QNC vs QBTS vs QUBT Stock Comparison

Quantum eMotion, D-Wave Quantum and Quantum Computing Prices as of Nov 2, 2026 Peers: Industry group
1 more company in this comparison (UIS) Create a free account to keep reading and compare up to 10 companies.
QBTS D-Wave Quantum Inc.
$10.09 -36.0% 1M -72.8% 1Y
Market cap
$3.75B
P/E
–
Revenue (TTM)
$12.43M
Div. yield
–
Quantum Computing Technology
1 win
QUBT Quantum Computing Inc.
$6.33 -22.6% 1M -62.1% 1Y
Market cap
$1.43B
P/E
–
Revenue (TTM)
$9.82M
Div. yield
–
Quantum Computing Technology
6 wins

Head to Head

7 decided of 12

Quantum Computing leads on 6 of the 12 questions below (Quantum Computing 6, D-Wave Quantum 1). Which ones matter depends on what you are buying for; a cheap multiple and slow growth often come together.

QuestionQNCQBTSQUBTLeader
Larger companyMarket capitalisation $214.22M $3.75B $1.43B QBTS
Cheaper on earningsLower P/E, profitable companies only -40.0x -15.0x -95.0x –
Cheaper on forward earningsLower price / next fiscal year consensus EPS — — — –
Faster revenue growthRevenue growth, trailing twelve months — -44.2% +3,635.4% QUBT
More profitableNet margin, trailing twelve months — -2,001.6% -152.5% QUBT
Better return on capitalReturn on invested capital — -12.3% — –
Less leveragedLower net debt / EBITDA — 3.2x — –
Higher dividend yieldTrailing dividend yield — — — –
Better 1-year returnPrice return, last 12 months — -72.8% -62.1% QUBT
Better 5-year returnAnnualised price return, 5 years — +0.5%/yr +0.8%/yr QUBT
Less volatileAnnualised volatility, 1 year 93.7% 100.0% 88.0% QUBT
Higher overall scoreMean of the five percentile scores vs peers — 32/100 33/100 QUBT

Percentile Scorecard

QNCQBTSQUBT

Each axis is the mean percentile of its metrics against the company's industry group. 100 is the best in the group, 50 the middle.

Scores by Axis

AxisQNCQBTSQUBT
Valuation 8 #114 of 124 19 #101 of 124 24 #94 of 124
Growth – 12 #100 of 113 29 #81 of 113
Profitability – 16 #93 of 110 17 #91 of 110
Financial Health 95 #8 of 129 92 #11 of 129 93 #10 of 129
Shareholder Returns – 23 #52 of 67 0 #67 of 67
Overall – 32 33
  • QNC ranked among 137 companies in Infrastructure Software
  • QBTS ranked among 137 companies in Infrastructure Software
  • QUBT ranked among 137 companies in Infrastructure Software

Price Performance

Price return, split-adjusted, before dividends. Click a name to hide or show it.

Returns

PeriodQNCQBTSQUBTSPY
1 month -39.5%-36.0%-22.6% -2.3%
3 months -53.3%-49.5%-27.6% -0.7%
6 months -65.4%-51.8%-33.4% +4.8%
Year to date —-61.4%-38.3% +10.3%
1 year —-72.8%-62.1% +10.3%
3 years —+1,046.6%+662.7% +73.0%
3 years, per year —+125.6%+96.9% +20.1%
5 years —+2.7%+4.3% +61.9%
5 years, per year —+0.5%+0.8% +10.1%
10 years ——+3,065.0% +258.6%
10 years, per year ——+41.3% +13.6%

Risk

MeasureQNCQBTSQUBTSPY
Volatility, 1Y 93.7%100.0%88.0% 12.8%
Downside volatility, 1Y 95.9%92.6%84.8% 12.8%
Beta vs S&P 500, 1Y 2.984.243.66 1.00
Return / volatility, 1Y —-0.73-0.71 0.80
Max drawdown, 5Y -74.1%-96.7%-94.4% -25.4%
From 52-week high -74.1%-69.5%-58.8% -3.5%
52-week high $3.79$33.09$15.38 $779.14
52-week low $0.98$10.09$6.31 $631.97

Valuation History

Weekly multiples on trailing twelve-month fundamentals. Negative or extreme readings (a loss year, a collapsed denominator) are left out so the chart stays readable.

