D-Wave Quantum (QBTS) Financial Ratios

For fiscal 2025 (fiscal year ended Dec 31, 2025), D-Wave Quantum had return on equity of -77.6% (up from -754.0%), debt-to-equity of 0.05 (down from 0.61), a current ratio of 42.38 (up from 6.14) and return on assets of -11.2% (up from -37.2%). A current ratio of 42.38 means current assets exceed current liabilities.

D-Wave Quantum Financial Ratios Analysis

Valuation, profitability, leverage, and liquidity ratios

Income Statement Balance Sheet Cash Flow Ratios

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Breakdown	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period ending	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Valuation Ratios
P/S Ratio	372.38	256.13	16.07	22.39	58.65	75.65
P/B Ratio	10.74	36.09	-5.75	-5.45	121.94	11.93
Price/Tangible Book	10.76	36.37	-	-	-	-
Enterprise Value Ratios
EV/Revenue	339.99	259.00	15.41	23.71	-	-
Profitability & Returns
Return on Equity (ROE)	-77.62%	-753.98%	-	-	-176.48%	-
Return on Assets (ROA)	-11.24%	-37.24%	-116.66%	-124.79%	-60.80%	-
Return on Capital Employed (ROCE)	-11.20%	-45.50%	-167.40%	-545.10%	-174.50%	-88.70%
Leverage & Solvency Ratios
Debt/Equity	0.05	0.61	-2.97	-1.44	7.01	0.14
Liquidity Ratios
Current Ratio	42.38	6.14	4.18	0.87	1.86	3.45
Quick Ratio	42.05	5.96	3.82	0.51	1.43	3.13
Efficiency Ratios
Asset Turnover	0.04	0.07	0.20	0.24	0.16	-
Inventory Turnover	1.92	1.73	1.94	1.36	0.76	-
Yield & Distribution Ratios
Earnings Yield	-3.88%	-6.36%	-58.77%	-33.45%	-8.57%	-2.57%
FCF Yield	-0.83%	-1.98%	-43.50%	-28.43%	-9.93%	-7.69%
Buyback Yield	-67.18%	-39.23%	-15.33%	-3678.01%	-	-

Source: Company financial statements from annual and quarterly filings. Data as of Jun 30, 2026. Data sources and methodology

Frequently Asked Questions About D-Wave Quantum Financial Ratios

What is D-Wave Quantum's return on equity?

D-Wave Quantum's return on equity (ROE) was -77.6% for fiscal 2025 (period ended Dec 31, 2025). It was -754.0% a year earlier.

What is D-Wave Quantum's debt-to-equity ratio?

D-Wave Quantum's debt-to-equity ratio was 0.05 for fiscal 2025 (period ended Dec 31, 2025). It was 0.61 a year earlier.

What is return on equity (ROE)?

Return on equity is net income divided by shareholders' equity. It measures how much profit a company generates from the capital its shareholders have invested. Full definition