QBTS (D-Wave Quantum) ROCE %: -18.02% (As of Mar. 2026)


QBTS D-Wave Quantum Inc QBTS
64 GF Score
Price $22.76
GF Value $2.45
Valuation Significantly Overvalued
! 4 Warning Signs
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What is D-Wave Quantum ROCE %?

D-Wave Quantum QBTS +3.88% 64 ROCE % is -18.02% 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.

ROCE % measures how well a company generates profits from its capital. It is calculated as EBIT divided by Capital Employed, where Capital Employed is calculated as Total Assets minus Total Current Liabilities. D-Wave Quantum's annualized ROCE % for the quarter that ended in Mar. 2026 was -18.02%.

D-Wave Quantum  (NYSE:QBTS) ROCE % Explanation

ROCE % can be especially useful when comparing the performance of capital-intensive companies. Unlike ROE %, which indicates the profitability of Shareholders Equity, ROCE % also considers long-term debt in Capital Employed. This can be helpful when analyzing companies with significant debt, as the result is neutralized by taking debt into consideration.

Generally speaking, a higher ROCE % indicates a stonger profitability for a company. Moreover, it is important to look at the ratio from a long term perspective. Investors tend to favor companies with stable and rising ROCE % trend over those with volatile ones.

D-Wave Quantum ROCE % Related Terms

D-Wave Quantum ROCE % Historical Data

* Premium members only.

The historical data trend for D-Wave Quantum's ROCE % 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.

D-Wave Quantum ROCE % Chart

D-Wave Quantum Annual Data
Trend Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
ROCE %
Get a 7-Day Free Trial -135.61 -343.28 -280.20 -128.53 -65.96

D-Wave Quantum Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
ROCE % 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 -8.65 -117.80 -66.78 -17.86 -18.02
QBTS
64GF Score
D-Wave Quantum Inc QBTS
ROCE % is just one metric. See GF Score™, valuation, warning signs, and more.
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D-Wave Quantum ROCE % Calculation

D-Wave Quantum's annualized ROCE % for the fiscal year that ended in Dec. 2025 is calculated as:

ROCE %=EBIT/( (Capital Employed+Capital Employed)/ count )
(A: Dec. 2025 )  (A: Dec. 2024 )(A: Dec. 2025 )
=EBIT/( ( (Total Assets - Total Current Liabilities)+(Total Assets - Total Current Liabilities) )/ count )
(A: Dec. 2025 )  (A: Dec. 2024 )(A: Dec. 2025 )
=-351.049/( ( (199.853 - 30.145) + (915.813 - 21.148) )/ 2 )
=-351.049/( (169.708+894.665)/ 2 )
=-351.049/532.1865
=-65.96 %

D-Wave Quantum's ROCE % of for the quarter that ended in Mar. 2026 is calculated as:

ROCE %=EBIT (1)/( (Capital Employed+Capital Employed)/ count )
(Q: Mar. 2026 )  (Q: Dec. 2025 )(Q: Mar. 2026 )
=EBIT/( ( (Total Assets - Total Current Liabilities)+(Total Assets - Total Current Liabilities) )/ count )
(Q: Mar. 2026 )  (Q: Dec. 2025 )(Q: Mar. 2026 )
=-186.2/( ( (915.813 - 21.148) + (1199.815 - 28.356) )/ 2 )
=-186.2/( ( 894.665 + 1171.459 )/ 2 )
=-186.2/1033.062
=-18.02 %

(1) Note: The EBIT data used here is four times the quarterly (Mar. 2026) EBIT data.

* 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.

Frequently Asked Questions Learn more about ROCE % →
What does a ROCE % of -18.02% mean?
D-Wave Quantum (QBTS) has a ROCE % of -18.02% as of Mar. 2026.
Is D-Wave Quantum's ROCE % too high?
D-Wave Quantum's current ROCE % is -18.02%. 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 ROCE % compare to RGTI and QUBT?
D-Wave Quantum's ROCE % of -18.02% can be compared against companies in the Hardware industry. The industry median ROCE % is 5.83. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good ROCE % for a Hardware company?
The median ROCE % among Hardware companies is 5.83, based on 2,445 companies in the industry. Companies in the top quartile (top 25%) have a ROCE % significantly above this median, while those in the bottom quartile fall well below. However, ROCE % 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 ROCE % mean?
A high ROCE % can signal that a stock is expensive relative to its fundamentals. For the Hardware industry, the median ROCE % is 5.83 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. D-Wave Quantum's current ROCE % is -18.02%. 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 ROCE % is -18.02%. 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 ROCE % calculated?
ROCE % is calculated from a company's financial statements. For D-Wave Quantum (QBTS), the current ROCE % is -18.02% 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:

  • ROCE %: -18.02%
  • GF Value™: $2.45 vs. price of $22.76 (829% above fair value)
  • GF Score™: 64/100 with 4 warning signs

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 Business Description

Address 2650 East Bayshore Road, Palo Alto, CA, USA, 94303
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

Get the complete analysis for QBTS

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

$22.76
Price
$2.45
GF Value