IONQNYSEServices-Computer Integrated Systems DesignFiscal year ends December 31
IonQ, Inc.
Financials through Q2 FY2026, quarter ended Jun 30, 2026Last filing: 10-Q on Aug 10, 2026
$30.78−0.50 (-1.60%)
Close on Oct 19, 2026
- Market cap
- $11.32B
- P/E (TTM)
- –
- Dividend yield
- –
Margins
Share of revenue, fiscal years 2019 to 2025
Gross margin
40.4%
Operating margin
-487.4%
Net margin
-392.6%
Growth rates
Compound annual growth to fiscal 2025
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | +201.9% | +126.9% | – | – | |
| Gross profit | +133.7% | +85.8% | – | – |
Returns and balance sheet
7 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2019 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | – | – | -24.4% | |
| Return on assets | – | – | -14.4% | |
| Current ratio | – | 20.51 | 15.50 | |
| Capex to revenue | – | – | 12.6% | |
| Diluted shares | – | 115M | 280M |
Where the cash went
Fiscal 2021 to 2025, five years combined
IonQ generated $538.92M from operations and spent $65.23M on capital expenditure, dividends and share buybacks. 100% of that went back into the business.
Generated
$538.92M
Used
$65.23M
Capital expenditure$65.23M100%Dividends$00%Share buybacks$00%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin-392.6%
×Asset turnover0.04×
×Equity multiplier1.69×
=Return on equity, FY2025-24.4%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2025 | -392.6% | 0.04× | 1.69× | -24.4% |
| FY2024 | -770.0% | 0.08× | 1.22× | -76.3% |
| FY2023 | -715.8% | 0.04× | 1.09× | -30.0% |
| FY2022 | -435.8% | 0.02× | 1.07× | -8.4% |
| FY2021 | -5058.9% | 0.01× | 1.09× | -32.9% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
3of 8 tests passed in fiscal 2025. Some tests lack the figures they need.
- ProfitableNet income above zero-$510.38M
- Cash generatingOperating cash flow above zero-$283.19M
- Return on assets improvedROA up on the prior year-59.9% → -100.4%
- Earnings backed by cashOperating cash flow above net income-$283.19M vs -$510.38M
- Less leverageLong-term debt to assets fell– → –
- Better liquidityCurrent ratio rose10.50 → 15.50
- No dilutionShare count did not rise213M → 280M
- Gross margin improvedGross margin up on the prior year52.18% → 40.40%
- More efficientAsset turnover rose0.08 → 0.26