D-Wave Quantum [QBTS] vs Rigetti Computing [RGTI] Detailed Stock Comparison

D-Wave Quantum Inc.

NYSE
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Rigetti Computing Inc.

NASDAQ
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TLDR: Quick Comparison Summary

Based on 19 vital metrics comparison: D-Wave Quantum Inc. wins in 12 metrics, Rigetti Computing Inc. wins in 7 metrics, with 0 ties. D-Wave Quantum Inc. appears stronger overall.

View Metrics Details

Vital Metrics Comparison

Metric D-Wave Quantum Inc. Rigetti Computing Inc. Better
P/E Ratio (TTM) -17.39 -26.11 D-Wave Quantum Inc.
Price-to-Book Ratio 8.94 11.07 D-Wave Quantum Inc.
Debt-to-Equity Ratio 5.10 1.31 Rigetti Computing Inc.
PEG Ratio 0.26 0.29 D-Wave Quantum Inc.
EV/EBITDA -71.01 -79.58 D-Wave Quantum Inc.
Profit Margin (TTM) 82.59% 29.12% D-Wave Quantum Inc.
Operating Margin (TTM) -1,265.95% -1,209.69% Rigetti Computing Inc.
Return on Equity -77.62% -64.27% Rigetti Computing Inc.
Return on Assets (TTM) -11.24% -11.12% Rigetti Computing Inc.
Free Cash Flow (TTM) $-76.29M $-77.22M D-Wave Quantum Inc.
1-Year Return 84.57% 110.90% Rigetti Computing Inc.
Price-to-Sales Ratio (TTM) 319.56 855.21 D-Wave Quantum Inc.
Enterprise Value $7.02B $6.09B D-Wave Quantum Inc.
EV/Revenue Ratio 285.35 858.79 D-Wave Quantum Inc.
Gross Profit Margin (TTM) 64.83% 34.90% D-Wave Quantum Inc.
Revenue per Share (TTM) $0 $0 D-Wave Quantum Inc.
Earnings per Share (Diluted) $-1.11 $-0.70 Rigetti Computing Inc.
Beta (Stock Volatility) 1.77 1.83 D-Wave Quantum Inc.
Short % of Float 16.41% 14.88% Rigetti Computing Inc.

D-Wave Quantum Inc. vs Rigetti Computing Inc. Stock Performance Analysis

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QBTS
RGTI

Performance Comparison

Short-term Returns

Stock1D1W1M3M6MYTD
D-Wave Quantum Inc.-7.89%7.51%42.97%57.92%32.93%6.33%
Rigetti Computing Inc.-10.36%7.22%51.86%51.95%12.56%13.90%

Long-term Returns

Stock1Y3Y5Y10Y15Y20Y
D-Wave Quantum Inc.84.57%1,869.93%205.37%196.95%196.95%196.95%
Rigetti Computing Inc.110.90%2,802.27%159.03%157.72%157.72%157.72%

Performance & Financial Health Analysis: D-Wave Quantum Inc. vs Rigetti Computing Inc.

MetricQBTSRGTI
Market Information
Market Cap i$7.14B$6.07B
Market Cap CategoryMid capMid cap
10 Day Avg. Volume i43,692,14435,524,899
90 Day Avg. Volume i28,171,35128,035,616
Last Close$27.55$24.09
52 Week Range$12.75 - $46.75$10.30 - $58.15
% from 52W High-41.07%-58.56%
All-Time High$46.75 (Oct 15, 2025)$57.96 (Oct 15, 2025)
% from All-Time High-41.07%-58.44%
Growth Metrics
Quarterly Revenue Growth0.19%-0.18%
Quarterly Earnings Growth0.19%-0.18%
Financial Health
Profit Margin (TTM) i0.83%0.29%
Operating Margin (TTM) i-12.66%-12.10%
Return on Equity (TTM) i-0.78%-0.64%
Debt to Equity (MRQ) i5.101.31
Cash & Liquidity
Book Value per Share (MRQ)$2.38$1.65
Cash per Share (MRQ)$2.39$1.34
Operating Cash Flow (TTM) i$-71,982,000$-58,543,000
Levered Free Cash Flow (TTM) i$-57,992,124$-42,190,500
Dividends
Last 12-Month Dividend Yield iN/AN/A
Last 12-Month Dividend iN/AN/A

Valuation & Enterprise Metrics Analysis: D-Wave Quantum Inc. vs Rigetti Computing Inc.

