D-Wave QuantumQBTS +3.88%64 Pretax Margin % is -1,637.82% as of Mar. 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 2,472 Hardware companies, D-Wave Quantum ranks worse than 99.56% on this metric.
Pre-Tax margin is calculated as Pre-Tax Income divided by its Revenue. D-Wave Quantum's Pre-Tax Income for the
three
months ended in Mar. 2026 was $-46.81 Mil. D-Wave Quantum's Revenue for the
three
months ended in Mar. 2026 was $2.86 Mil. Therefore, D-Wave Quantum's pretax margin for the quarter that ended in Mar. 2026 was -1,637.82%.
The historical rank and industry rank for D-Wave Quantum's Pretax Margin % or its related term are showing as below:
QBTS'
s Pretax Margin % Range Over the Past 10 Years
Min: -3185.87 Med: -846.56 Max: -425.72
Current: -3185.87
QBTS's Pretax Margin % is ranked worse than 99.56% of 2472
companies
in the Hardware industry
Industry Median: 3.575
vs QBTS: -3185.87
The pretax margin, as know as pretax profit margin, is widely used to measure the operating efficiency of a company before deducting taxes.
The pretax margin is sometimes preferred over the net margin as tax expenditures can make profitability comparisons between companies misleading.
It is a useful tool to compare companies operating in the same sector and less effective when comparing companies from other sectors as each industry generally has different operating expenses and sales patterns.
The long term trend of the pretax margin is a good indicator of the competitiveness and health of the business.
D-Wave Quantum Pretax Margin % Related Terms
D-Wave Quantum Pretax Margin % Historical Data
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The historical data trend for D-Wave Quantum's Pretax Margin % 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: Pretax Margin % Comparison
For the Computer Hardware subindustry, D-Wave Quantum's Pretax Margin %, along with its competitors' market caps and Pretax Margin % 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 Pretax Margin % vs Hardware Industry
For the Hardware industry and Technology sector, D-Wave Quantum's Pretax Margin % distribution charts can be found below:
* The bar in red indicates where D-Wave Quantum's Pretax Margin % 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 Pretax Margin % of -1,637.82% as of Mar. 2026. Pre-Tax margin is the ratio of total pre-tax income to net sales. View historical data on D-Wave Quantum and its competitors. According to the industry distribution chart, D-Wave Quantum ranks #2461 out of 2472 companies in the Hardware industry, placing it in the top 99.6%.
Is D-Wave Quantum's Pretax Margin % too high?
D-Wave Quantum's current Pretax Margin % is -1,637.82%. Based on the distribution chart, D-Wave Quantum ranks #2461 out of 2472 companies in the Hardware industry, which is in the bottom quartile 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 Pretax Margin % compare to RGTI and QUBT?
According to the Hardware industry distribution chart, D-Wave Quantum ranks #2461 out of 2472 companies for Pretax Margin %. This places D-Wave Quantum in the lower half of its industry. The industry median Pretax Margin % is 3.58. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Pretax Margin % for a Hardware company?
The median Pretax Margin % among Hardware companies is 3.58, based on 2,472 companies in the industry. Companies in the top quartile (top 25%) have a Pretax Margin % significantly above this median, while those in the bottom quartile fall well below. However, Pretax Margin % 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 Pretax Margin % mean?
A high Pretax Margin % can signal that a stock is expensive relative to its fundamentals. Pre-Tax margin is the ratio of total pre-tax income to net sales. View historical data on D-Wave Quantum and its competitors. For the Hardware industry, the median Pretax Margin % is 3.58 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. D-Wave Quantum's current Pretax Margin % is -1,637.82%. 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 Pretax Margin % is -1,637.82%. 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 Pretax Margin % calculated?
Pretax Margin % is calculated from a company's financial statements. For D-Wave Quantum (QBTS), the current Pretax Margin % is -1,637.82% 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 $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:
Pretax Margin %: -1,637.82%
GF Value™: $2.45 vs. price of $22.76 (829% above fair value)
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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