D-Wave Quantum (QBTS) Debt Ratio (2020 - 2026)
D-Wave Quantum's (QBTS) Debt Ratio stood at 0.03 in Q2 2026, down 20.4% from 0.04 a year earlier but up 2.0% from the prior quarter.
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Analysis
D-Wave Quantum (QBTS) Debt Ratio (2020 - 2026) Analysis & Trends
For FY2025, D-Wave Quantum's Debt Ratio came in at 0.04, down 74.3% from FY2024.
- Annual Debt Ratio has declined for three straight years.
- Across earlier years, Debt Ratio came in at 0.15 in FY2024 (-85.9%), 1.08 in FY2023 (-12.8%), 1.24 in FY2022 (+19.1%) and 1.04 in FY2021.
- Quarterly Debt Ratio has ranged from 0.03 in Q1 2026 to 1.93 in Q2 2023 over the past five years.
- On a year-over-year basis, Debt Ratio has declined for seven consecutive quarters, with an average decline of 66.3% over the last eight quarters.
- Peak year-over-year performance for Debt Ratio in the last five years was growth of 100.8% in Q2 2023, against a decline of 96.3% in Q2 2025 at the low end.
- Per Business Quant, the preceding three quarters came in at 0.03 (Q1 2026), 0.04 (Q4 2025) and 0.04 (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Debt Ratio (Qtr) |
|---|---|---|---|---|---|
| 1 | Palo Alto Networks | 330.54 Bn | 315.61 Bn | 2.30 Bn | - |
| 2 | CrowdStrike Holdings | 271.79 Bn | 252.23 Bn | 1.10 Bn | 0.06 |
| 3 | Fortinet | 138.86 Bn | 124.79 Bn | 1.64 Bn | 0.05 |
| 4 | Snowflake | 117.29 Bn | 104.60 Bn | 1.04 Bn | - |
| 5 | Datadog | 97.40 Bn | 79.04 Bn | 881.34 Mn | - |
| 6 | Okta | 36.44 Bn | 26.53 Bn | 641.00 Mn | - |
| 7 | Zscaler | 34.82 Bn | 20.94 Bn | - | - |
| 8 | Axon Enterprise | 32.98 Bn | 27.51 Bn | 546.45 Mn | 0.23 |
| 9 | MongoDB | 29.24 Bn | 19.71 Bn | 569.77 Mn | - |
| 10 | D-Wave Quantum | 5.66 Bn | 5.66 Bn | 1.70 Mn | 0.03 |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 0.03 |
| Mar 31, 2026 | 0.03 |
| Dec 31, 2025 | 0.04 |
| Sep 30, 2025 | 0.04 |
| Jun 30, 2025 | 0.04 |
| Mar 31, 2025 | 0.09 |
| Dec 31, 2024 | 0.15 |
| Sep 30, 2024 | 0.93 |
| Jun 30, 2024 | 1.04 |
| Mar 31, 2024 | 1.30 |
| Dec 31, 2023 | 1.08 |
| Sep 30, 2023 | 0.90 |
| Jun 30, 2023 | 1.93 |
| Mar 31, 2023 | 1.18 |
| Dec 31, 2022 | 1.24 |
| Sep 30, 2022 | 0.45 |
| Jun 30, 2022 | 0.96 |
| Dec 31, 2021 | 1.04 |
| Dec 31, 2020 | 0.05 |
API Access
D-Wave Quantum Debt Ratio API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=debt-ratio&ticker=QBTS&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "debt-ratio", "ticker": "QBTS", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=debt-ratio&ticker=QBTS&period=max&api_key=YOUR_API_KEY");
const data = await res.json();