D-Wave Quantum Inc.
PosiFunda Ratios Only on PositoAI
PositoAI's own ratios from D-Wave Quantum Inc.'s yearly results (2022–2025), compared with Technology companies in United States. Tap ? on any ratio for what it means.
What stands out
- Debt Due Cover Ratio: Operating cash was negative last year, while some debt falls due within a year. Lower than almost all Technology companies in United States.
- Tangible Net Worth Ratio: Of every $100 of net worth, $100 is tangible; the rest is goodwill and other intangibles, often from buying other companies. More tangible than 98% of Technology companies in United States.
- Growth Efficiency Ratio: Sales grew 243% in 3 years, but profit fell: $1,731 less profit per $100 of extra sales. Lower than 98% of Technology companies in United States.
Where $100 of sales goes
Latest year (Dec 2025). Taxes and other income are not shown, so the parts need not add up to 100.
Cash quality
Profit Cash Ratio
—Loss-making or profit too small
Over the last 3 years profit was a loss or under 2% of sales, so cash per 100 of profit is not meaningful.
Self-Funding Ratio
-23.9×Over the last 3 years operating cash was negative while the company kept spending on investment (capex).
Lower than 93% of Technology companies in United States.
Cash Locked Ratio
$26For every $100 of sales, $26 is tied up in day-to-day operations (money owed by customers + stock − money owed to suppliers), against $7 from others' credit three years earlier.
More money tied up than 58% of Technology companies in United States.
Growth quality
Steadiness Ratio
3/3 · 0/3Sales grew in 3 of the last 3 years; profit grew in 0 of 3.
Less steady than 66% of Technology companies in United States.
Growth Efficiency Ratio
−$1,731Sales grew 243% in 3 years, but profit fell: $1,731 less profit per $100 of extra sales.
Lower than 98% of Technology companies in United States.
Asset Productivity Ratio
+243% / +3299%In 3 years sales changed by +243% while total assets changed by +3299%. Assets grew faster than sales.
Balance-sheet strength
Debt Due Cover Ratio
-537.2×Operating cash was negative last year, while some debt falls due within a year.
Lower than almost all Technology companies in United States.
Cash Cushion Ratio
+19%Cash, after subtracting all debt, equals 19% of its market value (net cash).
Higher than 85% of Technology companies in United States.
Tangible Assets Ratio
100%Of every $100 the company owns, $100 is in tangible assets such as plants, cash, stock and receivables; the rest is goodwill and other intangibles.
More tangible than 97% of Technology companies in United States.
Tangible Net Worth Ratio
100%Of every $100 of net worth, $100 is tangible; the rest is goodwill and other intangibles, often from buying other companies.
More tangible than 98% of Technology companies in United States.
Shareholders
Standard fundamentals
P/E, P/B, ROE, debt, growth and more (13)
D-Wave Quantum Inc. made a loss over the last year. D-Wave Quantum Inc. owes $0.07 for every $1 it owns. D-Wave Quantum Inc. made a loss in each of the last two years.
Compared with Technology companies in United States · latest annual results Dec 2025.
P/E ratio
LossD-Wave Quantum Inc. made a loss over the last year, so its P/E ratio is not meaningful.
P/B ratio
4.08The share price is 4.08 times D-Wave Quantum Inc.'s book value per share, higher than 61% of Technology companies in United States.
Market cap
$4.4 BThe total market value of all of D-Wave Quantum Inc.'s shares at today's price (share price × number of shares), larger than 66% of Technology companies in United States. PosiCap size class: Meso Cap.
Net worth (book value)
$1.1 BWhat D-Wave Quantum Inc. would have left on paper if it sold everything it owns and paid everything it owes, from its latest balance sheet (30 Jun 2026).
Book value per share
$2.85Net worth divided by the number of shares. The share price of $11.63 is 4.1 times this, which is the P/B above.
Return on equity (ROE)
-28.0%D-Wave Quantum Inc. lost 28.0% of its shareholders' money over the last year, lower than 76% of Technology companies in United States.
Owes vs Owns
0.07×D-Wave Quantum Inc. owes $0.07 for every $1 it owns (low), lower than 97% of Technology companies in United States.
Dividend yield
NoneD-Wave Quantum Inc. does not currently pay a dividend.
Revenue growth
+179%Revenue rose 179% in the year to Dec 2025, and grew 51% a year on average over 3 years.
Profit growth
LossD-Wave Quantum Inc. made a loss in each of the last two years.
Profit margin
-1444.1%D-Wave Quantum Inc. lost $1444 for every $100 of revenue.
Interest cover
Not coveredD-Wave Quantum Inc.'s operating profit did not cover its interest costs in the year to Dec 2025.
Cash vs debt
Net cashD-Wave Quantum Inc. held $841 M more cash than debt (net cash) at Dec 2025.
Questions
How is P/B calculated on PositoAI?
P/B is market cap divided by net worth from the latest balance sheet. For D-Wave Quantum Inc.: $4.4 B ÷ $1.1 B (30 Jun 2026) = 4.1.
What is D-Wave Quantum Inc.'s return on equity?
D-Wave Quantum Inc. lost 28.0% of its shareholders' money over the last year, lower than 76% of Technology companies in United States.
How much does D-Wave Quantum Inc. owe compared with what it owns?
D-Wave Quantum Inc. owes $0.07 for every $1 it owns (low), lower than 97% of Technology companies in United States.
Does D-Wave Quantum Inc. pay a dividend?
No. D-Wave Quantum Inc. does not currently pay a dividend.
Is D-Wave Quantum Inc.'s revenue growing?
Revenue rose 179% in the year to Dec 2025, and grew 51% a year on average over 3 years.
Figures from the company's yearly results and PositoAI's own data. Full tables are on the Go Deep tab. What each figure means. PositoAI is for research and education only and is not investment advice.