IonQ (XSWX:IONQ) Beneish M-Score: 2.62 (As of Jul. 04, 2026)


XSWX:IONQ IonQ Inc XSWX:IONQ
52 GF Score
Price CHF40.79
GF Value CHF72.74
! 4 Warning Signs
View Full Analysis

What is IonQ Beneish M-Score?

IonQ XSWX:IONQ 52 Beneish M-Score is 2.62 as of Jul. 04, 2026. GuruFocus rates XSWX:IONQ with a GF Score™ of 52/100 and a GF Value™ of CHF72.74. The stock has 4 warning signs investors should review. Among 2,405 Hardware companies, IonQ ranks worse than 98.05% on this metric.

The zones of discrimination for M-Score is as such:

An M-Score of equal or less than -1.78 suggests that the company is unlikely to be a manipulator.
An M-Score of greater than -1.78 signals that the company is likely to be a manipulator.

Warning Sign:

Beneish M-Score 2.62 higher than -1.78, which implies that the company might have manipulated its financial results.

The historical rank and industry rank for IonQ's Beneish M-Score or its related term are showing as below:

XSWX:IONQ' s Beneish M-Score Range Over the Past 10 Years
Min: -3.46   Med: -1.49   Max: 27.96
Current: 2.62

During the past 6 years, the highest Beneish M-Score of IonQ was 27.96. The lowest was -3.46. And the median was -1.49.

IonQ Beneish M-Score Historical Data

* Premium members only.

The historical data trend for IonQ's Beneish M-Score 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.

IonQ Beneish M-Score Chart

IonQ Annual Data
Trend Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Beneish M-Score
Get a 7-Day Free Trial 0.00 1.11 -1.49 -3.21 2.00

IonQ Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
Beneish M-Score Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only -3.14 -1.83 0.62 2.00 2.62

XSWX:IONQ vs : Beneish M-Score Comparison

For the Computer Hardware subindustry, IonQ's Beneish M-Score, along with its competitors' market caps and Beneish M-Score 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.

IonQ Beneish M-Score vs Hardware Industry

For the Hardware industry and Technology sector, IonQ's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where IonQ's Beneish M-Score falls into.


XSWX:IONQ
52GF Score
IonQ Inc XSWX:IONQ
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

IonQ Beneish M-Score Calculation

The M-score was created by Professor Messod Beneish. Instead of measuring the bankruptcy risk (Altman Z-Score) or business trend (Piotroski F-Score), M-score can be used to detect the risk of earnings manipulation. This is the original research paper on M-score.

The M-Score Variables:

The M-score of IonQ for today is based on a combination of the following eight different indices:

M=-4.84+0.92 * DSRI+0.528 * GMI+0.404 * AQI+0.892 * SGI+0.115 * DEPI
=-4.84+0.92 * 1.9802+0.528 * 1.4483+0.404 * 3.5333+0.892 * 4.3458+0.115 * 0.599
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 0.7954+4.679 * -0.050984-0.327 * 0.3786
=2.62

* 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.

This Year (Mar26) TTM:Last Year (Mar25) TTM:
Total Receivables was CHF117.2 Mil.
Revenue was 64.668 + 61.89 + 39.866 + 20.694 = CHF187.1 Mil.
Gross Profit was 15.414 + 18.297 + 18.613 + 12.367 = CHF64.7 Mil.
Total Current Assets was CHF2,302.9 Mil.
Total Assets was CHF6,693.7 Mil.
Property, Plant and Equipment(Net PPE) was CHF155.8 Mil.
Depreciation, Depletion and Amortization(DDA) was CHF118.6 Mil.
Selling, General, & Admin. Expense(SGA) was CHF384.2 Mil.
Total Current Liabilities was CHF163.9 Mil.
Long-Term Debt & Capital Lease Obligation was CHF21.3 Mil.
Net Income was 805.36 + 753.667 + -1054.955 + -176.838 = CHF327.2 Mil.
Non Operating Income was 1041.501 + 950.366 + -882.827 + -39.345 = CHF1,069.7 Mil.
Cash Flow from Operations was -151.024 + -74.51 + -123.078 + -52.574 = CHF-401.2 Mil.
 Total Receivables was CHF13.6 Mil.
Revenue was 7.566 + 11.71 + 12.4 + 11.381 = CHF43.1 Mil.
Gross Profit was 3.251 + 6.665 + 5.885 + 5.758 = CHF21.6 Mil.
Total Current Assets was CHF637.0 Mil.
Total Assets was CHF850.1 Mil.
Property, Plant and Equipment(Net PPE) was CHF60.9 Mil.
Depreciation, Depletion and Amortization(DDA) was CHF21.3 Mil.
Selling, General, & Admin. Expense(SGA) was CHF111.1 Mil.
Total Current Liabilities was CHF48.4 Mil.
Long-Term Debt & Capital Lease Obligation was CHF13.7 Mil.

