QualityDipStocks / Technology · IT services
D-Wave Quantum QBTS
Outside our quality screen, so we don’t track its dips. It’s 71% below its 52-week high.
Outside our quality screen, 28% under its Market Value. No fair value estimate for now: its free cash flow is negative.
- Fair value est.
- n/a
- Market Value
- $14.83price −28%
- Off 52-wk high
- −71%
- Risk vs market
- Highbeta 4.20
5 bullish · 5 bearish See why
Key levels
Every level vs today’s $10.65
- 52-wk lowlowest close, 1 year$10.65at the price
- PriceFri Oct 30 close$10.65you are here
- Market Valueavg paid since Sep 9$14.83+39.2%
- 52-wk highhighest close, 1 year$37.06+248.0%
Fair value estimate
No estimate for QBTS: negative free cash flow. We’d rather show nothing than a made-up number.
Risk vs market
How risk vs market is measured
One year of daily returns (Oct 30 to Oct 30, 252 sessions). Beta = how much QBTS moved for each 1% move in the S&P 500 (SPY); 1.0 moves with the market. Volatility is the yearly standard deviation of daily returns. Past behavior, not a forecast.
Swings much more than the market, and its own price swings are 8.0× the S&P 500’s.
- Beta vs S&P 500
- 4.20
- Volatility
- 103% vs 13% SPY
- Correlation SPY
- 0.52
- Correlation QQQ
- 0.54
Bull vs bear
Rule-based from the data on this page, strongest first. Not advice.
Top bullish points 5 of 5
GrowthSales grew 470% to $30M over the last 12 months vs the 12 months before (SEC filings).
ProfitabilityGross margin widened to 82.6% in FY2025 from 52.8% in FY2023 (SEC filings).
GrowthSales compounded 51% a year from FY2022 to FY2025.
Balance sheetNet cash of $511M: cash and short-term investments exceed debt (Jun 30, 2026).
ValuationTrades 28.2% below its Market Value of $14.83, the average price paid since the Sep 9 filing.
Top bearish points 5 of 5
ValuationFree cash flow is negative (−$119M over the last 12 months), so there’s no cash-flow value under the price.
Balance sheetOperating income covers interest only -41.7× over the last 12 months.
ProfitabilityLost $249M over the last 12 months (net income, SEC filings).
Cash returnsShare count up 22.7% in a year: existing holders are being diluted.
QualityDoesn’t pass our quality screen: no positive free cash flow; ROE under 12% and ROIC under 10%; sales down vs the year-ago quarter.
Who’s talking about it
Notable investors, executives, analysts and public figures on D-Wave Quantum in the last 48 hours. Headlines as published, each linked. Their words, not ours.
No notable mentions in the last 48 hours. Checked Nov 1, 9:09 PM ET.
Compare with peers
Closest in size in IT services
All fundamentals
FCF yield -2.7% · ROE -28% · Sales +470%
Valuation
- P/E
- n/aloss over the last 12 months
- Price / FCF
- n/anegative free cash flow
- FCF yield
- −2.7%
- EV / EBITDA
- n/anegative EBITDA
- Price / sales
- 149.05×
- Price / book
- 4.06×
- Market cap
- $4.4Blisted
- Enterprise value
- $3.9B
Growth
- Revenue, 12 months
- $30M
- Sales growth, 12 months
- +470.0%vs the 12 months before
- Sales growth, 3 yrs
- +50.8%/yrfrom FY2022
- Diluted EPS, 12 months
- −$0.70
- EPS growth, last FY
- n/afewer than two years of diluted EPS
- Net income, 12 months
- −$249M
- Net income growth
- n/anot reported in its SEC filings
Profitability
- Gross margin
- 27.0%
- Operating margin
- n/an/m
- Net margin
- n/an/m
- FCF margin
- n/an/m: revenue near zero
- Return on equity
- −28%
- Return on invested capital
- −24%
Balance sheet
- Cash & short-term inv.
- $546M
- Total debt
- $35M
- Net cash
- $511M
- Debt / equity
- 0.03×
- Interest coverage
- -41.7×operating income / interest
Cash flow & returns
- Free cash flow, 12 months
- −$119M
- FCF growth, 12 months
- n/anot reported in its SEC filings
- Dividend yield
- 0%
- Payout ratio
- n/anot reported in its SEC filings
- Buybacks, 12 months
- n/anot reported in its SEC filings
- Share count, 1 year
- +22.7%diluted shares vs a year ago
- Stock-based comp
- $31M
Trailing 12 months to Jun 30, 2026; balance sheet at Jun 30, 2026. From D-Wave Quantum’s SEC filings. Sparklines show up to six fiscal years. n/a means we don’t hold that number, with the reason. How each is computed.
Valuation details
MV $14.83
Setup & signals
No setup armed
No setup armed, so there’s no trigger or stop to track yet. Reversal signal rules only run on companies that pass our quality screen.
Momentum & 52-week range
RSI 27 · 5 days −8.7%
The business
FCF $-0.1B · Sales −1%
- Free cash flow, 12 months−$0.1B
- Free-cash-flow yield−2.7%
- Gross margin64%
- Operating marginn/m
- Return on invested capital−28%
- Return on equity−28%
- Sales growth (latest quarter vs year-ago quarter)−1%
Next report
Nov 10
- DateTue Nov 10, before the open
- Consensus EPS($0.10)
- Year-ago EPS($0.41)
- QuarterSep/2026
From Nasdaq’s earnings calendar. A report resets Market Value.
Information only, not investment advice. Fair value estimates and talking points are rule-based model output from public data and can be wrong; stop levels are reference points, not orders. How every number is computed.
QBTS is outside our quality screen
One text when a published rule fires on one of the 333 quality companies we track: the ticker, the price, the stop and a link to the numbers. Nothing else.