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Richard Sloan from the University of Michigan was first to document what is referred to as the "accrual anomaly". His 1996 paper found that shares of companies with small or negative accruals vastly outperform (+10%) those of companies with large ones.
D-Wave Quantum's Sloan Ratio for the quarter that ended in Mar. 2026 was 19.37%.
As of Mar. 2026, D-Wave Quantum has a Sloan Ratio of 19.37%, indicating there is a warning stage of accrual build up.
D-Wave Quantum (NYSE:QBTS) Sloan Ratio % Explanation
A former University of Michigan researcher, Richard Sloan's 1996 paper found that shares of companies with small or negative accruals vastly outperform (+10%) those of companies with large ones. In fact, for the 40-year period between 1962 and 2001, buying the lowest accrual companies and shorting the highest accrual companies resulted in an average annual compounded return of 18%, more than double the S&P 500's 7.4% annual return over the same period.
If the Sloan Ratio is between -10% and 10%, the company is in the safe zone and there is no funny business with accruals.
If the Sloan Ratio is less than between -25% and -10% on the negative side, and between 10% and 25% on the positive side, this is a warning stage of accrual build up.
If the Sloan Ratio is less than -25% or greater than 25%, and this ratio is consistent over several quarters or even years, be careful. Earnings are highly likely to be made up of accruals.
As of Mar. 2026, D-Wave Quantum has a Sloan Ratio of 19.37%, indicating there is a warning stage of accrual build up.
D-Wave Quantum Sloan Ratio % Related Terms
D-Wave Quantum Sloan Ratio % Historical Data
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The historical data trend for D-Wave Quantum's Sloan Ratio % 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: Sloan Ratio % Comparison
For the Computer Hardware subindustry, D-Wave Quantum's Sloan Ratio %, along with its competitors' market caps and Sloan Ratio % 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 Sloan Ratio % vs Hardware Industry
For the Hardware industry and Technology sector, D-Wave Quantum's Sloan Ratio % distribution charts can be found below:
* The bar in red indicates where D-Wave Quantum's Sloan Ratio % falls into.
Earnings contain a lot of non cash earnings which is called accruals. The Sloan ratio is a way to identify firms with low non-cash or accrual-derived earnings relative to their cash flow.
D-Wave Quantum's Sloan Ratio for the fiscal year that ended in Dec. 2025 is calculated as
D-Wave Quantum's Net Income for the trailing twelve months (TTM) ended in Mar. 2026 was -167.329 (Jun. 2025 ) + -139.986 (Sep. 2025 ) + -42.326 (Dec. 2025 ) + -18.357 (Mar. 2026 ) = $-368.00 Mil.
D-Wave Quantum's Cash Flow from Operations for the trailing twelve months (TTM) ended in Mar. 2026 was -15.286 (Jun. 2025 ) + -19.045 (Sep. 2025 ) + -18.372 (Dec. 2025 ) + -44.96 (Mar. 2026 ) = $-97.66 Mil.
D-Wave Quantum's Cash Flow from Investing for the trailing twelve months (TTM) ended in Mar. 2026 was 0.141 (Jun. 2025 ) + -1.21 (Sep. 2025 ) + -249.568 (Dec. 2025 ) + -252.065 (Mar. 2026 ) = $-502.70 Mil.
* 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 Sloan Ratio % of 19.37% as of Mar. 2026. Sloan ratio measures earnings quality based on the amount of accruals. View historical data on D-Wave Quantum and its competitors.
Is D-Wave Quantum's Sloan Ratio % too high?
D-Wave Quantum's current Sloan Ratio % is 19.37%. 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 Sloan Ratio % compare to RGTI and QUBT?
D-Wave Quantum's Sloan Ratio % of 19.37% can be compared against companies in the Hardware industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Sloan Ratio % for a Hardware company?
A good Sloan Ratio % depends on the Hardware industry context. However, Sloan Ratio % 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 Sloan Ratio % mean?
A high Sloan Ratio % can signal that a stock is expensive relative to its fundamentals. Sloan ratio measures earnings quality based on the amount of accruals. View historical data on D-Wave Quantum and its competitors. D-Wave Quantum's current Sloan Ratio % is 19.37%. 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 $18.98 — trading 575.4% above its estimated fair value. The current Sloan Ratio % is 19.37%. 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 Sloan Ratio % calculated?
Sloan Ratio % is calculated from a company's financial statements. For D-Wave Quantum (QBTS), the current Sloan Ratio % is 19.37% 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 $18.98 is trading 575.4% above its estimated GF Value™ of $2.81.
GuruFocus considers D-Wave Quantum to be Significantly Overvalued.
Key valuation signals for QBTS:
Sloan Ratio %: 19.37%
GF Value™: $2.81 vs. price of $18.98 (575.4% 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.
63GF Score
Get the complete analysis for QBTS
Sloan Ratio % is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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