As the quantum computing industry rapidly evolves, two key players—IonQ, Inc. and Quantum Computing, Inc.—have emerged as significant contenders in this transformative market. Both companies operate within the computer hardware sector but differentiate themselves through their unique approaches to innovation and technology deployment. IonQ focuses on developing general-purpose quantum computing systems, while Quantum Computing, Inc. emphasizes software solutions that prepare traditional applications for quantum environments. In this article, I’ll help you determine which of these companies presents the most compelling investment opportunity.
Table of contents
Company Overview
IonQ Overview
IonQ, Inc. is a leader in the development of general-purpose quantum computing systems, focused on delivering cutting-edge technology through cloud platforms such as AWS, Microsoft Azure, and Google Cloud. Founded in 2015 and headquartered in College Park, Maryland, IonQ aims to democratize access to quantum computing by allowing users to leverage its 20-qubit systems for various applications. With a market cap of approximately $13.97B, IonQ is recognized for its innovative contributions to the quantum computing field, enabling advancements in sectors ranging from finance to pharmaceuticals.
Quantum Computing, Inc. Overview
Quantum Computing, Inc. specializes in providing software tools and applications designed to harness the potential of quantum computers. Established in 2018 and based in Leesburg, Virginia, the company offers Qatalyst, an accelerator that allows developers to create applications compatible with both conventional and quantum computers. With a market cap of around $1.58B, Quantum Computing, Inc. focuses primarily on serving commercial and government clients, positioning itself as a critical player in the quantum software landscape.
Key similarities between IonQ and Quantum Computing, Inc. include their focus on quantum computing and their roles within the technology sector. However, they differ significantly in their business models: IonQ develops hardware for quantum processing, while Quantum Computing, Inc. emphasizes software solutions that enable application development across different quantum platforms. This distinction underscores their complementary positions within the evolving quantum ecosystem.
Income Statement Comparison
The table below presents a comparative overview of the latest income statements for IonQ, Inc. and Quantum Computing, Inc. for the fiscal year 2024.
| Metric | IonQ, Inc. | Quantum Computing, Inc. |
|---|---|---|
| Revenue | 43.1M | 0.4M |
| EBITDA | -312.9M | -62.2M |
| EBIT | -331.6M | -66.0M |
| Net Income | -331.6M | -68.5M |
| EPS | -1.56 | -0.73 |
Interpretation of Income Statement
In 2024, IonQ, Inc. experienced a significant increase in revenue to 43.1M, up from 22.0M in 2023, indicating robust growth in demand. Conversely, Quantum Computing, Inc.’s revenue was minimal at 0.4M, reflecting challenges in market penetration. Both companies reported negative EBITDA and net income, with IonQ facing a larger loss compared to Quantum. Notably, IonQ’s margins have shown slight improvement amid rising revenues, whereas Quantum continues to struggle with high operational costs, suggesting the need for strategic adjustments to enhance profitability and operational efficiency moving forward.
Financial Ratios Comparison
This section provides a comparative view of the most recent financial metrics for IonQ, Inc. (IONQ) and Quantum Computing, Inc. (QUBT).
| Metric | IONQ | QUBT |
|---|---|---|
| ROE | -86.40% | -63.89% |
| ROIC | -48.22% | -17.41% |
| P/E | -26.83 | -2.25 |
| P/B | 23.18 | 0.89 |
| Current Ratio | 10.50 | 17.36 |
| Quick Ratio | 9.98 | 17.36 |
| D/E | 0.046 | 0.040 |
| Debt-to-Assets | 3.49% | 3.72% |
| Interest Coverage | 0 | -10.39 |
| Asset Turnover | 0.085 | 0.002 |
| Fixed Asset Turnover | 0.692 | 0.038 |
| Payout Ratio | 0 | -3.20 |
| Dividend Yield | 0% | 1.42% |
Interpretation of Financial Ratios
Both companies exhibit negative returns on equity (ROE) and invested capital (ROIC), reflecting their unprofitable status. IonQ has a higher P/B ratio, indicating a greater market valuation relative to its book value. The current and quick ratios suggest both firms maintain ample liquidity, but QUBT leads significantly. Additionally, the absence of positive interest coverage in both companies raises concerns about their ability to meet debt obligations. Overall, caution is warranted when considering investments in either company.
