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A high debt to equity ratio generally means that a company has been aggressive in financing its growth with debt. This can result in volatile earnings as a result of the additional interest expense.
The historical rank and industry rank for D-Wave Quantum's Debt-to-Equity or its related term are showing as below:
QBTS'
s Debt-to-Equity Range Over the Past 10 Years
Min: -32.77 Med: -1.44 Max: 5.4
Current: 0.04
During the past 6 years, the highest Debt-to-Equity Ratio of D-Wave Quantum was 5.40. The lowest was -32.77. And the median was -1.44.
QBTS's Debt-to-Equity is ranked better than 86.2% of 2217
companies
in the Hardware industry
Industry Median: 0.27
vs QBTS: 0.04
Because a company can increase its ROE % by having more financial leverage, it is important to watch the leverage ratio when investing in high ROE % companies.
D-Wave Quantum Debt-to-Equity Related Terms
D-Wave Quantum Debt-to-Equity Historical Data
* Premium members only.
The historical data trend for D-Wave Quantum's Debt-to-Equity can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
QBTS vs RGTI, QUBT, BRAI: Debt-to-Equity Comparison
For the Computer Hardware subindustry, D-Wave Quantum's Debt-to-Equity, along with its competitors' market caps and Debt-to-Equity data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
D-Wave Quantum Debt-to-Equity vs Hardware Industry
For the Hardware industry and Technology sector, D-Wave Quantum's Debt-to-Equity distribution charts can be found below:
* The bar in red indicates where D-Wave Quantum's Debt-to-Equity falls into.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
D-Wave Quantum (QBTS) has a Debt-to-Equity of 0.04 as of Mar. 2026. Debt-to-Equity ratio represents the ratio of total debt to total company equity. View historical data on D-Wave Quantum and its competitors. According to the industry distribution chart, D-Wave Quantum ranks #306 out of 2217 companies in the Hardware industry, placing it in the top 13.8%.
Is D-Wave Quantum's Debt-to-Equity too high?
D-Wave Quantum's current Debt-to-Equity is 0.04. The Hardware industry median Debt-to-Equity is 0.27. D-Wave Quantum's value of 0.04 is 85.2% below this industry median. Based on the distribution chart, D-Wave Quantum ranks #306 out of 2217 companies in the Hardware industry, which is in the top quartile — a strong position relative to peers. Overall, D-Wave Quantum has a GF Score™ of 63/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does D-Wave Quantum's Debt-to-Equity compare to RGTI and QUBT?
According to the Hardware industry distribution chart, D-Wave Quantum ranks #306 out of 2217 companies for Debt-to-Equity. This places D-Wave Quantum in the top 14% of its industry — outperforming the majority of peers. The industry median Debt-to-Equity is 0.27. D-Wave Quantum's value of 0.04 is 85.2% below this benchmark. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Debt-to-Equity for a Hardware company?
The median Debt-to-Equity among Hardware companies is 0.27, based on 2,217 companies in the industry. Companies in the top quartile (top 25%) have a Debt-to-Equity significantly above this median, while those in the bottom quartile fall well below. However, Debt-to-Equity should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. D-Wave Quantum's current Debt-to-Equity of 0.04 is 85.2% below the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Debt-to-Equity mean?
A high Debt-to-Equity can signal that a stock is expensive relative to its fundamentals. Debt-to-Equity ratio represents the ratio of total debt to total company equity. View historical data on D-Wave Quantum and its competitors. For the Hardware industry, the median Debt-to-Equity is 0.27 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. D-Wave Quantum's current Debt-to-Equity is 0.04. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is D-Wave Quantum stock overvalued right now?
Based on GuruFocus' analysis, D-Wave Quantum (QBTS) is currently considered Significantly Overvalued. The stock's GF Value™ is $2.81, compared to a current price of $19.51 — trading 594.3% above its estimated fair value. The current Debt-to-Equity is 0.04 and 85.2% below the Hardware industry median of 0.27. D-Wave Quantum's overall GF Score™ is 63/100 with 4 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Debt-to-Equity calculated?
Debt-to-Equity is calculated from a company's financial statements. For D-Wave Quantum (QBTS), the current Debt-to-Equity is 0.04 as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is D-Wave Quantum (QBTS) Overvalued in 2026?
Based on GuruFocus' analysis, D-Wave Quantum stock appears to be overvalued.
The current stock price of $19.51 is trading 594.3% above its estimated GF Value™ of $2.81.
GuruFocus considers D-Wave Quantum to be Significantly Overvalued.
Key valuation signals for QBTS:
Debt-to-Equity: 0.04
GF Value™: $2.81 vs. price of $19.51 (594.3% above fair value)
Industry Position: 85.2% below the Hardware median (#306 of 2217)
No single metric tells the full story. See the QBTS stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
D-Wave Quantum Inc is in the development and delivery of quantum computing systems, software, and services, and it is the commercial supplier of quantum computers and the only company building both annealing quantum computers and gate-model quantum computers. It delivers customer value with practical quantum applications for problems as diverse as logistics, artificial intelligence, materials sciences, drug discovery, scheduling, cybersecurity, fault detection, and financial modeling. Its annealing quantum computers are accessible through the company's LeapTM cloud service.
63GF Score
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Debt-to-Equity is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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