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Quantum computing

The 9 companies in this industry listed on the NYSE and Nasdaq are worth $34 bn combined; the largest are IonQ (IONQ), Quantinuum Inc. (QNT) and D-Wave Quantum (QBTS). For each one: what it does, revenue, margin, free cash flow over the last five years and a score from 0 to 10.

Data as of October 2026

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9 companies value 34 bn revenue 0.4 bn margin -633.7% free cash flow -1.1 bn avg. score 0.7
IONQ holds 34.8% of the group's value, 1.3x the runner-up
Rank Ticker Company Share Value Revenue Margin FCF 5 years FCF/px Yield What it does · why it is here
1 IONQ IonQ
United States · score 0.0
35% 12 bn 0.3 bn -553.3% -0.5 bn -4.1% — Trapped-ion quantum computing · Leader in trapped-ion quantum computing. Still before meaningful revenue: a speculative bet
2 QNT Quantinuum Inc.
United States · score 0.0
27% 9.2 bn 0.0 bn -838.2% -0.3 bn -3.2% — Quantum computing · Colorado — revenue of $23m
3 QBTS D-Wave Quantum
United States · score 0.0
13% 4.4 bn 0.0 bn -20x -0.1 bn -2.7% — Quantum annealing computing · Quantum annealing computing, already sold as a service
4 RGTI Rigetti Computing
United States · score 0.0
12% 3.9 bn 0.0 bn -18x -0.1 bn -2.2% — Superconducting quantum computing · Superconducting quantum computing; the same very-high-risk caveat
5 INFQ Infleqtion, Inc.
United States · score 0.5
6% 2.0 bn 0.0 bn -174.4% -0.0 bn -1.0% — Quantum sensors, computing and software · Colorado — revenue of $41m
6 QUBT Quantum Computing Inc.
United States · score 0.0
4% 1.5 bn 0.0 bn -152.5% -0.1 bn -3.5% — Photonics and quantum computing · Photonic quantum chips and sensors
7 XNDU Xanadu Quantum Technologies Ltd
Canada · score 0.0
3% 0.8 bn 0.0 bn -16x -0.1 bn -9.5% — Photonic quantum computing · Canada — revenue of $7m
8 QNC Quantum eMotion Corp
Canada · score 0.8
1% 0.3 bn — — 0.0 bn -1.1% — Quantum-mechanical random number generation, from Canada · Canada
9 HQ Horizon Quantum Holdings Ltd.
Singapore · score 5.0
— — — — — — — — Programming software for quantum computers, from Singapore · Singapore

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What this is. A catalogue, not a guide. Every industry with stocks listed on the NYSE or NASDAQ, the companies contending for its leadership, what each one does according to its own annual report, and the balance sheet it filed with the SEC.

The score runs from 0 to 10 and compares each company with every other one in the almanac on cash generation, profitability, debt, dividends and consistency over the last five years. The higher it is, the better the company fares in that comparison. Curious how much each part weighs? Ask at the bottom of the page.

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