Dividend and Shareholder Returns
Neither IonQ, Inc. (IONQ) nor Quantum Computing, Inc. (QUBT) pays dividends, reflecting their focus on reinvestment strategies to fuel growth in the competitive tech landscape. Both companies are in high growth phases, prioritizing R&D and capital expenditures. IonQ has engaged in share buybacks, while QUBT has a minimal dividend yield indicating potential plans for future payouts. This lack of dividends might align with long-term shareholder value creation if effectively leveraged into sustainable growth.
Strategic Positioning
IonQ, Inc. (IONQ) holds a significant position in the quantum computing market, boasting a market cap of approximately $13.97B and a robust product offering through major cloud platforms. In contrast, Quantum Computing, Inc. (QUBT) has a market cap of around $1.58B, focusing on software tools for quantum applications. Both companies are under competitive pressure from rapid technological advancements and emerging players in the field. IonQ’s robust market share positions it well against potential disruptions, while QUBT’s strategic niche in software remains vital for its growth.
Stock Comparison
In this section, I will analyze the stock price movements of IonQ, Inc. (IONQ) and Quantum Computing, Inc. (QUBT) over the past year, highlighting key trends and trading dynamics.
Trend Analysis
IonQ, Inc. (IONQ) Over the past year, IONQ has experienced a remarkable price change of +291.75%. This bullish trend indicates strong demand and investor confidence, despite a recent decrease of -15.46% from September 14, 2025, to November 30, 2025, signaling some short-term volatility. The highest price reached during this period was 73.28, while the lowest was 6.76. The trend shows signs of deceleration, with a standard deviation of 18.43, indicating relatively high volatility in stock prices.
Quantum Computing, Inc. (QUBT) QUBT has demonstrated an impressive price change of +1318.7% over the past year, reflecting a robust bullish trend. However, the recent trend from September 14, 2025, to November 30, 2025, indicates a significant drop of -31.78%. This suggests a period of decreased investor optimism. The highest price for QUBT was 24.62, and the lowest was 0.5. Similar to IONQ, QUBT’s trend is also showing deceleration, with a standard deviation of 7.07, pointing to moderate volatility in its stock price.
In summary, while both stocks have shown exceptional long-term growth, their recent trends suggest a need for careful monitoring as investor sentiment fluctuates.
Analyst Opinions
Recent analyst recommendations for IonQ, Inc. (IONQ) suggest a cautious stance, with a rating of C- indicating concerns about its financial health, particularly in return on equity and overall valuation metrics. On the other hand, Quantum Computing, Inc. (QUBT) has received a slightly better rating of C+, yet still reflects issues in return on assets and equity. Analysts are generally leaning toward a hold for both companies, as the consensus indicates limited upside potential given the current financial scores. Therefore, I would recommend a careful evaluation before making investment decisions in these stocks.
Stock Grades
In this section, I’ll share the latest stock ratings for IonQ, Inc. and Quantum Computing, Inc., providing insights into their investment potential based on reliable grading data.