MultipleQNCQBTSQUBT
P/E now vs peer median -40.0xmedian 35.6x -15.0xmedian 35.6x -95.0xmedian 35.6x
P/S now vs peer median 200,351xmedian 4.2x 302.1xmedian 4.2x 145.8xmedian 4.2x
EV/EBITDA now vs peer median —median 30.0x -20.1xmedian 30.0x -7.0xmedian 30.0x
P/FCF now vs peer median 12,202xmedian 25.2x -31.5xmedian 25.2x -27.8xmedian 25.2x
P/B now vs peer median 8.0xmedian 3.2x 3.5xmedian 3.2x 0.9xmedian 3.2x
PEG now vs peer median —median 1.21 10.11median 1.21 -2.36median 1.21

Financial History

Reported figures by fiscal period, placed on the calendar year (or quarter) each period ended in, so companies with different fiscal years line up.

Trailing twelve monthsQNCQBTSQUBT
Revenue – $12.43M $9.82M
Gross profit – $7.98M -$1.86M
Operating income – -$170.58M -$76.18M
Net income -$9.47M -$248.70M -$14.98M
Free cash flow – -$119.08M -$51.48M
R&D $1.04M $81.78M $26.91M
EPS (diluted) $-0.02 $-0.67 $-0.07
Cash & equivalents $222.23K $296.64M $189.15M
Total debt – $35.03M –
Shares (diluted) 186.70M 370.84M 224.73M
Enterprise value $127.29M $898.27M -$2.18B

All Metrics

58 metrics · best in bold

Bold marks the best reading: the lowest positive value for multiples, leverage and payout, the highest for everything else. The bar under each value is its percentile against that company's own peers. Hover a value for its rank and the peer median.

Valuation

12 metrics
MetricQNCQBTSQUBT
P/E -40.0x -15.0x -95.0x
P/FCF 12,202x -31.5x -27.8x
P/Operating cash flow – -33.9x -33.3x
P/S 200,351x 302.1x 145.8x
P/B 8.0x 3.5x 0.9x
P/Tangible book 10.8x 4.3x 0.9x
EV/EBITDA – -20.1x -7.0x
EV/EBIT – -19.0x -6.3x
EV/Revenue – 261.0x 48.7x
EV/FCF – -27.2x -9.3x
EV/Operating cash flow – -29.2x -11.1x
PEG (3Y EPS CAGR) – 10.11 -2.36

Growth

14 metrics
MetricQNCQBTSQUBT
Revenue growth (1Y) – -44.2% 3,635%
Revenue CAGR (3Y) – 19.0% 230.4%
Gross profit growth (1Y) – -56.6% -2,367%
Gross profit CAGR (3Y) – 31.6% -158.9%
Operating income growth (1Y) – -116.9% -132.2%
Operating income CAGR (3Y) – -27.8% -36.2%
Net income growth (1Y) – 11.7% 80.4%
Net income CAGR (3Y) – -45.9% 18.1%
EPS growth (1Y) – 28.0% 87.7%
EPS CAGR (3Y) – -1.5% 40.2%
Operating cash flow growth (1Y) – -119.0% -128.0%
Operating cash flow CAGR (3Y) – -28.1% -41.0%
Free cash flow growth (1Y) – -124.4% -105.7%
Free cash flow CAGR (3Y) – -30.9% -45.3%

Profitability

14 metrics
MetricQNCQBTSQUBT
Gross margin – 64.2% -18.9%
EBITDA margin – -1,297% -697.4%
Operating margin – -1,373% -775.5%
Pretax margin – -1,267% -152.5%
Net margin – -2,002% -152.5%
FCF margin – -958.4% -524.0%
Operating cash flow margin – -892.4% -438.3%
Return on equity – -11.7% -0.9%
Return on assets – -10.9% -0.9%
Return on invested capital – -12.3% –
Return on capital employed – -14.8% -4.7%
Asset turnover – 0.0x 0.0x
Cash conversion (OCF / net income) – 0.4x 2.9x
Stock comp / revenue – 250.5% 86.5%

