IonQ (IONQ)
Market Price (2/18/2026): $33.2 | Market Cap: $9.8 BilSector: Information Technology | Industry: Technology Hardware, Storage & Peripherals
IonQ (IONQ)
Market Price (2/18/2026): $33.2Market Cap: $9.8 BilSector: Information TechnologyIndustry: Technology Hardware, Storage & Peripherals
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
| Cash is significant % of market capNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -11% | Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -483 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -604% |
| Strong revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is 113% | Expensive valuation multiplesP/SPrice/Sales ratio is 122x |
| Valuation becoming less expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -58% | Significant share based compensationSBC/Rev LTMShare Based Compensation / Revenue (Sales), Last Twelve Months (LTM) is 306% |
| Megatrend and thematic driversMegatrends include Quantum Technologies. Themes include Quantum Computing Hardware, Quantum Software & Algorithms, and Quantum Computing as a Service. | Not cash flow generativeCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -311%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -332% |
| Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -19% | |
| High stock price volatilityVol 12M is 102% | |
| Significant short interestShort Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 27% | |
| Key risksIONQ key risks include [1] its uncertain path to profitability and potential overvaluation given a history of widening losses, Show more. |
| Cash is significant % of market capNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -11% |
| Strong revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is 113% |
| Valuation becoming less expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -58% |
| Megatrend and thematic driversMegatrends include Quantum Technologies. Themes include Quantum Computing Hardware, Quantum Software & Algorithms, and Quantum Computing as a Service. |
| Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -483 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -604% |
| Expensive valuation multiplesP/SPrice/Sales ratio is 122x |
| Significant share based compensationSBC/Rev LTMShare Based Compensation / Revenue (Sales), Last Twelve Months (LTM) is 306% |
| Not cash flow generativeCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -311%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -332% |
| Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -19% |
| High stock price volatilityVol 12M is 102% |
| Significant short interestShort Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 27% |
| Key risksIONQ key risks include [1] its uncertain path to profitability and potential overvaluation given a history of widening losses, Show more. |
Qualitative Assessment
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IonQ (IONQ) stock has lost about 45% since 10/31/2025 because of the following key factors:
1. Substantial GAAP Net Loss in Q3 2025.Despite reporting strong revenue growth for the third quarter of 2025, with $39.9 million recognized—37% above guidance and a 222% year-over-year increase—IonQ posted a significant GAAP net loss of $1.05 billion. This loss was primarily attributed to non-cash warrant liability adjustments. Although the company achieved technical milestones and raised full-year revenue guidance, the large net loss, alongside an Adjusted EBITDA loss of $48.9 million and high operating expenses, likely triggered investor concern regarding the company's long-term profitability and valuation.
2. Doubts Regarding Commercial Viability and High Operating Costs in Quantum Computing.The quantum computing industry remains in its nascent stages, with investors acknowledging that the technology is not yet broadly applicable in commercial settings. IonQ faces a challenging outlook characterized by substantial and potentially increasing research and development (R&D) and general and administrative (G&A) expenses that are expected to continue outpacing sales growth, leading to ongoing losses. The company is currently unprofitable and is not projected to generate a profit in 2026. This ongoing need for significant investment without immediate widespread commercial application likely contributed to a re-evaluation of the stock's future prospects.
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1. Substantial GAAP Net Loss in Q3 2025.Despite reporting strong revenue growth for the third quarter of 2025, with $39.9 million recognized—37% above guidance and a 222% year-over-year increase—IonQ posted a significant GAAP net loss of $1.05 billion. This loss was primarily attributed to non-cash warrant liability adjustments. Although the company achieved technical milestones and raised full-year revenue guidance, the large net loss, alongside an Adjusted EBITDA loss of $48.9 million and high operating expenses, likely triggered investor concern regarding the company's long-term profitability and valuation.
