34.8 m | -45.2 m | -60.6 m | -42.6 m | -72.0 m |
| Investments (capex) | 1.8 m | 423,000 | 583,000 | 2.1 m | 3.9 m |
| Free cash-flow | -36.8 m | -45.7 m | -61.3 m | -44.7 m | -75.8 m |
| Share buybacks | 0 | 0 | 0 | 0 | 0 |
| Dividends paid | 0 | 0 | 0 | 0 | 0 |
Amounts in USD, currency of the published accounts.
Trailing 12-month ratios
Altman Z: default risk estimated from the balance sheet and earnings. Piotroski: 9 tests on profitability, debt and efficiency. DCF: estimated value from discounted future cash flows, a model and not a forecast. Source: annual accounts published by the company, data as of 09/11/2026.
Valuation and competitors
D-Wave Quantum Inc. compared with its sector on the same exchange and with its main competitors.
Direct competitors
| Company | Market cap (USD) | P/E | Net margin |
|---|---|---|---|
| D-Wave Quantum Inc. | 4.0 bn | n/a | -1,444.1 % |
| IonQ, Inc. IONQ | 12.9 bn | n/a | -392.6 % |
| Rigetti Computing, Inc. RGTI | 3.8 bn | n/a | -3,050.4 % |
| Quantum Computing, Inc. QUBT | 1.5 bn | n/a | -2,738.1 % |
| Arqit Quantum Inc. ARQQ | 274 m | n/a | -6,668.5 % |
| Sector median (NYSE) | 32.9 |
Trailing 12-month P/E. Sector: median of companies in the same sector listed on the same exchange, collected on . Competitors: comparable companies named by the data provider.
Analyst consensus and forecasts
What the financial analysts covering D-Wave Quantum Inc. publish: ratings, price targets and earnings forecasts.
Breakdown of ratings
Average target over the last 3 months: 35.00 USD (4 targets).
Track record against expectations: reported EPS above consensus 3 times over the last 12 releases.
Source: ratings and forecasts published by analysts, collected on 07/11/2026. An analyst rating or target is not a guarantee.
Dividends and earnings
D-Wave Quantum Inc.: dividend history, last distributions, stock splits and earnings releases.
No known dividend for this company.
Earnings releases
Next release: 10/11/2026. Expected EPS: -0.10.
Factual data: ex-dividend history and earnings calendar, as of 05/11/2026. A past dividend does not guarantee the next one.
Who owns the stock
Free float, institutional investors, large funds, executives and elected officials: declared positions in D-Wave Quantum Inc.
Sources: 13F filings (quarter shown), executives' Form 4 filings and US Congress members' disclosures, collected on 31/10/2026. Detailed disclosure obligations mainly apply to companies listed in the United States.
PEA and practical information
Rule applied: the French PEA accepts shares of companies headquartered in the European Union or the European Economic Area and subject to corporate income tax; ADRs and tax-exempt property companies (SIIC) are excluded. The institution holding the PEA confirms eligibility.
Frequently asked questions about D-Wave Quantum Inc.
What is the D-Wave Quantum Inc. share price?
Latest recorded price: 10.68 USD on 06/11/2026, for a market cap of 4.0 bn USD.
What is the revenue of D-Wave Quantum Inc.?
24.6 m USD for fiscal year 2025, with net income of -355 m USD (net margin -1,444.1 %).
When does D-Wave Quantum Inc. report its next earnings?
The next release is expected on 10/11/2026. EPS expected by analysts: -0.10.
What do analysts say about D-Wave Quantum Inc.?
Out of 13 analysts: 13 buy or strong buy, 0 hold, 0 sell or strong sell. Average price target: 35.00 USD, i.e. +228.6 % from the share price.
Is D-Wave Quantum Inc. stock eligible for the French PEA?
No: the company is headquartered outside the European Union and the European Economic Area (ISIN US26740W1099).
How many employees does D-Wave Quantum Inc. have?
216 full-time employees according to the latest published profile.
Who runs D-Wave Quantum Inc.?
Alan E. Baratz is the company's chief executive.