IonQ, Inc.(IONQ) - Stock detail

IonQ, Inc.

US
IONQ
IonQ, Inc.(Listing date: 01/04/2021)

IonQ, Inc. is a company incorporated as a Delaware corporation on September 14, 2020. The company is developing quantum computers and networks aimed at solving some of the world's most complex problems and making business, society, and the planet better. The company believes that its proprietary technology, architecture, and the technology it has exclusively obtained through license agreements will provide advantages in research and development, as well as the commercial value of its expected product offerings. Today, the company sells specialized quantum computing and networking hardware, along with related maintenance and support. It also sells access to quantum computers with several different qubit capacities and is researching and developing technologies for quantum computers with increasing computing power.

AI Value AnalystHold
Overall Rating5/10
Generated at:2026-06-11 17:41:33
Analysis based on 5 financial reports covering periods: 2026-03-31, 2025-12-31, 2025-09-30, 2025-06-30, and 2025-03-31. Stock price data as of 2026-06-11 close. Data includes comprehensive financial statements, valuation metrics, and profitability indicators. Analysis considers both quarterly and trailing twelve-month (TTM) metrics where applicable. Note that Q1 2026 results include significant one-time accounting gains that distort profitability metrics.
Overview

IonQ, Inc. is a developer of quantum computers and networks operating in the Computer Hardware sector. The company is in a high-investment, growth-before-profits stage with explosive revenue growth but lacks consistent operational profitability. Financially robust with strong liquidity, but valuation is extreme based on traditional metrics, reflecting market pricing of future potential rather than current earnings.

Valuation
2/10
Profitability
5/10
Financial health
8/10
Operation Advice
  • Hold for risk-tolerant existing investors to maintain exposure to quantum computing potential.
  • New investors should exercise extreme caution due to severe valuation risks and high volatility.
  • Consider entry points at lower price levels within the speculative target range of $45-$75.
  • Monitor for clearer signs of sustainable profitability and rationalization of valuation multiples as sales scale.

Valuation

P/E TTM
-10.45
P/E LYR
-46.19
P/B MRQ
6.19
P/S TTM
--
AI Analysis
  • Valuation metrics are extreme with PS-TTM of 115.68 and PB of 6.19, indicating significant overvaluation by traditional standards. However, for this pioneering quantum computing company with >750% revenue growth, traditional metrics are poor indicators as valuation is driven by long-term growth expectations and technological optionality.
  • Price-to-Sales (PS-TTM) is 115.68, an extremely high multiple indicating the stock is valued at over 115 times its trailing twelve-month sales
  • Price-to-Book (PB) is 6.19, trading at 6.19 times book value suggesting the market places high value on intangible assets not fully captured on the balance sheet
  • Both dynamic PE (-46.19) and PE-TTM (-10.45) are negative due to negative earnings, making these metrics not applicable for valuation
  • Current stock price is $57.99 as of 2026-06-11 close
  • Stock has been highly volatile, trading between $25.89 (2026-03-30) and $73.65 (2026-06-03) over 60 days
  • Based purely on conventional metrics (PS, PB), IonQ's stock is significantly overvalued
  • For a pioneering quantum computing company with >750% revenue growth, traditional metrics are poor indicators of value
  • Valuation is entirely driven by long-term growth expectations and technological optionality
  • A fundamental-based target price range is challenging to derive from earnings, but a revenue-based approach suggests a speculative 12-month target range of $45 - $75
Valuation trend

Profitability

ROE TTM
-0.43%
Net margin
1244.22%
Gross margin
23.84%
Total revenue
64.67M
AI Analysis
  • IonQ demonstrates phenomenal top-line growth with 754.72% year-over-year revenue increase in Q1 2026, but bottom-line profitability is not established. The company remains in a high-investment, growth-before-profits stage with profitability metrics distorted by one-time accounting gains rather than core operations.
  • Q1 2026 revenue of $64.67M represents a year-over-year increase of 754.72%, indicating explosive growth
  • TTM revenue growth is also very strong, showing successful commercial traction and scaling of business model
  • Company is not yet consistently profitable on a net income basis
  • Q1 2026 shows a massive net profit of $805.36M, but this is an outlier driven by significant one-time accounting gain
  • Preceding quarters (Q4, Q3, Q2 2025) show substantial net losses
  • Diluted EPS for Q1 2026 was $2.07, contrasting sharply with negative EPS in prior periods
  • Gross margin for Q1 2026 was 23.84%, a decline from higher 40-55% margins seen in 2025
  • Net margin of 1244% in Q1 2026 is not meaningful due to the one-time gain
  • ROE and ROA for Q1 2026 were 18.35% and 12.14% respectively, skewed by one-time profit
  • TTM figures (ROE: -0.43%, ROA: 2.47%) provide a more blended view of returns over the past year
Profitability
2025Q12025Q22025Q32025Q42026Q1
ROE TTM---27.06%-95.14%-24.40%-0.43%
Earnings
2025Q12025Q22025Q32025Q42026Q1
Total revenue7.57M28.26M68.13M130.02M64.67M

Financial health

Debt/Asset
25.46%
Current ratio
14.05
Quick ratio
--
Cash ratio
14.05
AI Analysis
  • IonQ's financial health shows significant strength in liquidity with a current ratio of 14.05 and moderate leverage with a debt-to-asset ratio of 25.46%. The company appears to be in a robust position with high liquidity and manageable debt, providing a solid foundation to fund ongoing research, development, and growth initiatives.
  • Current ratio of 14.05 is exceptionally high, indicating more than sufficient short-term assets to cover short-term liabilities
  • Very comfortable liquidity position, likely supported by recent capital raises
  • Debt-to-asset ratio is 25.46%, indicating relatively conservative use of debt financing
  • Balance sheet is not over-leveraged
  • Financially, IonQ appears to be in a robust position with high liquidity and manageable debt
  • Provides solid foundation to fund ongoing research, development, and growth initiatives
  • Financial position is typical for a pre-profitability, capital-intensive technology company
Leverage
2025Q12025Q22025Q32025Q42026Q1
Debt/Asset10.00%12.49%47.03%41.96%25.46%
Liquidity
2025Q12025Q22025Q32025Q42026Q1
Current ratio13.177.768.7315.5014.05