2. Doubts Regarding Commercial Viability and High Operating Costs in Quantum Computing.The quantum computing industry remains in its nascent stages, with investors acknowledging that the technology is not yet broadly applicable in commercial settings. IonQ faces a challenging outlook characterized by substantial and potentially increasing research and development (R&D) and general and administrative (G&A) expenses that are expected to continue outpacing sales growth, leading to ongoing losses. The company is currently unprofitable and is not projected to generate a profit in 2026. This ongoing need for significant investment without immediate widespread commercial application likely contributed to a re-evaluation of the stock's future prospects.
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Stock Movement Drivers
Fundamental Drivers
The -46.8% change in IONQ stock from 10/31/2025 to 2/17/2026 was primarily driven by a -59.1% change in the company's P/S Multiple.| (LTM values as of) | 10312025 | 2172026 | Change |
|---|---|---|---|
| Stock Price ($) | 62.38 | 33.18 | -46.8% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 52 | 80 | 52.4% |
| P/S Multiple | 298.9 | 122.4 | -59.1% |
| Shares Outstanding (Mil) | 251 | 295 | -14.8% |
| Cumulative Contribution | -46.8% |
Market Drivers
10/31/2025 to 2/17/2026| Return | Correlation | |
|---|---|---|
| IONQ | -46.8% | |
| Market (SPY) | 0.1% | 42.4% |
| Sector (XLK) | -7.2% | 48.2% |
Fundamental Drivers
The -16.8% change in IONQ stock from 7/31/2025 to 2/17/2026 was primarily driven by a -42.2% change in the company's P/S Multiple.| (LTM values as of) | 7312025 | 2172026 | Change |
|---|---|---|---|
| Stock Price ($) | 39.87 | 33.18 | -16.8% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 43 | 80 | 85.4% |
| P/S Multiple | 211.8 | 122.4 | -42.2% |
| Shares Outstanding (Mil) | 229 | 295 | -22.3% |
| Cumulative Contribution | -16.8% |
Market Drivers
7/31/2025 to 2/17/2026| Return | Correlation | |
|---|---|---|
| IONQ | -16.8% | |
| Market (SPY) | 8.3% | 39.4% |
| Sector (XLK) | 6.3% | 42.0% |
Fundamental Drivers
The -16.0% change in IONQ stock from 1/31/2025 to 2/17/2026 was primarily driven by a -45.8% change in the company's P/S Multiple.| (LTM values as of) | 1312025 | 2172026 | Change |
|---|---|---|---|
| Stock Price ($) | 39.49 | 33.18 | -16.0% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 37 | 80 | 113.1% |
| P/S Multiple | 225.9 | 122.4 | -45.8% |
| Shares Outstanding (Mil) | 214 | 295 | -27.2% |
| Cumulative Contribution | -16.0% |
Market Drivers
1/31/2025 to 2/17/2026| Return | Correlation | |
|---|---|---|
| IONQ | -16.0% | |
| Market (SPY) | 14.5% | 48.7% |
| Sector (XLK) | 21.4% | 51.3% |
Fundamental Drivers
The 647.3% change in IONQ stock from 1/31/2023 to 2/17/2026 was primarily driven by a 789.8% change in the company's Total Revenues ($ Mil).| (LTM values as of) | 1312023 | 2172026 | Change |
|---|---|---|---|
| Stock Price ($) | 4.44 | 33.18 | 647.3% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 9 | 80 | 789.8% |
| P/S Multiple | 98.1 | 122.4 | 24.7% |
| Shares Outstanding (Mil) | 198 | 295 | -32.7% |
| Cumulative Contribution | 647.3% |
Market Drivers
1/31/2023 to 2/17/2026| Return | Correlation | |
|---|---|---|
| IONQ | 647.3% | |
| Market (SPY) | 74.2% | 42.2% |
| Sector (XLK) | 109.4% | 41.4% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| IONQ Return | 55% | -79% | 259% | 237% | 7% | -24% | 216% |
| Peers Return | 27% | -40% | 15% | 478% | 71% | -8% | 693% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | -0% | 82% |
Monthly Win Rates [3] | |||||||
| IONQ Win Rate | 67% | 33% | 67% | 50% | 50% | 0% | |
| Peers Win Rate | 67% | 35% | 48% | 57% | 52% | 40% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 50% | |
Max Drawdowns [4] | |||||||
| IONQ Max Drawdown | -33% | -81% | 0% | -47% | -56% | -32% | |
| Peers Max Drawdown | -5% | -50% | -30% | -14% | -32% | -16% | |
| S&P 500 Max Drawdown | -1% | -25% | -1% | -2% | -15% | -1% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: HON, RGTI, IBM, GOOGL, QBTS.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 2/17/2026 (YTD)
