D-Wave QuantumQBTS +3.88%64 Market Cap is $8,431.33 Mil as of Jun. 27, 2026. GuruFocus rates QBTS with a GF Score™ of 64/100 and a GF Value™ of $2.45 (Significantly Overvalued). The stock has 4 warning signs investors should review. Among 2,515 Hardware companies, D-Wave Quantum ranks better than 93.48% on this metric.
Market cap is the total market value to buy the whole company. It is equal to the share price times the number of Shares Outstanding (EOP). D-Wave Quantum's share price for the quarter that ended in Mar. 2026 was $14.43. D-Wave Quantum's Shares Outstanding (EOP) for the quarter that ended in Mar. 2026 was 370.04 Mil. Therefore, D-Wave Quantum's market cap for the quarter that ended in Mar. 2026 was $5,339.65 Mil.
D-Wave Quantum's quarterly market cap
increased
from Sep. 2025 ($8,633.28 Mil) to Dec. 2025 ($9,381.10 Mil) but then
declined
from Dec. 2025 ($9,381.10 Mil) to Mar. 2026 ($5,339.65 Mil).
D-Wave Quantum's annual market cap
increased
from Dec. 2023 ($141.80 Mil) to Dec. 2024 ($2,239.41 Mil) and
increased
from Dec. 2024 ($2,239.41 Mil) to Dec. 2025 ($9,381.10 Mil).
Enterprise Value is the theoretical takeover price. It is more comprehensive than market capitalization (market cap), which only includes common equity. Enterprise Value is calculated as the market cap plus debt and minority interest and preferred shares, minus total cash and cash equivalents. D-Wave Quantum's Enterprise Value for Today is $7,889.76 Mil.
D-Wave Quantum (NYSE:QBTS) Market Cap Explanation
Market cap is not the real price you pay for a company. If you buy the company and become its owner, you become the owner of the cash the company has, and you also assume the companys debt. The real price you pay is the Enterprise Value.
Warren Buffett uses the ratio of total market cap of all public traded companies over GDP to measure if the market is expensive. As of April 2012, the US total market cap is about $14.7 trillion, while the US GDP is about $15 trillion. The market was modestly overvalued.
D-Wave Quantum Market Cap Related Terms
D-Wave Quantum Market Cap Historical Data
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The historical data trend for D-Wave Quantum's Market Cap 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.
For the Computer Hardware subindustry, D-Wave Quantum's Market Cap, along with its competitors' market caps and Market Cap 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 Market Cap vs Hardware Industry
For the Hardware industry and Technology sector, D-Wave Quantum's Market Cap distribution charts can be found below:
* The bar in red indicates where D-Wave Quantum's Market Cap falls into.
Market cap is the short version of market capitalization. It is the total market value to buy the whole company. It is equal to the share price times the number of shares outstanding.
D-Wave Quantum's Market Cap for the fiscal year that ended in Dec. 2025 is calculated as
* 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 Market Cap of $8,431.33 Mil as of Jun. 27, 2026. Market cap equals the total value of a company's shares: price times shares outstanding. View historical data on D-Wave Quantum and its competitors. According to the industry distribution chart, D-Wave Quantum ranks #164 out of 2515 companies in the Hardware industry, placing it in the top 6.5%.
Is D-Wave Quantum's Market Cap too high?
D-Wave Quantum's current Market Cap is $8,431.33 Mil. The Hardware industry median Market Cap is 209.38. D-Wave Quantum's value of $8,431.33 Mil is 3926.9% above this industry median. Based on the distribution chart, D-Wave Quantum ranks #164 out of 2515 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 64/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does D-Wave Quantum's Market Cap compare to RGTI and QUBT?
According to the Hardware industry distribution chart, D-Wave Quantum ranks #164 out of 2515 companies for Market Cap. This places D-Wave Quantum in the top 7% of its industry — outperforming the majority of peers. The industry median Market Cap is 209.38. D-Wave Quantum's value of $8,431.33 Mil is 3926.9% above this benchmark. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Market Cap for a Hardware company?
The median Market Cap among Hardware companies is 209.38, based on 2,515 companies in the industry. Companies in the top quartile (top 25%) have a Market Cap significantly above this median, while those in the bottom quartile fall well below. However, Market Cap should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. D-Wave Quantum's current Market Cap of $8,431.33 Mil is 3926.9% above 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 Market Cap mean?
A high Market Cap can signal that a stock is expensive relative to its fundamentals. Market cap equals the total value of a company's shares: price times shares outstanding. View historical data on D-Wave Quantum and its competitors. For the Hardware industry, the median Market Cap is 209.38 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. D-Wave Quantum's current Market Cap is $8,431.33 Mil. 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 $2.45, compared to a current price of $22.76 — trading 829% above its estimated fair value. The current Market Cap is $8,431.33 Mil and 3926.9% above the Hardware industry median of 209.38. D-Wave Quantum's overall GF Score™ is 64/100 with 4 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Market Cap calculated?
Market Cap is calculated from a company's financial statements. For D-Wave Quantum (QBTS), the current Market Cap is $8,431.33 Mil as of Jun. 27, 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 $22.76 is trading 829% above its estimated GF Value™ of $2.45.
GuruFocus considers D-Wave Quantum to be Significantly Overvalued.
Key valuation signals for QBTS:
Market Cap: $8,431.33 Mil
GF Value™: $2.45 vs. price of $22.76 (829% above fair value)
Industry Position: 3926.9% above the Hardware median (#164 of 2515)
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.
64GF Score
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