Financial Health

11 metrics
MetricQNCQBTSQUBT
Debt / assets – 3.0% –
Debt / equity – 0.0x –
Net debt / EBITDA – 3.2x –
Debt / FCF – -0.3x –
Liabilities / assets 21.0% 6.5% 2.9%
Equity / assets 79.0% 93.5% 97.1%
Interest coverage – -180.3x -577.1x
Current ratio 33.3x 20.5x 53.1x
Quick ratio 35.0x 20.1x 51.7x
Cash ratio 35.0x 20.0x 51.3x
Altman Z-score – 28.71 18.59

Shareholder Returns

7 metrics
MetricQNCQBTSQUBT
Dividend yield – – –
Net buyback yield – -1.6% -83.7%
Shareholder yield – -1.6% -83.7%
Payout ratio (earnings) – – –
Payout ratio (FCF) – – –
Dividend growth (1Y) – – –
Dividend CAGR (3Y) – – –

Analyst Estimates

Solid lines are reported fiscal-year results; dashed lines are the consensus for the years ahead. Hover a year for the analysts' high and low, and how each result compared with its estimate.

ConsensusQNCQBTSQUBT
EPS, next fiscal year – $-0.31FY2026 $-0.15FY2026
Revenue, next fiscal year – $40.06MFY2026 $29.28MFY2026
Revenue growth, next FY – +62.9%FY2026 +4,193.8%FY2026
Revenue growth, the year after – +112.2% +84.3%

Institutional Ownership

13F filings, quarter ended Jun 30, 2026
HoldersQNCQBTSQUBT
Held by institutions 31.6% 53.1% 45.4%
Institutions holding 38 551 315
Change in shares held, QoQ +1,128.1% +12.5% +10.7%
Institutions buying 22 370 196
Institutions selling 7 101 62
Buyers to sellers 3.14 3.66 3.16

Return Correlation

Daily returns, last 12 months

1.00 means two stocks move in lockstep, 0 that they move independently. Pairs below about 0.5 diversify each other.

QNCQBTSQUBT
QNC 1.00 0.43 0.37
QBTS 0.43 1.00 0.86
QUBT 0.37 0.86 1.00

Add a Peer

Largest companies in the same industry

Related Comparisons

Frequently Asked Questions

Which is bigger, QNC, QBTS and QUBT?

D-Wave Quantum (QBTS) is the largest by market capitalisation: Quantum eMotion (QNC) $214.22M, D-Wave Quantum (QBTS) $3.75B, Quantum Computing (QUBT) $1.43B.

Which company is growing faster?

Quantum Computing (QUBT) grew revenue fastest over the trailing twelve months: D-Wave Quantum (QBTS) -44.2%, Quantum Computing (QUBT) +3,635.4%.

Which company is more profitable?

Quantum Computing (QUBT) has the highest net margin (D-Wave Quantum (QBTS) -2,001.6%, Quantum Computing (QUBT) -152.5%).

Which stock has performed better?

Over the past year Quantum Computing (QUBT) returned the most: D-Wave Quantum (QBTS) -72.8%, Quantum Computing (QUBT) -62.1%. Over five years, Quantum Computing (QUBT) compounded fastest (D-Wave Quantum (QBTS) +0.5%/yr, Quantum Computing (QUBT) +0.8%/yr). Returns are price only, before dividends.

Which stock is riskier?

By one-year price volatility, Quantum Computing (QUBT) has been the steadiest (Quantum eMotion (QNC) 93.7%, D-Wave Quantum (QBTS) 100.0%, Quantum Computing (QUBT) 88.0%). Volatility measures how widely the price swings, not the risk of the business.

Which is the better stock, QNC, QBTS and QUBT?

There is no single answer; it depends on what you are buying for. On the 12 head-to-head measures on this page, Quantum Computing (QUBT) leads on 6. Business Quant does not give investment advice; use the comparison as a starting point for your own research.

Data from SEC filings, exchange prices and consensus estimates, via Business Quant. Percentile scores compare each company with its own peer group, so two companies' scores are each relative to different peers unless you rank against the whole market. Price returns exclude dividends. Nothing on this page is investment advice.