How Low Can It Go
| Event | IONQ | S&P 500 |
|---|---|---|
| 2022 Inflation Shock | ||
| % Loss | -90.0% | -25.4% |
| % Gain to Breakeven | 900.0% | 34.1% |
| Time to Breakeven | 695 days | 464 days |
Compare to HON, RGTI, IBM, GOOGL, QBTS
In The Past
IonQ's stock fell -90.0% during the 2022 Inflation Shock from a high on 11/17/2021. A -90.0% loss requires a 900.0% gain to breakeven.
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About IonQ (IONQ)
IonQ, Inc. engages in the development of general-purpose quantum computing systems. It sells access to quantum computers with 20 qubits. The company makes access to its quantum computers through cloud platforms, such as Amazon Web Services' (AWS) Amazon Braket, Microsoft's Azure Quantum, and Google's Cloud Marketplace, as well as through its cloud service. IonQ, Inc. was founded in 2015 and is headquartered in College Park, Maryland.
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- Intel for quantum computers
- NVIDIA for quantum computing hardware
- AWS for quantum computing infrastructure
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- Quantum Computing as a Service (QCaaS): Provides cloud-based access to IonQ's trapped-ion quantum computers, allowing users to develop and execute quantum algorithms for various computational challenges.
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IonQ (symbol: IONQ) primarily sells its quantum computing hardware and services to other companies, government entities, and research institutions, rather than directly to individuals. Its business model often involves providing access to its quantum computers through major cloud platforms, as well as engaging in direct contracts for dedicated access, research, and application development.
Major customers and collaborators include:
- Cloud Computing Providers: These companies integrate IonQ's quantum computers into their platforms, acting as significant channels for IonQ's services and often as direct customers for hosting and partnership agreements.
- Amazon (Symbol: AMZN) - via Amazon Braket
- Microsoft (Symbol: MSFT) - via Azure Quantum
- Google (Symbol: GOOGL) - via Google Cloud
- Government and Defense Agencies: IonQ has secured significant contracts and partnerships with various government bodies for quantum computing research and development.
- U.S. Air Force Research Laboratory (AFRL)
- Defense Advanced Research Projects Agency (DARPA)
- U.S. Department of Energy (DOE)
- Enterprise and Research Customers: Various global companies and research institutions partner with IonQ to explore and develop quantum applications relevant to their industries.
- Hyundai Motor Company (Trades on Korea Exchange: 005380) - for battery research and development
- Airbus (Symbol: AIR on Euronext Paris) - for aerospace applications
- Goldman Sachs (Symbol: GS) - for exploring financial applications
- GE Research (part of General Electric, Symbol: GE) - for various industrial applications
- Pacific Northwest National Laboratory (PNNL) - for research collaboration
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```html Niccolo de Masi, Chairman & CEONiccolo de Masi has served as IonQ's CEO since February 2025 and was named Chairman of the Board in August 2025. He has extensive experience as a public company chief executive officer and board member with expertise in deep tech, mobile, and creating enterprise software-hardware ecosystems. De Masi has been a public company CEO three times and a private company CEO three times. He has served on the boards of 14 public companies, including Xura, Glu, Monstermob, Rush Street Interactive, Genius Sports Group, Resideo, and Planet. Over his career, he has been instrumental in approximately 50 mergers and acquisitions and has helped raise around $4 billion in equity for public and private companies. He also chaired Carlyle-backed Jagex and General Catalyst-backed Ares Interactive, indicating a pattern of managing companies backed by private equity firms.
