RGTI vs QBTS vs ARQQ Stock Comparison

Rigetti Computing, D-Wave Quantum and Arqit Quantum Prices as of Nov 2, 2026 Peers: Industry group
RGTI Rigetti Computing, Inc.
$10.67 -30.0% 1M -75.9% 1Y
Market cap
$3.56B
P/E
–
Revenue (TTM)
$13.35M
Div. yield
–
Quantum Computing Technology
4 wins
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
2 wins
ARQQ Arqit Quantum Inc.
$14.25 -42.1% 1M -67.3% 1Y
Market cap
$217.91M
P/E
–
Revenue (TTM)
—
Div. yield
–
Quantum Computing Technology
1 win

Head to Head

7 decided of 12

Rigetti Computing leads on 4 of the 12 questions below (Rigetti Computing 4, D-Wave Quantum 2, Arqit Quantum 1). Which ones matter depends on what you are buying for; a cheap multiple and slow growth often come together.

QuestionRGTIQBTSARQQLeader
Larger companyMarket capitalisation $3.56B $3.75B $217.91M QBTS
Cheaper on earningsLower P/E, profitable companies only -14.9x -15.0x — –
Cheaper on forward earningsLower price / next fiscal year consensus EPS — — — –
Faster revenue growthRevenue growth, trailing twelve months +68.5% -44.2% — RGTI
More profitableNet margin, trailing twelve months -1,787.4% -2,001.6% — RGTI
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 -75.9% -72.8% -67.3% ARQQ
Better 5-year returnAnnualised price return, 5 years +0.6%/yr +0.5%/yr -52.1%/yr RGTI
Less volatileAnnualised volatility, 1 year 92.9% 100.0% 111.6% RGTI
Higher overall scoreMean of the five percentile scores vs peers 32/100 32/100 — QBTS

Percentile Scorecard

RGTIQBTSARQQ

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

AxisRGTIQBTSARQQ
Valuation 15 #106 of 124 19 #101 of 124 –
Growth 21 #90 of 113 12 #100 of 113 –
Profitability 9 #100 of 110 16 #93 of 110 –
Financial Health 89 #15 of 129 92 #11 of 129 84 #21 of 129
Shareholder Returns 26 #50 of 67 23 #52 of 67 –
Overall 32 32 –
  • RGTI ranked among 137 companies in Infrastructure Software
  • QBTS ranked among 137 companies in Infrastructure Software
  • ARQQ ranked among 137 companies in Infrastructure Software

Price Performance

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

Returns

PeriodRGTIQBTSARQQSPY
1 month -30.0%-36.0%-42.1% -2.3%
3 months -33.4%-49.5%-22.8% -0.7%
6 months -39.7%-51.8%-1.2% +4.8%
Year to date -51.8%-61.4%-34.9% +10.3%
1 year -75.9%-72.8%-67.3% +10.3%
3 years +812.0%+1,046.6%+29.5% +73.0%
3 years, per year +109.0%+125.6%+9.0% +20.1%
5 years +2.8%+2.7%-97.5% +61.9%
5 years, per year +0.6%+0.5%-52.1% +10.1%

Risk

MeasureRGTIQBTSARQQSPY
Volatility, 1Y 92.9%100.0%111.6% 12.8%
Downside volatility, 1Y 88.5%92.6%103.4% 12.8%
Beta vs S&P 500, 1Y 4.004.244.16 1.00
Return / volatility, 1Y -0.82-0.73-0.60 0.80
Max drawdown, 5Y -96.9%-96.7%-99.6% -25.4%
From 52-week high -72.7%-69.5%-65.0% -3.5%
52-week high $39.12$33.09$40.73 $779.14
52-week low $10.67$10.09$11.78 $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.

MultipleRGTIQBTSARQQ
P/E now vs peer median -14.9xmedian 35.6x -15.0xmedian 35.6x —median 35.6x
P/S now vs peer median 266.6xmedian 4.2x 302.1xmedian 4.2x —median 4.2x
EV/EBITDA now vs peer median -36.3xmedian 30.0x -20.1xmedian 30.0x —median 30.0x
P/FCF now vs peer median -40.7xmedian 25.2x -31.5xmedian 25.2x —median 25.2x
P/B now vs peer median 6.6xmedian 3.2x 3.5xmedian 3.2x 7.6xmedian 3.2x
PEG now vs peer median 3.77median 1.21 10.11median 1.21 —median 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 monthsRGTIQBTSARQQ
Revenue $13.35M $12.43M –
Gross profit $4.62M $7.98M –
Operating income -$97.16M -$170.58M –
Net income -$238.67M -$248.70M –
Free cash flow -$87.58M -$119.08M –
R&D $73.05M $81.78M –
EPS (diluted) $-0.72 $-0.67 –
Cash & equivalents $27.76M $296.64M $28.86M
Total debt – $35.03M –
Shares (diluted) 333.22M 370.84M 13.79M
Enterprise value $1.86B $898.27M $108.58M

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
MetricRGTIQBTSARQQ
P/E -14.9x -15.0x –
P/FCF -40.7x -31.5x –
P/Operating cash flow -58.6x -33.9x –
P/S 266.6x 302.1x –
P/B 6.6x 3.5x 7.6x
P/Tangible book 6.6x 4.3x 8.2x
EV/EBITDA -36.3x -20.1x –
EV/EBIT -32.6x -19.0x –
EV/Revenue 237.1x 261.0x –
EV/FCF -36.2x -27.2x –
EV/Operating cash flow -52.2x -29.2x –
PEG (3Y EPS CAGR) 3.77 10.11 –

