Question 1

What is D-Wave Quantum's P/S ratio?

Accepted Answer

D-Wave Quantum (QBTS) P/S ratio is 704.3× as of June 5, 2026. The ratio is calculated by dividing market capitalisation by trailing twelve-month revenue, using USD-normalised financials (IAS 21 exchange-rate translation for non-USD reporters).

Question 2

How is the P/S ratio calculated?

Accepted Answer

P/S = Market Capitalisation ÷ Trailing Twelve-Month (TTM) Revenue, or equivalently Share Price ÷ TTM Revenue Per Share. All inputs are sourced from audited GAAP/IFRS filings and translated to USD using period-end exchange rates so the multiple is comparable across companies and currencies.

Question 3

What is the P/S ratio?

Accepted Answer

The price-to-sales (P/S) ratio compares a company's market capitalisation to its trailing twelve-month (TTM) revenue. It is calculated as market cap ÷ TTM revenue (equivalent to share price ÷ TTM revenue per share). Because the denominator (revenue) cannot be negative, P/S is widely used to value unprofitable or pre-profit companies and to make cross-sector comparisons.

Question 4

What is a good P/S ratio for D-Wave Quantum?

Accepted Answer

A "good" P/S depends heavily on profit margin and growth: software and other high-margin businesses often command 5–15× sales, while low-margin retailers and commodity producers typically trade below 1×. Compare against sector peers rather than absolute thresholds. For D-Wave Quantum specifically, the relevant sector benchmark is the current sector median of 5.7×.

Question 5

Is D-Wave Quantum's P/S ratio high or low?

Accepted Answer

D-Wave Quantum's P/S ratio of 704.3× is above its own 5-year average of 138.4× and above the sector median of 5.7×. That places the current reading at the 99th percentile of its 10-year history. A higher multiple usually reflects stronger expected growth, lower perceived risk, or higher returns on capital; a lower multiple reflects the opposite.

Question 6

What is D-Wave Quantum's historical P/S ratio range?

Accepted Answer

In the available daily series, D-Wave Quantum (QBTS) P/S ratio has ranged from a low of 6.7× in 2023 to a high of 890.0× in 2026. The 5-year average is 138.4× and the 5-year median is 114.4×.

Question 7

What was D-Wave Quantum's P/S ratio in 2025?

Accepted Answer

D-Wave Quantum (QBTS) P/S ratio at the end of 2025 was 375.4×. Annual values reflect the multiple on the last trading day of each calendar year, using the trailing twelve-month revenue figure available at that date.

Question 8

Why does D-Wave Quantum's P/S ratio change over time?

Accepted Answer

Valuation multiples move with two inputs: the numerator (market capitalisation, which tracks the share price) and the denominator (revenue). Share-price changes — driven by interest rates, earnings expectations, risk appetite, and broader market sentiment — typically dominate short-term moves, while changes in the underlying fundamental drive the longer-term trend. As a result, the ratio can rise during stock-price rallies even if the business itself has not become more valuable, and fall during sell-offs even when fundamentals are improving.


2025	$9.23B	$24.59M	375.4×	+153.6×	Dec 31, 2025
2024	$1.96B	$8.83M	221.7×	+205.8×	Dec 31, 2024
2023	$139.82M	$8.76M	16.0×	-7.7×	Dec 31, 2023
2022	$169.85M	$7.17M	23.7×	-172.4×	Dec 31, 2022
2021	$1.23B	$6.28M	196.1×	—	Dec 31, 2021


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P/S Ratio for D-Wave Quantum (QBTS)

P/S Ratio daily chart for D-Wave Quantum (QBTS)

Historical P/S Ratio for D-Wave Quantum (QBTS) from 2021 to 2025

About P/S Ratio at D-Wave Quantum (QBTS)

D-Wave Quantum P/S Ratio by Year

D-Wave Quantum P/S Ratio 2025: 375.4×

D-Wave Quantum P/S Ratio 2024: 221.7×

D-Wave Quantum P/S Ratio 2023: 16.0×

D-Wave Quantum P/S Ratio 2022: 23.7×

D-Wave Quantum P/S Ratio 2021: 196.1×

Sector peers by P/S Ratio — chart

Sector peers by P/S Ratio — table

Frequently asked questions

D-Wave Quantum (QBTS) Key Financials

P/S Ratio daily chart for D-Wave Quantum (QBTS)

Historical P/S Ratio for D-Wave Quantum (QBTS) from 2021 to 2025

About P/S Ratio at D-Wave Quantum (QBTS)

D-Wave Quantum P/S Ratio by Year

D-Wave Quantum P/S Ratio 2025: 375.4×

D-Wave Quantum P/S Ratio 2024: 221.7×

D-Wave Quantum P/S Ratio 2023: 16.0×

D-Wave Quantum P/S Ratio 2022: 23.7×

D-Wave Quantum P/S Ratio 2021: 196.1×

Sector peers by P/S Ratio — chart

Sector peers by P/S Ratio — table

Frequently asked questions

+What is D-Wave Quantum's P/S ratio?

+How is the P/S ratio calculated?

+What is the P/S ratio?

+What is a good P/S ratio for D-Wave Quantum?

+Is D-Wave Quantum's P/S ratio high or low?

+What is D-Wave Quantum's historical P/S ratio range?

+What was D-Wave Quantum's P/S ratio in 2025?

+Why does D-Wave Quantum's P/S ratio change over time?

D-Wave Quantum (QBTS) Key Financials