IonQ, Inc. Grades
| Grading Company | Action | New Grade | Date |
|---|---|---|---|
| Benchmark | maintain | Buy | 2024-08-12 |
| Goldman Sachs | maintain | Neutral | 2024-08-09 |
| Craig-Hallum | maintain | Buy | 2024-08-08 |
| Needham | maintain | Buy | 2024-05-16 |
| Needham | maintain | Buy | 2024-05-09 |
| Goldman Sachs | maintain | Neutral | 2024-02-29 |
| Needham | maintain | Buy | 2024-02-29 |
| Morgan Stanley | maintain | Equal Weight | 2023-10-30 |
| Needham | maintain | Buy | 2023-09-20 |
| Needham | maintain | Buy | 2023-09-19 |
Quantum Computing, Inc. Grades
| Grading Company | Action | New Grade | Date |
|---|---|---|---|
| Lake Street | maintain | Buy | 2025-11-17 |
| Ascendiant Capital | maintain | Buy | 2025-10-03 |
| Ascendiant Capital | maintain | Buy | 2025-06-06 |
| Ascendiant Capital | maintain | Buy | 2025-04-28 |
| Ascendiant Capital | maintain | Buy | 2024-11-13 |
| Ascendiant Capital | maintain | Buy | 2023-11-24 |
Overall, both companies have consistent ratings from multiple reputable firms, with IonQ receiving a mix of “Buy” and “Neutral” grades, while Quantum Computing, Inc. maintains a strong “Buy” rating across the board. This suggests a generally positive sentiment towards both stocks, although IonQ may face some caution from analysts.
Target Prices
The consensus target prices from analysts indicate positive expectations for both IonQ, Inc. and Quantum Computing, Inc.
| Company | Target High | Target Low | Consensus |
|---|---|---|---|
| IonQ, Inc. | 75 | 55 | 64.5 |
| Quantum Computing, Inc. | 40 | 10 | 22 |
IonQ has a target consensus of 64.5, representing a significant upside from its current price of 47.05, while Quantum Computing’s consensus of 22 suggests potential growth from its current price of 11.6. Both companies present intriguing opportunities based on analyst projections.
Strengths and Weaknesses
The following table summarizes the strengths and weaknesses of IonQ, Inc. and Quantum Computing, Inc. based on the most recent data.
| Criterion | IonQ, Inc. | Quantum Computing, Inc. |
|---|---|---|
| Diversification | Limited | Limited |
| Profitability | Negative margins | Negative margins |
| Innovation | High focus on quantum technology | Focus on software applications for quantum computing |
| Global presence | Growing presence through partnerships | Limited reach primarily in the U.S. |
| Market Share | Emerging player | Emerging player |
| Debt level | Low (0.0349) | Very low (0.0077) |
Key takeaways: Both companies are emerging players in the quantum computing sector, with negative profitability margins. IonQ shows a stronger focus on innovation, while Quantum Computing has a slightly better debt profile.
Risk Analysis
Below is a summary table of the risks associated with IonQ, Inc. and Quantum Computing, Inc.:
| Metric | IonQ, Inc. | Quantum Computing, Inc. |
|---|---|---|
| Market Risk | High | High |
| Regulatory Risk | Medium | Medium |
| Operational Risk | High | High |
| Environmental Risk | Low | Low |
| Geopolitical Risk | Medium | Medium |
Both companies face significant market and operational risks, largely due to their positions in the emerging quantum computing sector. IonQ has a higher operational risk due to its complex technology and reliance on cloud services, while Quantum Computing, Inc. also contends with regulatory hurdles as it navigates government contracts.
Which one to choose?
When comparing IonQ (IONQ) and Quantum Computing, Inc. (QUBT), I find that both companies present unique profiles. IonQ has a market cap of approximately 8.9B and shows a bullish stock trend with a 291.75% price change over the last year, despite recent declines. Its financials reflect challenges, with a net profit margin of -7.70%. Analyst ratings give it a score of C-, indicating moderate concerns. Conversely, QUBT has a market cap of about 1.55B and boasts a remarkable 1318.7% price change, though it faces a -75.48% net profit margin and received a C+ rating, suggesting slightly better performance in some aspects.
Investors focused on aggressive growth may prefer QUBT due to its significant price increase and potential upside, while those seeking stability may tilt towards IonQ, given its more established market presence. However, both companies face risks related to competition and market volatility.
Disclaimer: This article is not financial advice. Each investor is responsible for their own investment decisions.
Go further
I encourage you to read the complete analyses of IonQ, Inc. and Quantum Computing, Inc. to enhance your investment decisions:
