D-Wave Quantum Inc. (QBTS) - Net Assets
Based on the latest financial reports, D-Wave Quantum Inc. (QBTS) has net assets worth $1.12 Billion USD as of March 2026. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets ($1.20 Billion) and total liabilities ($75.56 Million). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off. Check D-Wave Quantum Inc. PP&E and investment ratio to assess the company's strategic physical and investment asset allocation.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | $1.12 Billion |
| % of Total Assets | 93.7% |
| Annual Growth Rate | 91.94% |
| 5-Year Change | N/A |
| 10-Year Change | N/A |
| Growth Volatility | 708.24 |
D-Wave Quantum Inc. - Net Assets Trend (2020–2025)
This chart illustrates how D-Wave Quantum Inc.'s net assets have evolved over time, based on quarterly financial data. For live market cap and overall valuation, see QBTS company net worth.
Annual Net Assets for D-Wave Quantum Inc. (2020–2025)
The table below shows the annual net assets of D-Wave Quantum Inc. from 2020 to 2025. Also explore QBTS net assets growth trend to track the company's year-over-year net asset growth rate.
| Year | Net Assets | Change |
|---|---|---|
| 2025-12-31 | $852.23 Million | +1260.39% |
| 2024-12-31 | $62.65 Million | +355.90% |
| 2023-12-31 | $-24.48 Million | +16.91% |
| 2022-12-31 | $-29.46 Million | -60.51% |
| 2021-12-31 | $-18.36 Million | -156.08% |
| 2020-12-31 | $32.73 Million | -- |
Equity Component Analysis
This analysis shows how different components contribute to D-Wave Quantum Inc.'s total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.
Equity Composition Insights
- Retained earnings have decreased by 68827900000.0% over the analyzed period, potentially due to dividend distributions or operating losses.
Current Equity Component Breakdown (December 2025)
| Component | Amount | Percentage |
|---|---|---|
| Common Stock | $35.00K | 0.00% |
| Other Comprehensive Income | $-9.02 Million | -1.06% |
| Other Components | $1.84 Billion | 216.28% |
| Total Equity | $852.23 Million | 100.00% |
D-Wave Quantum Inc. Competitors by Market Cap
The table below lists competitors of D-Wave Quantum Inc. ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Shanghai Zhangjiang Hi-Tech Park Development Co Ltd
SHG:600895
|
$6.40 Billion |
|
WPG Holdings Ltd
TW:3702
|
$6.40 Billion |
|
Kalyan Jewellers India Limited
NSE:KALYANKJIL
|
$6.40 Billion |
|
General Insurance Corporation of India
NSE:GICRE
|
$6.40 Billion |
|
VOESTALPINE ADR 1/5/O.N.
F:VASS
|
$6.39 Billion |
|
GDS Holdings Ltd
NASDAQ:GDS
|
$6.39 Billion |
|
Posco International Corp
KO:047050
|
$6.39 Billion |
|
Ternium SA DRC
BA:TXR
|
$6.38 Billion |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in D-Wave Quantum Inc.'s equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 62,646,000 to 852,230,000, a change of 789,584,000 (1260.4%).
- Net loss of 355,062,000 reduced equity.
- Share repurchases of 37,787,000 reduced equity.
- New share issuances of 574,528,000 increased equity.
- Other comprehensive income increased equity by 1,489,000.
- Other factors increased equity by 606,416,000.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | $-355.06 Million | -41.66% |
| Share Repurchases | $37.79 Million | -4.43% |
| Share Issuances | $574.53 Million | +67.41% |
| Other Comprehensive Income | $1.49 Million | +0.17% |
| Other Changes | $606.42 Million | +71.16% |
| Total Change | $- | 1260.39% |
Book Value vs Market Value Analysis
This analysis compares D-Wave Quantum Inc.'s book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.
Valuation Insights
- Current price-to-book ratio: 6.56x
- The company is trading at a significant premium to its book value, suggesting the market values its earnings potential, brand, or other intangibles highly.
- The price-to-book ratio has decreased from 58.38x to 6.56x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2020-12-31 | $0.30 | $17.41 | x |
| 2021-12-31 | $-0.15 | $17.41 | x |
| 2022-12-31 | $-0.25 | $17.41 | x |
| 2023-12-31 | $-0.18 | $17.41 | x |
| 2024-12-31 | $0.33 | $17.41 | x |
| 2025-12-31 | $2.65 | $17.41 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently D-Wave Quantum Inc. utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): -41.66%
- The company may be facing challenges in efficiently utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: -1444.10%
- • Asset Turnover: 0.03x
- • Equity Multiplier: 1.07x
- Recent ROE (-41.66%) is above the historical average (-56.41%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2020 | -67.12% | -425.72% | 0.11x | 1.45x | $-25.24 Million |
| 2021 | 0.00% | -652.54% | 0.21x | 0.00x | $-39.14 Million |
| 2022 | 0.00% | -748.67% | 0.27x | 0.00x | $-50.76 Million |
| 2023 | 0.00% | -944.45% | 0.15x | 0.00x | $-80.27 Million |
| 2024 | -229.67% | -1629.99% | 0.04x | 3.19x | $-150.14 Million |
| 2025 | -41.66% | -1444.10% | 0.03x | 1.07x | $-440.29 Million |
Industry Comparison
This section compares D-Wave Quantum Inc.'s net assets metrics with peer companies in the Computer Hardware industry.
Industry Context
- Industry: Computer Hardware
- Average net assets among peers: $667,399,229
- Average return on equity (ROE) among peers: 1.40%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| D-Wave Quantum Inc. (QBTS) | $1.12 Billion | -67.12% | 0.07x | $6.39 Billion |
| AGM Group Holdings Inc Class A (AGMH) | $11.85 Million | -13.19% | 0.22x | $1.52 Million |
| AstroNova Inc (ALOT) | $63.69 Million | 16.67% | 0.25x | $227.32 Million |
| PRODWAYS GROUP (ALPWG) | $53.53 Million | -26.17% | 0.97x | $19.24 Million |
| AMC Robotics Corporation (AMCI) | $-1.55 Million | 0.00% | 0.00x | $73.80 Million |
| Arista Networks (ANET) | $1.66 Billion | 25.46% | 0.48x | $171.79 Billion |
| Braiin Limited Common Stock (BRAI) | $-2.83 Million | 0.00% | 0.00x | $375.77 Million |
| BTC Digital Ltd. (BTCT) | $-362.54 Million | 0.00% | 0.00x | $11.33 Million |
| Canaan Inc (CAN) | $4.16 Billion | 11.50% | 0.13x | $236.25 Million |
| Cricut Inc (CRCT) | $466.76 Million | 13.46% | 0.48x | $326.99 Million |
| Corsair Gaming Inc (CRSR) | $619.45 Million | -13.75% | 1.00x | $842.23 Million |
About D-Wave Quantum Inc.
D-Wave Quantum Inc. engages in the development and delivery of quantum computing systems, software, and services worldwide. It provides Advantage and Advantage 2 quantum computers; Ocean, a suite of open-source tools; and Leap quantum cloud service, a cloud-based service that provides real-time access to quantum computers and quantum hybrid solvers; and secure access and data protection services,… Read more