Inder M. Singh, Chief Financial Officer & Chief Operating Officer
Inder M. Singh has served as IonQ's Chief Financial Officer and Chief Operating Officer since September 2025. Prior to this, he was a member of IonQ's board of directors since December 2021. From 2019 to 2022, Mr. Singh served as Executive Vice President and CFO of Arm Limited, where he led the global finance organization and oversaw the majority of its 2023 IPO. He previously held leadership roles, including Senior Vice President and CFO, at Unisys Corp., a publicly listed company, and was Vice President of Corporate Financial Strategy and M&A at Cisco. Mr. Singh also spent several years as a top-ranked equities analyst on Wall Street. He has advised startups as a member of Columbia University's Entrepreneurship Advisory Board.
Ariel Braunstein, Chief Product Officer
Ariel Braunstein is IonQ's Chief Product Officer. An experienced entrepreneur, he previously led Google's Augmented Reality initiatives and prominent video technologies at YouTube. Before joining Google, Mr. Braunstein co-founded Pure Digital Technologies, which created the Flip Video camcorder. Pure Digital Technologies was acquired by Cisco in 2009 for over $1 billion. He also founded Knowmia.com.
Dean Kassmann, SVP of Engineering & Technology
Dr. Dean Kassmann is the Senior Vice President of Engineering & Technology at IonQ. He joined IonQ in November 2021, and was promoted to SVP in June 2024. Prior to IonQ, Dr. Kassmann was Senior Director of Advanced Technology for Blue Origin, where he established and led the team responsible for company-wide applied research. At Amazon, he invented the autonomous system that manages order fulfillment flow across Amazon's supply chain, and at Blue Origin, he was part of the small team that developed the first series of New Shepard rockets.
Chris Ballance, President, Quantum Computing
Dr. Chris Ballance serves as President, Quantum Computing at IonQ. With over a decade of experience in the quantum computing industry, he has set multiple world records in quantum computing performance, including highest performance quantum logic gates and longest qubit memory coherence time. Before joining IonQ, Dr. Ballance co-founded and served as CEO of Oxford Ionics, scaling the company to over 100 employees globally. He holds a PhD in trapped-ion quantum computing from the University of Oxford. ```
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The public company IonQ (symbol: IONQ) faces several key business risks, primarily stemming from its position as an early-stage company in the nascent, yet rapidly evolving, quantum computing industry.
- Financial Instability and Path to Profitability: IonQ has a history of significant operating and net losses, with an accumulated deficit that continues to grow. The company's ability to generate sufficient revenue to achieve profitability is uncertain and heavily dependent on the successful development and commercialization of its quantum computing systems. Despite impressive revenue growth, losses are widening, and the company's high valuation relative to sales raises concerns about potential overvaluation.
- Intense Competition and Risk of Technological Obsolescence: The quantum computing market is highly competitive, with well-established and financially strong technology giants such as IBM, Google, Amazon, Microsoft, and Alphabet heavily investing in research and development. There is a significant risk that these competitors could outpace IonQ in technological advancements, market penetration, or that IonQ's current quantum computing technology could become obsolete if competitors achieve breakthroughs.
- Risks Associated with Acquisitions and Rapid Expansion: IonQ has been actively pursuing a strategy of acquiring smaller companies to build an end-to-end quantum ecosystem and accelerate its technology roadmap. This rapid acquisition strategy introduces risks such as difficulties in integrating the operations, technologies, services, and personnel of acquired companies. It can also divert management's attention from other critical business concerns and carries the risk of over-valuing acquired entities, potentially leading to financial inefficiencies.
