D-Wave Quantum, Inc. (QBTS)
NYSEInformation TechnologyComputer HardwareSnapshot 2026-10-29
$11.56-1.78%
Close 2026-10-29 · 1-day change
NYSEInformation TechnologyComputer HardwareSnapshot 2026-10-29
Research Workspace
Put QBTS beside peers and holdings, graph the same metric, and keep your notes with the evidence.
Daily closes. Earnings/event dots are placed inline.
Industries move in repeating boom-and-bust cycles. This shows where this stock’s industry sits in that cycle, stage by stage (recovery → expansion → supercycle → steady → deceleration → contraction), from its fundamentals (orders, revenue, capital spending), not the stock’s price.
A booming industry is a tailwind for the names in it; a contracting one is a headwind. Companies in the same industry tend to rise and fall together with the cycle, the way a tide lifts and lowers every boat in the harbor at once, so a large part of a stock’s swing can come from where its industry sits rather than from the company itself. It’s context for reading the company’s results, not a buy/sell call. Full explanation →
Technology Hardware, Storage & Peripherals is in supercycle. Describes the industry's cycle state, not a call on this stock.
The stage band shows the industry’s cycle over the chart’s timeline (each color a stage); a ▼ marks a quarter its growth inflected down — amber is an unconfirmed watch, red is confirmed the next quarter. Use “Overlay cycle on chart” to tint the price chart by stage. The industry’s fundamentals, not a signal on this stock.
Primary pillar under pressure — Reduce net losses and improve EPS trajectory: Comparison needs review.
View ThesisRevenue is contracting — down about 44% over the past year.
View GrowthRanks in the weakest quality tier of its industry — roughly the bottom 16%, softest on free-cash-flow margins.
View QualityManagement screens weak on capital allocation, earnings delivery, margins.
View ManagementExpectations look reasonable — what the market is pricing in sits in line with or below what analysts forecast.
View ValuationThis stock is highly volatile — it swings about 3% on a typical day and fell roughly 69% in its worst 12-month stretch.
View RiskQBTS depends on government-funded quantum research and wider commercial adoption. Its commercial revenue must grow despite recent stagnation reports. Q2 FY2026 revenue growth is unavailable, and reported GAAP EPS missed consensus by 8.3%. QBTS trades at 345× sales versus the 3.2× peer median. The desk says expectations look modest against its growth view. Its next-quarter miss probability is 30%, and the thesis comparison needs review. Peer multiples imply a price about 109.5% below where it trades. This read is provisional.
Trailing returns as of 2026-10-29. QBTS is total return (includes dividends); the S&P 500 benchmark is price return (the index excludes dividends).
Based on 17 analysts currently covering QBTS (as of Oct 2026).
Based on 5 Wall Street analysts offering 12-month price targets for QBTS in the last 4 months.
Continue this research
Compare QBTS with peers and holdings, graph the same reported metric, keep your questions beside the evidence, and return when the facts change.
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| Compare | Company | Living FV | P/E | Revenue % | Quality |
|---|---|---|---|---|---|
| QBTS Selected company | Graph | Compare | Trend | Review | |
| Peer Add a competitor | Graph | Compare | Trend | Review | |
| Holding Compare a holding | Graph | Compare | Trend | Review |
Selected metric trend
Quarterly · checked companies · value or % of revenue
A consensus fair price across our valuation methods, at three horizons. As of 2026-10-29. Estimates are diagnostics, not price targets. Short-horizon estimates are close to coin-flips, so confidence is a method-agreement read, not a prediction.
No fair value published
Our valuation methods disagree too much on this name right now. Rather than print a number we don't believe, we're holding it back until they converge.
This applies to all three horizons. The trailing multiples, peer comparison, and quality and trajectory reads on this page are unaffected. Names move in and out of this state day to day as the methods converge or diverge. Method agreement on this name is low.
Bottom 25% on quality vs scored peers
A price-focused, side-by-side fair-value read versus Technology Hardware, Storage & Peripherals — fair value, gap to price, and forward P/E.
Our valuation methods disagree too much on this name right now. Rather than print a number we don't believe, we're holding it back until they converge.
Our valuation methods disagree too much on this name right now. Rather than print a number we don't believe, we're holding it back until they converge.
Compare the value case
Put QBTS next to peers and holdings, compare Living FV and multiples, then graph the driver behind the difference.
Advances: Expand strategic partnerships and commercial adoption
MOU with LG CNS supports strategic partnerships and Asian commercial adoption, though no binding revenue is disclosed.
Not investment advice. Scores describe historical and current data; they are not forecasts of future returns. Consult a licensed advisor before making investment decisions.
End-of-day figures as of 2026-10-29. EPS is implied from price ÷ P/E. Not investment advice.
Current $11.56
The last 12 months of price, then the range of analyst 12-month targets from today’s $11.56.
Analyst ratings and price targets are third-party Wall Street estimates, not QuarterlyIQ’s view. Not investment advice.
Direction of the business behind the multiple. Bands are backend reads; trailing-12-month basis.
TTM earnings are negative. P/E-based methods drop out and the estimate leans on sales- and cash-flow-based methods. A data condition, not a forward call.
Threatens: Expand strategic partnerships and commercial adoption
Competitors may gain an advantage in government funding.
Valuation concerns may hinder growth and investor confidence.
Threatens: Increase commercial revenue and bookings
Stagnant revenue impacts growth and commercial adoption objectives.
Advances: Secure and deploy government funding for R&D acceleration
Secures significant government funding for R&D acceleration.
Threatens: Secure and deploy government funding for R&D acceleration
Government funding uncertainty could hinder R&D acceleration.
Advances: Secure and deploy government funding for R&D acceleration
Government funding secures R&D acceleration for quantum computing.
CFO shift may enhance strategic and financial positioning.
