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IonQ Valuation Multiples

Discover revenue and EBITDA valuation multiples for IonQ and similar public comparables like VSTECS Holdings, Dropsuite, and ParTec.

IonQ Overview

About IonQ

IonQ Inc sells access to several quantum computers of various qubit capacities and is in the process of researching and developing technologies for quantum computers with increasing computational capabilities. The company currently makes access to its quantum computers available via cloud platforms and also to select customers via its own cloud service. This cloud-based approach enables the broad availability of quantum-computing-as-a-service (QCaaS). The company derives its revenue from its quantum-computing-as-a-service arrangements, consulting services related to co-developing algorithms on company's quantum computing systems and contracts associated with the design, development, and construction of specialized quantum computing systems together with related services.


Founded

2020

HQ

United States of America
Employees

407

Website

ionq.com

Financials

LTM Revenue $60.1M

LTM EBITDA -$126M

EV

$9.4B

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IonQ Financials

IonQ has a last 12-month revenue (LTM) of $60.1M and a last 12-month EBITDA of -$126M.

In the most recent fiscal year, IonQ achieved revenue of $43.1M and an EBITDA of -$214M.

IonQ expects next 12-month revenue of  XXX    and NTM EBITDA of  XXX

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IonQ P&L

LTM NTM Last FY FY 2025 FY 2026 FY 2027
Revenue $60.1M XXX $43.1M XXX XXX XXX
Gross Profit $34.8M XXX $22.5M XXX XXX XXX
Gross Margin 58% XXX 52% XXX XXX XXX
EBITDA -$126M XXX -$214M XXX XXX XXX
EBITDA Margin -210% XXX -496% XXX XXX XXX
EBIT -$161M XXX -$232M XXX XXX XXX
EBIT Margin -269% XXX -540% XXX XXX XXX
Net Profit -$294M XXX -$332M XXX XXX XXX
Net Margin -489% XXX -770% XXX XXX XXX
Net Debt XXX XXX n/a XXX XXX XXX

Financial data powered by Morningstar, Inc.

IonQ Stock Performance

As of May 30, 2025, IonQ's stock price is $40.

IonQ has current market cap of $10.0B, and EV of $9.4B.

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IonQ Stock Data

EV Market Cap Price 1D Price 1M Price 3M Price 12M EPS
$9.4B $10.0B XXX XXX XXX XXX $-1.39

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IonQ Valuation Multiples

As of May 30, 2025, IonQ has market cap of $10.0B and EV of $9.4B.

IonQ's trades at 218.8x EV/Revenue multiple, and -44.1x EV/EBITDA.

Equity research analysts estimate IonQ's 2025E EV/Revenue multiple at  XXX and 2025E EV/EBITDA multiple at  XXX

IonQ has a P/E ratio of -34.0x.

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IonQ Financial Valuation Multiples

LTM NTM Last FY FY 2025 FY 2026 FY 2027
Market cap (current) $10.0B XXX $10.0B XXX XXX XXX
EV (current) $9.4B XXX $9.4B XXX XXX XXX
EV/Revenue 156.8x XXX 218.8x XXX XXX XXX
EV/EBITDA -74.7x XXX -44.1x XXX XXX XXX
EV/EBIT -58.4x XXX -40.5x XXX XXX XXX
EV/Gross Profit 270.9x XXX n/a XXX XXX XXX
P/E -34.0x XXX -30.1x XXX XXX XXX
EV/FCF -63.5x XXX -72.9x XXX XXX XXX

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IonQ Margins & Growth Rates

IonQ's last 12 month revenue growth is 96%

IonQ's revenue per employee in the last FY averaged $0.1M, while opex per employee averaged $0.6M for the same period.

IonQ's rule of 40 is -572% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).

IonQ's rule of X is 31% (created by Bessemer, rule of X is another metric relevant for SaaS companies only, ~1.5x stronger vs. the traditional Rule of 40, counted as revenue growth rate multiplied by 2.5 plus EBITDA margin).

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IonQ Operational Valuation Multiples

LTM NTM Last FY FY 2025 FY 2026 FY 2027
Revenue Growth 96% XXX 96% XXX XXX XXX
EBITDA Margin -210% XXX -496% XXX XXX XXX
EBITDA Growth 28% XXX n/a XXX XXX XXX
Rule of 40 -572% XXX -400% XXX XXX XXX
Bessemer Rule of X XXX XXX 31% XXX XXX XXX
Revenue per Employee XXX XXX $0.1M XXX XXX XXX
Opex per Employee XXX XXX $0.6M XXX XXX XXX
S&M Expenses to Revenue XXX XXX 66% XXX XXX XXX
G&A Expenses to Revenue XXX XXX n/a XXX XXX XXX
R&D Expenses to Revenue XXX XXX 318% XXX XXX XXX
Opex to Revenue XXX XXX 592% XXX XXX XXX

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IonQ Public Comps

See public comps and valuation multiples for Data Storage and Data Centers comps
EV/Revenue EV/EBITDA
2025E 2026E 2027E 2025E 2026E 2027E
Dropsuite XXX XXX XXX XXX XXX XXX
Netweb Technologies India XXX XXX XXX XXX XXX XXX
Logicom Group XXX XXX XXX XXX XXX XXX
ParTec XXX XXX XXX XXX XXX XXX
VSTECS Holdings XXX XXX XXX XXX XXX XXX
XXXXXXXX XXX XXX XXX XXX XXX XXX
XXXXXXXX XXX XXX XXX XXX XXX XXX

Valuation data powered by FactSet, Inc.

IonQ M&A and Investment Activity

IonQ acquired  XXX companies to date.

Last acquisition by IonQ was  XXXXXXXX, XXXXX XXXXX XXXXXX . IonQ acquired  XXXXXXXX for  XXX (EV/Revenue multiple of  XXX ).

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Latest Acquisitions by IonQ

Acquired Company EV EV/Revenue EV/EBITDA
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX

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About IonQ

When was IonQ founded? IonQ was founded in 2020.
Where is IonQ headquartered? IonQ is headquartered in United States of America.
How many employees does IonQ have? As of today, IonQ has 407 employees.
Who is the CEO of IonQ? IonQ's CEO is Mr. Niccolo de Masi.
Is IonQ publicy listed? Yes, IonQ is a public company listed on NYS.
What is the stock symbol of IonQ? IonQ trades under IONQ ticker.
When did IonQ go public? IonQ went public in 2021.
Who are competitors of IonQ? Similar companies to IonQ include e.g. Dropsuite, Netweb Technologies India, Logicom Group, ParTec.
What is the current market cap of IonQ? IonQ's current market cap is $10.0B
What is the current revenue of IonQ? IonQ's last 12 months revenue is $60.1M.
What is the current revenue growth of IonQ? IonQ revenue growth (NTM/LTM) is 96%.
What is the current EV/Revenue multiple of IonQ? Current revenue multiple of IonQ is 156.8x.
Is IonQ profitable? Yes, IonQ is EBITDA-positive (as of the last 12 months).
What is the current EBITDA of IonQ? IonQ's last 12 months EBITDA is -$126M.
What is IonQ's EBITDA margin? IonQ's last 12 months EBITDA margin is -210%.
What is the current EV/EBITDA multiple of IonQ? Current EBITDA multiple of IonQ is -74.7x.
What is the current FCF of IonQ? IonQ's last 12 months FCF is -$148M.
What is IonQ's FCF margin? IonQ's last 12 months FCF margin is -247%.
What is the current EV/FCF multiple of IonQ? Current FCF multiple of IonQ is -63.5x.

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