Growth

14 metrics
MetricRGTIQBTSARQQ
Revenue growth (1Y) 68.5% -44.2% –
Revenue CAGR (3Y) -2.5% 19.0% –
Gross profit growth (1Y) 43.8% -56.6% –
Gross profit CAGR (3Y) -26.6% 31.6% –
Operating income growth (1Y) -25.6% -116.9% –
Operating income CAGR (3Y) -0.3% -27.8% –
Net income growth (1Y) -44.8% 11.7% –
Net income CAGR (3Y) -42.8% -45.9% –
EPS growth (1Y) -29.6% 28.0% –
EPS CAGR (3Y) -4.0% -1.5% –
Operating cash flow growth (1Y) -12.9% -119.0% –
Operating cash flow CAGR (3Y) 0.3% -28.1% –
Free cash flow growth (1Y) -33.6% -124.4% –
Free cash flow CAGR (3Y) -3.5% -30.9% –

Profitability

14 metrics
MetricRGTIQBTSARQQ
Gross margin 34.6% 64.2% –
EBITDA margin -653.3% -1,297% –
Operating margin -727.6% -1,373% –
Pretax margin -1,787% -1,267% –
Net margin -1,787% -2,002% –
FCF margin -655.9% -958.4% –
Operating cash flow margin -454.7% -892.4% –
Return on equity -42.6% -11.7% –
Return on assets -36.7% -10.9% –
Return on invested capital – -12.3% –
Return on capital employed -17.8% -14.8% –
Asset turnover 0.0x 0.0x –
Cash conversion (OCF / net income) 0.3x 0.4x –
Stock comp / revenue 170.7% 250.5% –

Financial Health

11 metrics
MetricRGTIQBTSARQQ
Debt / assets – 3.0% –
Debt / equity – 0.0x –
Net debt / EBITDA – 3.2x –
Debt / FCF – -0.3x –
Liabilities / assets 17.1% 6.5% 21.3%
Equity / assets 82.9% 93.5% 78.7%
Interest coverage – -180.3x –
Current ratio 3.9x 20.5x 4.9x
Quick ratio 3.8x 20.1x 4.9x
Cash ratio 3.7x 20.0x 4.4x
Altman Z-score 17.67 28.71 –

Shareholder Returns

7 metrics
MetricRGTIQBTSARQQ
Dividend yield – – –
Net buyback yield -1.4% -1.6% –
Shareholder yield -1.4% -1.6% –
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.

ConsensusRGTIQBTSARQQ
EPS, next fiscal year $-0.20FY2026 $-0.31FY2026 $-1.46FY2026
Revenue, next fiscal year $22.61MFY2026 $40.06MFY2026 $2.41MFY2026
Revenue growth, next FY +218.9%FY2026 +62.9%FY2026 +355.4%FY2026
Revenue growth, the year after +115.1% +112.2% +208.4%

Institutional Ownership

13F filings, quarter ended Jun 30, 2026
HoldersRGTIQBTSARQQ
Held by institutions 52.1% 53.1% 89.2%
Institutions holding 477 551 66
Change in shares held, QoQ +0.0% +12.5% +205.7%
Institutions buying 308 370 42
Institutions selling 87 101 11
Buyers to sellers 3.54 3.66 3.82

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.

RGTIQBTSARQQ
RGTI 1.00 0.93 0.67
QBTS 0.93 1.00 0.67
ARQQ 0.67 0.67 1.00

Add a Peer

Largest companies in the same industry

Related Comparisons

Frequently Asked Questions

Which is bigger, RGTI, QBTS and ARQQ?

D-Wave Quantum (QBTS) is the largest by market capitalisation: Rigetti Computing (RGTI) $3.56B, D-Wave Quantum (QBTS) $3.75B, Arqit Quantum (ARQQ) $217.91M.

Which company is growing faster?

Rigetti Computing (RGTI) grew revenue fastest over the trailing twelve months: Rigetti Computing (RGTI) +68.5%, D-Wave Quantum (QBTS) -44.2%.

Which company is more profitable?

Rigetti Computing (RGTI) has the highest net margin (Rigetti Computing (RGTI) -1,787.4%, D-Wave Quantum (QBTS) -2,001.6%).

Which stock has performed better?

Over the past year Arqit Quantum (ARQQ) returned the most: Rigetti Computing (RGTI) -75.9%, D-Wave Quantum (QBTS) -72.8%, Arqit Quantum (ARQQ) -67.3%. Over five years, Rigetti Computing (RGTI) compounded fastest (Rigetti Computing (RGTI) +0.6%/yr, D-Wave Quantum (QBTS) +0.5%/yr, Arqit Quantum (ARQQ) -52.1%/yr). Returns are price only, before dividends.

Which stock is riskier?

By one-year price volatility, Rigetti Computing (RGTI) has been the steadiest (Rigetti Computing (RGTI) 92.9%, D-Wave Quantum (QBTS) 100.0%, Arqit Quantum (ARQQ) 111.6%). Volatility measures how widely the price swings, not the risk of the business.

Which is the better stock, RGTI, QBTS and ARQQ?

There is no single answer; it depends on what you are buying for. On the 12 head-to-head measures on this page, Rigetti Computing (RGTI) leads on 4. 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.