1. DSRI = Days Sales in Receivables Index

Measured as the ratio of Revenue in Total Receivables in year t to year t-1.

A large increase in DSR could be indicative of revenue inflation.

DSRI=(Receivables_t / Revenue_t) / (Receivables_t-1 / Revenue_t-1)
=(117.225 / 187.118) / (13.622 / 43.057)
=0.626476 / 0.316371
=1.9802

2. GMI = Gross Margin Index

Measured as the ratio of gross margin in year t-1 to gross margin in year t.

Gross margin has deteriorated when this index is above 1. A firm with poorer prospects is more likely to manipulate earnings.

GMI=GrossMargin_t-1 / GrossMargin_t
=(GrossProfit_t-1 / Revenue_t-1) / (GrossProfit_t / Revenue_t)
=(21.559 / 43.057) / (64.691 / 187.118)
=0.500708 / 0.345723
=1.4483

3. AQI = Asset Quality Index

AQI is the ratio of asset quality in year t to year t-1.

Asset quality is measured as the ratio of non-current assets other than Property, Plant and Equipment to Total Assets.

AQI=(1 - (CurrentAssets_t + PPE_t) / TotalAssets_t) / (1 - (CurrentAssets_t-1 + PPE_t-1) / TotalAssets_t-1)
=(1 - (2302.918 + 155.808) / 6693.713) / (1 - (636.984 + 60.876) / 850.074)
=0.632681 / 0.17906
=3.5333

4. SGI = Sales Growth Index

Ratio of Revenue in year t to sales in year t-1.

Sales growth is not itself a measure of manipulation. However, growth companies are likely to find themselves under pressure to manipulate in order to keep up appearances.

SGI=Sales_t / Sales_t-1
=Revenue_t / Revenue_t-1
=187.118 / 43.057
=4.3458

5. DEPI = Depreciation Index

Measured as the ratio of the rate of Depreciation, Depletion and Amortization in year t-1 to the corresponding rate in year t.

DEPI greater than 1 indicates that assets are being depreciated at a slower rate. This suggests that the firm might be revising useful asset life assumptions upwards, or adopting a new method that is income friendly.

DEPI=(Depreciation_t-1 / (Depreciaton_t-1 + PPE_t-1)) / (Depreciation_t / (Depreciaton_t + PPE_t))
=(21.26 / (21.26 + 60.876)) / (118.572 / (118.572 + 155.808))
=0.258839 / 0.432145
=0.599

Note: If the Depreciation, Depletion and Amortization data is not available, we assume that the depreciation rate is constant and set the Depreciation Index to 1.

6. SGAI = Sales, General and Administrative expenses Index

The ratio of Selling, General, & Admin. Expense(SGA) to Sales in year t relative to year t-1.

SGA expenses index > 1 means that the company is becoming less efficient in generate sales.

SGAI=(SGA_t / Sales_t) / (SGA_t-1 /Sales_t-1)
=(384.17 / 187.118) / (111.145 / 43.057)
=2.053089 / 2.581346
=0.7954

7. LVGI = Leverage Index

The ratio of total debt to Total Assets in year t relative to yeat t-1.