MetricQBTS (Apr 24, 2026)RGTI (Apr 21, 2026)
Price Ratios
P/E Ratio (TTM) i-17.39-26.11
Forward P/E i-57.41-100.77
PEG Ratio i0.260.29
Price to Sales (TTM) i319.56855.21
Price to Book (MRQ) i8.9411.07
Market Capitalization
Market Capitalization i$7.14B$6.07B
Enterprise Value i$7.02B$6.09B
Enterprise Value Metrics
Enterprise to Revenue i285.35858.79
Enterprise to EBITDA i-71.01-79.58
Risk & Other Metrics
Beta i1.771.83
Book Value per Share (MRQ) i$2.38$1.65

Financial Statements Comparison: D-Wave Quantum Inc. vs Rigetti Computing Inc.

Financial Metrics

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Revenue

Operating Margin

Profit Margin

Long Term Debt

Income Flow Analysis

Financial Statements Comparison

Income Statement

MetricQBTS (2025)RGTI (2025)
Revenue/Sales i24.59M7.09M
Cost of Goods Sold i4.28M5.02M
COGS % of Revenue i17.4%70.9%
Gross Profit i20.31M2.06M
Gross Margin i82.6%29.1%
Research & Development i50.73M61.35M
Operating Income (EBIT) i-100.37M-84.66M
Operating Margin i-408.2%-1,194.4%
EBITDA i-78.04M-59.93M
EBITDA Margin i-317.4%-845.5%
Pre-Tax Income i-355.06M-216.21M
Pre-Tax Income % of Revenue i-1,444.1%-3,050.4%
Income Tax iN/A0
Income Tax % of Revenue i0.0%0.0%
Net Income (Profit) i-355.06M-216.21M
Profit Margin i-1,444.1%-3,050.4%

Balance Sheet & Liquidity Metrics

MetricQBTS (2025)RGTI (2025)
Cash & Equivalents i635.35M44.85M
Total Current Assets i896.23M454.76M
Total Current Assets % of Revenue i3,645.1%6,415.9%
Total Current Liabilities i21.15M12.15M
Total Current Liabilities % of Revenue i86.0%171.4%
Long-Term Debt i41.88M4.93M
Long-Term Debt % of Revenue i170.3%69.6%
Total Shareholders Equity i852.23M546.20M
Retained Earnings i-982.00M-770.96M
Retained Earnings % of Revenue i-3,994.0%-10,876.9%
Property, Plant & Equipment i7.56M93.78M

Cash Flow Statement Comparison

MetricQBTS (2025)RGTI (2025)
Operating Cash Flow i-350.88M-190.65M
Operating Cash Flow % of Revenue i-1,427.1%-2,689.8%
Capital Expenditures i-3.86M-18.68M
Free Cash Flow i-76.29M-77.22M
FCF Margin i-310.3%-1,089.4%
Debt Repayment i-365,0000
Common Stock Repurchase iN/AN/A

Short Interest & Institutional Ownership Analysis

MetricQBTSRGTI
Shares Short i58.77M49.22M
Short Ratio i2.681.90
Short % of Float i16.41%14.88%
Shares Outstanding i358.74M331.28M
Float Shares i360.00M326.98M
% Held by Insiders i1.15%1.60%
% Held by Institutions i45.96%48.93%
% Held by Public i52.89%49.47%

Dividend Analysis & Yield Comparison: D-Wave Quantum Inc. vs Rigetti Computing Inc.

MetricQBTSRGTI
Last 12-Month Dividend iN/AN/A
Last 12-Month Dividend Yield iN/AN/A
3-Year Avg Annual Dividend iN/AN/A
3-Year Avg Dividend Yield iN/AN/A
3-Year Total Dividends iN/AN/A
Ex-Dividend DateN/AN/A