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The rapid advancement and potential dominance of alternative quantum computing paradigms, such as neutral atom arrays (e.g., Pasqal) or photonic quantum computing (e.g., PsiQuantum), which could offer superior scalability, error correction, or cost-effectiveness compared to IonQ's trapped-ion technology, thereby challenging its market position and long-term viability.
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The addressable markets for IonQ's main products and services, primarily quantum computing and quantum networking, are projected to experience significant global growth in the coming years.
Quantum Computing Market
- The global quantum computing market size was valued at approximately USD 1.16 billion in 2024 and is projected to grow to USD 12.62 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 34.8% during the forecast period.
- Another estimate places the global quantum computing market size at USD 1.42 billion in 2024, with a projection to reach USD 4.24 billion by 2030, growing at a CAGR of 20.5% from 2025 to 2030.
- McKinsey & Company projects that the global quantum computing market could be worth between USD 28 billion and USD 72 billion by 2035. The broader quantum technology market, which includes quantum computing, quantum communication, and quantum sensing, could collectively generate up to USD 97 billion in revenue worldwide by 2035 and potentially reach USD 198 billion by 2040.
- Boston Consulting Group is more conservative, estimating the quantum computing market at up to USD 850 billion by 2040 globally.
- MarketsandMarkets estimated the global Quantum Computing Market size at USD 2.70 billion in 2024, predicted to increase to approximately USD 20.20 billion by 2030, expanding at a CAGR of 41.8% from 2025 to 2030.
Regional Quantum Computing Market Sizes:
- North America: The market size was USD 388.3 million in 2023 and is estimated to be USD 386.1 million in 2025. North America accounted for a significant market share of 31.01% in 2024.
- Europe: Expected to be the second-largest market, with a value of USD 500.9 million in 2025.
- Asia Pacific: Projected to witness the fastest growth in the quantum computing market.
Quantum Networking Market
- McKinsey projects that the quantum networking market is expected to become a USD 36 billion market by 2040 globally.
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IonQ (IONQ) is expected to drive future revenue growth over the next 2-3 years through several key areas:
- Advancements in Quantum Computer Performance (Algorithmic Qubits and Fault-Tolerant Systems): IonQ's accelerated technological roadmap focuses on increasing Algorithmic Qubits (AQ) and developing fault-tolerant quantum computers. The company achieved its 2025 technical milestone of AQ 64 ahead of schedule in Q3 2025. This progress, including plans for systems with approximately 20,000 physical qubits by 2028, is aimed at unlocking more complex and valuable commercial applications.
- Expansion of Commercial Contracts and Strategic Partnerships: IonQ has demonstrated significant growth in commercial contracts and partnerships, contributing to accelerated customer adoption. Recent highlights include a $54.5 million contract with the United States Air Force Research Lab and ongoing collaborations with companies like AstraZeneca and Ansys to develop quantum applications.
- Growth in Quantum Networking through Acquisitions and Product Launches: The company is strategically expanding its quantum networking capabilities, notably through acquisitions such as Qubitekk and a majority stake in ID Quantique. This expansion is leading to new contracts and the commercialization of quantum key distribution (QKD) products, further diversifying revenue streams.
- Global Market Expansion: IonQ is actively broadening its global footprint, increasing its commercial activities and forging new partnerships in key international markets. This includes expanded presence and new collaborations in regions such as Japan and South Korea, aiming to diversify its revenue sources beyond its strong U.S. base.
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Share Repurchases
IonQ has not reported any dollar amount of share repurchases made in the last 3-5 years.
Share Issuance
- IonQ had financing inflows of $1.36 billion from common stock and warrant issuance year-to-date as of September 30, 2025.
- In October 2025, IonQ raised $2 billion through a stock offering that included 16,500,000 shares of common stock, 5,005,400 pre-funded warrants, and 43,010,800 Series B warrants.
- In July 2025, the company completed a $1.0 billion equity offering, consisting of common stock and warrants, purchased by Heights Capital Management, Inc.