An LVGI > 1 indicates an increase in leverage

LVGI=((LTD_t + CurrentLiabilities_t) / TotalAssets_t) / ((LTD_t-1 + CurrentLiabilities_t-1) / TotalAssets_t-1)
=((21.278 + 163.887) / 6693.713) / ((13.739 + 48.379) / 850.074)
=0.027663 / 0.073074
=0.3786

8. TATA = Total Accruals to Total Assets

Total accruals calculated as the change in working capital accounts other than cash less depreciation.

TATA=(IncomefromContinuingOperations_t - CashFlowsfromOperations_t) / TotalAssets_t
=(NetIncome_t - NonOperatingIncome_t - CashFlowsfromOperations_t) / TotalAssets_t
=(327.234 - 1069.695 - -401.186) / 6693.713
=-0.050984

An M-Score of equal or less than -1.78 suggests that the company is unlikely to be a manipulator. An M-Score of greater than -1.78 signals that the company is likely to be a manipulator.

IonQ has a M-score of 2.62 signals that the company is likely to be a manipulator.

Frequently Asked Questions Learn more about Beneish M-Score →
What does a Beneish M-Score of 2.62 mean?
IonQ (XSWX:IONQ) has a Beneish M-Score of 2.62 as of Jul. 04, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on IonQ and its competitors. According to the industry distribution chart, IonQ ranks #2358 out of 2405 companies in the Hardware industry, placing it in the top 98%.
Is IonQ's Beneish M-Score too high?
IonQ's current Beneish M-Score is 2.62. Based on the distribution chart, IonQ ranks #2358 out of 2405 companies in the Hardware industry, which is in the bottom quartile relative to peers. Overall, IonQ has a GF Score™ of 52/100, reflecting its overall financial health beyond just this single metric.
How does IonQ's Beneish M-Score compare to ?
According to the Hardware industry distribution chart, IonQ ranks #2358 out of 2405 companies for Beneish M-Score. This places IonQ in the lower half of its industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Beneish M-Score for a Hardware company?
A good Beneish M-Score depends on the Hardware industry context. However, Beneish M-Score should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Beneish M-Score mean?
A high Beneish M-Score can signal that a stock is expensive relative to its fundamentals. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on IonQ and its competitors. IonQ's current Beneish M-Score is 2.62. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is IonQ stock overvalued right now?
IonQ (XSWX:IONQ) has a current Beneish M-Score of 2.62. The stock's GF Value™ is CHF72.74, compared to a current price of CHF40.79 — trading 43.9% below its estimated fair value. The current Beneish M-Score is 2.62. IonQ's overall GF Score™ is 52/100 with 4 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Beneish M-Score calculated?
Beneish M-Score is calculated from a company's financial statements. For IonQ (XSWX:IONQ), the current Beneish M-Score is 2.62 as of Jul. 04, 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 IonQ (XSWX:IONQ) Overvalued in 2026?

Based on GuruFocus' analysis, IonQ stock appears to be undervalued. The current stock price of CHF40.79 is trading 43.9% below its estimated GF Value™ of CHF72.74.

Key valuation signals for XSWX:IONQ:

  • Beneish M-Score: 2.62
  • GF Value™: CHF72.74 vs. price of CHF40.79 (43.9% below fair value)
  • GF Score™: 52/100 with 4 warning signs

No single metric tells the full story. See the XSWX:IONQ stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

IonQ Business Description

Comparable Companies
Address 4505 Campus Drive, College Park, MD, USA, 20740
IonQ Inc sells access to several quantum computers of various qubit capacities and is in the process of researching and developing technologies for quantum computers with increasing computational capabilities. The company currently makes access to its quantum computers available via cloud platforms and also to select customers via its own cloud service. This cloud-based approach enables the broad availability of quantum-computing-as-a-service (QCaaS). The company derives its revenue from its quantum-computing-as-a-service arrangements, consulting services related to co-developing algorithms on company's quantum computing systems and contracts associated with the design, development, and construction of specialized quantum computing systems together with related services.
52GF Score

Get the complete analysis for XSWX:IONQ

Beneish M-Score is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

CHF40.79
Price
CHF72.74
GF Value