A Look At D-Wave Quantum (QBTS) Valuation As Shares Struggle Despite Strong Long Term Returns - simplywall.st

ShareCopy LinkAdvertisement Why D-Wave Quantum is on investors’ radar D-Wave Quantum (QBTS) has drawn fresh attention as investors reassess quantum computing exposure. They are looking closely at its recent returns, revenue base and ongoing losses to understand how the current share price reflects that profile. See our latest analysis for D-Wave Quantum. Recent trading reflects that tension between promise and risk, with the share price at $17.47 and a 30 day share price return of an 11% decline, adding to a 37.9% year to date decline, despite a 1 year total shareholder return of 61.76% and a very large 3 year total shareholder return that hints at earlier enthusiasm now cooling. If quantum computing is on your watchlist, it can help to compare D-Wave Quantum with a broader set of peers by scanning 24 quantum computing stocks So, with a share price of $17.47, a market value of about $6.46b, fast growing revenue but heavy losses, and a large gap to the average analyst price target, is there a buying opportunity here, or is the market already pricing in future growth?

Most Popular Narrative: 57% Undervalued According to Wil_Analyst, the most followed narrative for D-Wave Quantum pegs fair value at $40.65, well above the recent $17.47 close, and builds a case around scale, liquidity and bookings momentum. The most critical underlying factor in D-Wave’s 2026 narrative is its unprecedented liquidity. Following the financial restructuring associated with the QCi merger, D-Wave enters 2026 with its largest cash-on-hand position in company history. Read the complete narrative. This story leans on rapid top line expansion, ambitious margins and a rich future earnings multiple to justify that fair value. It also examines which assumptions matter most and how they fit together. Result: Fair Value of $40.65 (UNDERVALUED) Have a read of the narrative in full and understand what's behind the forecasts. However, this story still faces pressure, with ongoing net losses of US$355.062m and a very large gap between current revenue of US$24.587m and market value. Find out about the key risks to this D-Wave Quantum narrative.

Next Steps With sentiment clearly split between risk and reward, this is the moment to look at the numbers yourself and decide where you stand, starting with the 1 key reward and 4 important warning signs Looking for more investment ideas? If D-Wave Quantum has caught your attention, do not stop here. Cast the net wider and compare it with other opportunities that might fit your style. Target potential mispricings by scanning companies that screen as 49 high quality undervalued stocks and see which ones deserve a closer look. Build a steadier income stream by checking out businesses in the 15 dividend fortresses that focus on higher yielding payouts. Prioritise financial strength by reviewing companies in the solid balance sheet and fundamentals stocks screener (42 results) and see which balance sheets you are most comfortable backing. This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material.

Simply Wall St has no position in any stocks mentioned.New: Manage All Your Stock Portfolios in One PlaceWe've created the ultimate portfolio companion for stock investors, and it's free.• Connect an unlimited number of Portfolios and see your total in one currency• Be alerted to new Warning Signs or Risks via email or mobile• Track the Fair Value of your stocksTry a Demo Portfolio for FreeHave feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team@simplywallst.comAbout NYSE:QBTSD-Wave QuantumEngages in the development and delivery of quantum computing systems, software, and services worldwide.See The Free Research ReportFlawless balance sheet with slight risk.See The Free Research ReportSimilar CompaniesNasdaqGS:GOOGLAlphabetNasdaqGS:MSFTMicrosoftMarket InsightsWhy international stocks are starting to outpace the U.S.Stella OngWhat the next 25 years will look like 🔮Richard BowmanThree contrarian investing ideas for a new marketStella OngAdvertisement Weekly Picksstuart_roberts on Upside Gold · 23 days agoAn Undervalued 3.3Moz Gold Project in CanadaFair Value:CA$5.0776.3% undervalued143 followersusers have followed this narrative·1 commentusers have commented on this narrative·24 likesusers have liked this narrativeClive_Thompson on Hermès International Société en commandite par actions · 3 days agoHermès - Expensive bags, and expensive stock. And the story of €14 billion of bearer shares gone missing. Fair Value:€1.51k22.4% overvalued3 followersusers have followed this narrative·0 commentsusers have commented on this narrative·7 likesusers have liked this narrativeSUsuperbullll on Cheniere Energy · 11 days agoCheniere Energy (LNG) — The Toll Road That Geopolitics Just Made More ValuableFair Value:US$320.9421.6% undervalued5 followersusers have followed this narrative·0 commentsusers have commented on this narrative·2 likesusers have liked this narrativeSASalman2415 on GNG Electronics · 16 days agoStrong execution in a growing category, but long‑term value hinges on cash‑flow disciplineFair Value:₹135.87177.0% overvalued5 followersusers have followed this narrative·1 commentusers have commented on this narrative·1 likeusers have liked this narrativeRecently Updated NarrativesBOBonSquid88 on Micron Technology · 1 day agoMicron Technology will experience a robust 16.5% revenue growthFair Value:US$55016.1% undervalued40 followersusers have followed this narrative·0 commentsusers have commented on this narrative·0 likesusers have liked this narrativeVEVestra on Red Cat Holdings · 1 day agoRed Cat Holdings (RCAT): The Small-Drone Contender Bracing for Q4 ImpactFair Value:US$18.458.0% undervalued1 followerusers have followed this narrative·0 commentsusers have commented on this narrative·0 likesusers have liked this narrativeVEVestra on Micron Technology · 1 day agoMicron Technology Inc. (MU): The "Silicon Gold" Rush Reaches a Fever PitchFair Value:US$4956.7% undervalued9 followersusers have followed this narrative·0 commentsusers have commented on this narrative·0 likesusers have liked this narrativePopular NarrativesKAkabz2342 on Nu Holdings · 25 days agoNu holdings will continue to disrupt the South American banking marketFair Value:US$64.377.8% undervalued54 followersusers have followed this narrative·3 commentsusers have commented on this narrative·29 likesusers have liked this narrativeYAYang_ on SoFi Technologies · 10 days agoSoFi Technologies: The Apex Aggregator and the Infrastructure of the Modern Financial SystemFair Value:US$22.9824.4% undervalued45 followersusers have followed this narrative·0 commentsusers have commented on this narrative·33 likesusers have liked this narrativeANAnalystConsensusTarget on Microsoft · 14 days agoAnalyst Commentary Highlights Microsoft AI Momentum and Upward Valuation Amid Growth and Competitive RisksFair Value:US$59633.0% undervalued1312 followersusers have followed this narrative·2 commentsusers have commented on this narrative·10 likesusers have liked this narrativeTrending DiscussionLIlionog on Upside Gold · 8 days agoWhy do all this research and not invest in the stock yourself?2|0AGAgricola on Cassiar Gold · 7 days agoYes, they were noticed by some large investors at PDAC and they moved in and bought the stock there...1|0DAdaqui_luis on Corticeira Amorim S.G.P.S · 7 days agoGreat analysis on a great and solid company with a dominant position in the Cork Market.