Inbound Investments
- Heights Capital Management, Inc. purchased $1.0 billion in IonQ's equity offering in July 2025. This was described as the largest common-stock single-institutional investment in the quantum industry.
Outbound Investments
- IonQ signed a definitive agreement to acquire Qubitekk in Q3 2024 to enhance its quantum networking capabilities.
- In Q2 2025, IonQ announced a proposed acquisition of Oxford Ionics for $1.075 billion to advance scalable quantum computing breakthroughs.
- The company completed the acquisitions of Lightsynq and Capella in Q2 2025, aiming to accelerate its quantum computing and quantum networking roadmaps.
Capital Expenditures
- Capital expenditures for the last 12 months were approximately -$11.22 million.
- Projected capital expenditures for 2025 are $84 million.
- The primary focus of capital expenditures includes investments in quantum computing systems, computer equipment, acquired computer software, machinery, equipment, furniture and fixtures, and satellites.
Latest Trefis Analyses
| Title | Date | |
|---|---|---|
| DASHBOARDS | ||
| IonQ Stock (-14%): Short-Seller Report Alleges Lost Contracts, Sparks Panic | 02/06/2026 | |
| Why IonQ Stock Jumped 60%? | 01/24/2026 | |
| IonQ Stock (+6.8%): QuantumBasel Deal Expansion Ignites Squeeze | 01/17/2026 | |
| IonQ Stock (-7.7%) : Roadmap Delay Spooks Retail Hands | 12/27/2025 | |
| IonQ Earnings Notes | 12/26/2025 | |
| How Low Can IonQ Stock Really Go? | 12/19/2025 | |
| IonQ Stock (-8.5%): Competition Fears + Insider Sales Trigger A Liquidity Grab | 12/16/2025 | |
| Now Is Not The Time To Buy IonQ Stock | 11/08/2025 | |
| ARTICLES | ||
| How IonQ Stock Gained 60% | 01/24/2026 | |
| Can IonQ Stock Recover If Markets Fall? | 12/19/2025 | |
| IonQ’s Steep Selloff: Why This Quantum Computing Stock Is Being Hammered? | 11/21/2025 | |
| IonQ Stock To $42? | 11/08/2025 | |
| With IonQ Stock Down 20% In A Month, How Confident Are You? | 11/04/2025 |
Trade Ideas
Select ideas related to IONQ.
| Date | Ticker | Company | Category | Trade Strategy | 6M Fwd Rtn | 12M Fwd Rtn | 12M Max DD |
|---|---|---|---|---|---|---|---|
| 01302026 | ROP | Roper Technologies | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | -13.4% | -13.4% | -13.8% |
| 01302026 | TDC | Teradata | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | 17.7% | 17.7% | -8.7% |
| 01302026 | CVLT | CommVault Systems | Dip Buy | DB | CFO/Rev | Low D/EDip Buy with High Cash Flow MarginsBuying dips for companies with significant cash flows from operations and reasonable debt / market cap | 2.3% | 2.3% | -5.1% |
| 01302026 | NTNX | Nutanix | Dip Buy | DB | CFO/Rev | Low D/EDip Buy with High Cash Flow MarginsBuying dips for companies with significant cash flows from operations and reasonable debt / market cap | 6.2% | 6.2% | -6.3% |
