D-Wave Quantum Valuation

Is RQ0 undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

0/6

Valuation Score 0/6

Below Fair Value
Significantly Below Fair Value
Price-To-Sales vs Peers
Price-To-Sales vs Industry
Price-To-Sales vs Fair Ratio
Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of RQ0 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: Insufficient data to calculate RQ0's fair value for valuation analysis.

Significantly Below Fair Value: Insufficient data to calculate RQ0's fair value for valuation analysis.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for RQ0?

Other financial metrics that can be useful for relative valuation.

The above table shows the n/a ratio for RQ0. This is calculated by dividing RQ0's market cap by their current preferred multiple.
What is RQ0's n/a Ratio?
n/a	0x
n/a	n/a
Market Cap	US$209.49m

RQ0 key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue	23.8x
Enterprise Value/EBITDA	-3.4x
PEG Ratio	n/a

Price to Sales Ratio vs Peers

How does RQ0's PS Ratio compare to its peers?

The above table shows the PS ratio for RQ0 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
Company	Forward PS	Estimated Growth	Market Cap
Peer Average	1.7x
OSP2 USU Software	1.7x	8.2%	€227.8m
FAA Fabasoft	2x	9.9%	€161.7m
SJJ Serviceware	1.4x	8.8%	€140.7m
BSS Beta Systems Software	1.7x	9.1%	€120.5m
RQ0 D-Wave Quantum	20.7x	50.3%	€209.5m

Price-To-Sales vs Peers: RQ0 is expensive based on its Price-To-Sales Ratio (20.7x) compared to the peer average (1.7x).

Price to Earnings Ratio vs Industry

How does RQ0's PE Ratio compare vs other companies in the DE Software Industry?

0 Companies	Price / Earnings	Estimated Growth	Market Cap
Industry Avg.	n/a	39.5%
	n/a	n/a	n/a

Fetching data

0 Companies	Price / Earnings	Estimated Growth	Market Cap
Industry Avg.	n/a	39.5%
	n/a	n/a	n/a

No more companies

Price-To-Sales vs Industry: RQ0 is expensive based on its Price-To-Sales Ratio (20.7x) compared to the German Software industry average (1.9x).

Price to Sales Ratio vs Fair Ratio

What is RQ0's PS Ratio compared to its Fair PS Ratio? This is the expected PS Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

RQ0 PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio	20.7x
Fair PS Ratio	11.1x

Price-To-Sales vs Fair Ratio: RQ0 is expensive based on its Price-To-Sales Ratio (20.7x) compared to the estimated Fair Price-To-Sales Ratio (11.1x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst RQ0 forecast and predictions for the stock price in 12 month’s time.
Date	Share Price	Average 1Y Price Target	Dispersion	High	Low	1Y Actual price	Analysts
Current	€0.94	€2.21 +135.8%	23.6%	€2.77	€1.39	n/a	7
Oct ’25	€0.85	€2.19 +158.1%	23.6%	€2.74	€1.37	n/a	7
Sep ’25	€0.87	€2.19 +150.4%	23.6%	€2.74	€1.37	n/a	7
Aug ’25	€0.91	€2.77 +203.3%	15.4%	€3.69	€2.30	n/a	7
Jul ’25	€0.99	€2.79 +183.2%	16.7%	€3.73	€2.33	n/a	6
Jun ’25	€1.22	€2.77 +127.2%	16.7%	€3.70	€2.31	n/a	6
May ’25	€1.20	€2.92 +143.7%	19.7%	€3.68	€2.30	n/a	6
Apr ’25	€1.93	€2.70 +40.0%	22.9%	€3.72	€1.86	n/a	5
Mar ’25	€1.55	€2.35 +51.8%	48.2%	€4.61	€1.61	n/a	5
Feb ’25	€0.85	€2.35 +175.5%	48.2%	€4.61	€1.61	n/a	5
Jan ’25	€0.79	€2.48 +213.0%	43.2%	€4.60	€1.84	n/a	5
Dec ’24	€0.70	€2.48 +253.1%	43.2%	€4.60	€1.84	n/a	5
Nov ’24	€0.81	€3.83 +374.6%	27.8%	€5.46	€2.73	€0.94	5
Oct ’24	€0.89	€3.83 +331.3%	27.8%	€5.46	€2.73	€0.85	5
Sep ’24	€1.02	€3.83 +275.8%	27.8%	€5.46	€2.73	€0.87	5
Aug ’24	€2.36	€3.16 +34.1%	55.7%	€5.42	€0.90	€0.91	5
Jul ’24	€1.90	€1.76 -7.6%	34.9%	€2.78	€0.93	€0.99	5
Jun ’24	€1.14	€1.76 +54.3%	34.9%	€2.78	€0.93	€1.22	5
May ’24	€0.44	€1.83 +318.2%	31.6%	€2.74	€0.91	€1.20	5
Apr ’24	€0.47	€5.72 +1,122.1%	35.9%	€9.23	€3.69	€1.93	5
Mar ’24	€0.63	€5.78 +824.6%	35.9%	€9.32	€3.73	€1.55	5
Feb ’24	n/a	€6.43 0%	28.6%	€9.19	€3.68	€0.85	5
Jan ’24	n/a	€8.30 0%	17.4%	€9.65	€5.79	€0.79	5
Dec ’23	n/a	€8.30 0%	17.4%	€9.65	€5.79	€0.70	5
Nov ’23	n/a	€14.74 0%	19.9%	€20.47	€12.28	€0.81	5

Analyst Forecast: Target price is more than 20% higher than the current share price, but analysts are not within a statistically confident range of agreement.