Quantum Computing, Inc. (QUBT) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

-33.9%

$4.46

vs $6.75 price

Levered DCF

$4.36

After debt service

Piotroski score

1 / 9

Weak

Altman Z-score

19.94

Safe zone

Rating

B-

Overall 3 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
P/E	-93.27×	-22.67×	-2.17×	-3.15×	-3.55×	-16.03×	-2.63×	-1.35×
P/B	1.06×	14.48×	0.89×	1.3×	6.14×	27.07×	-7.85×	-9.34×
P/S	2,474.62×	4,165.5×	169.9×	621.36×	0×	0×	0×	0×
EV / EBITDA	-69.63×	-23.71×	-2.78×	-3.83×	-4.9×	-20.28×	-9.3×	-2.42×
Gross margin	9.8%	30.0%	45.3%	55.1%	0.0%	0.0%	0.0%	0.0%
Operating margin	-7489.3%	-6953.6%	-7330.4%	-21062.5%	0.0%	0.0%	0.0%	0.0%
Net margin	-2738.1%	-18375.9%	-7548.0%	-19101.5%	0.0%	0.0%	0.0%	0.0%
Current ratio	102.38×	17.36×	0.55×	1.19×	15.91×	21.98×	0.04×	0.54×
Debt / equity	0×	0.01×	0.04×	0.16×	0×	0.01×	-0.57×	-2.09×
Interest coverage	-785.8×	-10.39×	-16.38×	-37.1×	-61.46×	-2.89×	-0.44×	-1.42×
Dividend yield	0.0%	0.0%	1.4%	0.9%	0.0%	0.0%	0.0%	0.0%
Payout ratio	0.0%	-0.3%	-3.2%	-3.0%	0.0%	0.0%	0.0%	0.0%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	-1.2%	-63.9%	-39.3%	-39.9%	-172.2%	-169.7%	298.0%	692.6%
Return on invested capital	-3.2%	-17.4%	-36.7%	-37.8%	-105.6%	-117.2%	211.7%	-330.7%
Return on assets	-1.2%	-44.6%	-36.3%	-33.1%	-161.4%	-162.0%	-5653.5%	-553.8%
Free cash flow yield	-2.2%	-1.4%	-33.6%	-19.2%	-6.9%	-2.9%	-10.3%	-16.7%
Earnings yield	-1.1%	-4.4%	-44.4%	-30.7%	-28.1%	-6.3%	-37.9%	-74.1%
Enterprise value	$951.6M	$1.5B	$61.5M	$89.4M	$82.7M	$379.6M	$23.6M	$15.6M
Net debt / EBITDA	53.86×	1.25×	-0.03×	-0.21×	0.99×	0.8×	-0.59×	-0.22×
Cash conversion cycle (days)	1,970	-1,867	-2,236	-5,183	0	-20,240	-30,176	-168,518