| 01302026 | FICO | Fair Isaac | Monopoly | MY | Getting CheaperMonopoly-Like with P/S DeclineLarge cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple | -8.1% | -8.1% | -9.2% |
Research & Analysis
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Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 137.91 |
| Mkt Cap | 82.0 |
| Rev LTM | 20,375 |
| Op Inc LTM | 3,806 |
| FCF LTM | 3,054 |
| FCF 3Y Avg | 2,577 |
| CFO LTM | 3,717 |
| CFO 3Y Avg | 3,141 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 11.3% |
| Rev Chg 3Y Avg | 9.2% |
| Rev Chg Q | 13.6% |
| QoQ Delta Rev Chg LTM | 3.3% |
| Op Mgn LTM | -168.8% |
| Op Mgn 3Y Avg | -292.9% |
| QoQ Delta Op Mgn LTM | -0.5% |
| CFO/Rev LTM | -97.6% |
| CFO/Rev 3Y Avg | -141.5% |
| FCF/Rev LTM | -106.5% |
| FCF/Rev 3Y Avg | -169.0% |
Valuation
| Median | |
|---|---|
| Name | |
| Mkt Cap | 82.0 |
| P/S | 65.7 |
| P/EBIT | 1.5 |
| P/E | 9.2 |
| P/CFO | -10.7 |
| Total Yield | -1.2% |
| Dividend Yield | 0.1% |
| FCF Yield 3Y Avg | 0.4% |
| D/E | 0.0 |
| Net D/E | -0.1 |
Returns
| Median | |
|---|---|
| Name | |
| 1M Rtn | -24.8% |
| 3M Rtn | -15.0% |
| 6M Rtn | 13.9% |
| 12M Rtn | 30.9% |
| 3Y Rtn | 401.2% |
| 1M Excs Rtn | -20.1% |
| 3M Excs Rtn | -19.5% |
| 6M Excs Rtn | 2.6% |
| 12M Excs Rtn | 15.8% |
| 3Y Excs Rtn | 346.2% |
Price Behavior
Price Behavior
| Market Price | $33.18 | |
| Market Cap ($ Bil) | 9.8 | |
| First Trading Date | 01/04/2021 | |
| Distance from 52W High | -59.6% | |
| 50 Days | 200 Days | |
| DMA Price | $45.66 | $47.31 |
| DMA Trend | up | down |
| Distance from DMA | -27.3% | -29.9% |
| 3M | 1YR | |
| Volatility | 95.5% | 101.7% |
| Downside Capture | 581.40 | 318.76 |
| Upside Capture | 256.05 | 270.06 |
| Correlation (SPY) | 47.6% | 49.2% |
IONQ Betas & Captures as of 1/31/2026
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 0.04 | 1.36 | 2.41 | 2.67 | 2.45 | 2.79 |
| Up Beta | -1.83 | -2.55 | 1.09 | 2.37 | 2.41 | 2.52 |
| Down Beta | 0.05 | 0.99 | 3.50 | 4.38 | 2.25 | 2.84 |
| Up Capture | -78% | 124% | 70% | 201% | 575% | 24053% |
| Bmk +ve Days | 11 | 22 | 34 | 71 | 142 | 430 |
| Stock +ve Days | 10 | 20 | 30 | 63 | 120 | 370 |
| Down Capture | 196% | 323% | 299% | 192% | 159% | 113% |
| Bmk -ve Days | 9 | 19 | 27 | 54 | 109 | 321 |
| Stock -ve Days | 10 | 21 | 31 | 61 | 129 | 375 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with IONQ | |
|---|---|---|---|---|
| IONQ | -15.1% | 102.0% | 0.29 | - |
| Sector ETF (XLK) | 17.3% | 27.5% | 0.56 | 51.9% |
| Equity (SPY) | 13.0% | 19.4% | 0.51 | 49.3% |
| Gold (GLD) | 67.2% | 25.5% | 1.99 | 6.4% |
| Commodities (DBC) | 5.2% | 16.8% | 0.13 | 22.6% |
| Real Estate (VNQ) | 7.8% | 16.6% | 0.28 | 22.9% |
| Bitcoin (BTCUSD) | -28.8% | 44.9% | -0.62 | 43.7% |
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Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with IONQ | |
|---|---|---|---|---|
| IONQ | 22.4% | 98.2% | 0.65 | - |
| Sector ETF (XLK) | 16.2% | 24.8% | 0.59 | 45.8% |
| Equity (SPY) | 13.3% | 17.0% | 0.62 | 45.0% |
| Gold (GLD) | 21.3% | 17.1% | 1.02 | 8.3% |
| Commodities (DBC) | 10.2% | 18.9% | 0.42 | 11.6% |
| Real Estate (VNQ) | 5.3% | 18.8% | 0.19 | 28.5% |
| Bitcoin (BTCUSD) | 8.2% | 57.2% | 0.36 | 26.9% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with IONQ | |
|---|---|---|---|---|
| IONQ | 11.8% | 97.3% | 0.67 | - |
| Sector ETF (XLK) | 23.1% | 24.2% | 0.87 | 45.6% |
| Equity (SPY) | 15.8% | 17.9% | 0.76 | 44.8% |
| Gold (GLD) | 14.8% | 15.6% | 0.79 | 8.3% |
| Commodities (DBC) | 8.0% | 17.6% | 0.37 | 11.6% |
| Real Estate (VNQ) | 6.8% | 20.7% | 0.29 | 28.4% |
| Bitcoin (BTCUSD) | 68.5% | 66.7% | 1.08 | 26.0% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Returns Analyses
Earnings Returns History
Expand for More| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 1/26/2026 | -8.2% | -15.4% | |
| 8/6/2025 | -1.8% | -0.0% | 1.4% |
| 5/7/2025 | 9.3% | 14.7% | 33.9% |
| 2/26/2025 | -16.8% | -24.4% | -21.0% |
| 11/6/2024 | 34.4% | 62.7% | 130.8% |
| 8/7/2024 | 4.6% | 7.5% | 0.0% |
| 5/8/2024 | 4.8% | 2.5% | -10.5% |
| 2/28/2024 | -8.0% | -11.9% | -11.3% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 7 | 8 | 7 |
| # Negative | 8 | 7 | 7 |
| Median Positive | 10.7% | 10.7% | 22.3% |
| Median Negative | -5.7% | -11.9% | -11.3% |
| Max Positive | 34.4% | 62.7% | 130.8% |
| Max Negative | -16.8% | -24.4% | -37.6% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 09/30/2025 | 11/05/2025 | 10-Q |
| 06/30/2025 | 08/06/2025 | 10-Q |
| 03/31/2025 | 05/07/2025 | 10-Q |
| 12/31/2024 | 02/26/2025 | 10-K |
| 09/30/2024 | 11/06/2024 | 10-Q |
| 06/30/2024 | 08/07/2024 | 10-Q |
| 03/31/2024 | 05/10/2024 | 10-Q |
| 12/31/2023 | 02/28/2024 | 10-K |
| 09/30/2023 | 11/09/2023 | 10-Q |
| 06/30/2023 | 08/10/2023 | 10-Q |
| 03/31/2023 | 05/11/2023 | 10-Q |
| 12/31/2022 | 03/30/2023 | 10-K |
| 09/30/2022 | 11/14/2022 | 10-Q |
| 06/30/2022 | 08/15/2022 | 10-Q |
| 03/31/2022 | 05/16/2022 | 10-Q |
| 12/31/2021 | 03/28/2022 | 10-K |
Insider Activity
Expand for More| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Chou, Kathryn K | Direct | Sell | 12232025 | 55.00 | 5,000 | 275,000 | 3,346,145 | Form | |
| 2 | Chou, Kathryn K | Direct | Sell | 12122025 | 51.40 | 20,000 | 1,027,980 | 3,127,064 | Form | |
| 3 | Alameddine, Rima | Chief Revenue Officer | Direct | Sell | 11212025 | 46.89 | 100,000 | 4,689,060 | 20,285,624 | Form |
| 4 | Teuber, William J Jr | Direct | Buy | 11132025 | 54.81 | 2,000 | 109,630 | 351,529 | Form | |
| 5 | Cardillo, Robert T | Direct | Sell | 9162025 | 50.52 | 8,773 | 443,192 | 1,891,181 | Form |
Industry Resources
| Technology Hardware, Storage & Peripherals Resources |
| The Verge |
| TechRadar |
| Tom’s Hardware |
| PCMag |
| CNET |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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