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    IonQ (IONQ) Valuation Check After Slovakia Quantum Network Launch and New Regenerative Medicine Partnership

    Simply Wall St·12/09/2025 23:34:19
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    IonQ (IONQ) just checked two big boxes at once, rolling out Slovakia’s first national quantum communication network while also teaming up with a leading regenerative medicine group on quantum AI powered drug development.

    See our latest analysis for IonQ.

    All of this comes as IonQ’s share price has climbed to about $54.36, with a 7 day share price return of 15.37% and a 1 year total shareholder return of 58.76%. This suggests momentum is rebuilding after recent volatility and is still grounded in a much larger three year total shareholder return of 1116.11%.

    If IonQ’s moves in quantum networking and healthcare have your attention, it is worth seeing what else is emerging across high growth tech and AI, starting with high growth tech and AI stocks.

    Yet with IonQ still unprofitable, but growing revenue at triple digit rates and trading at a discount to Wall Street targets, are investors staring at a rare asymmetric upside opportunity, or a market already pricing in perfection?

    Price to Book of 8.5x: Is it justified?

    IonQ trades on a price to book ratio of 8.5 times, which signals a rich valuation relative to both its peers and the broader US tech space.

    Price to book compares the company’s market value to the net assets on its balance sheet, a useful lens for asset heavy and early stage growth names like IonQ where earnings are still negative.

    On one hand, IonQ screens as good value versus its direct peer group, where the average price to book stands at 11.2 times. This suggests investors are paying less per dollar of book value than for similar quantum or frontier computing plays. On the other hand, that same 8.5 times multiple looks expensive when set against the wider US tech industry average of just 2.3 times. This underlines how much future growth and commercialization investors are already baking into today’s price.

    See what the numbers say about this price — find out in our valuation breakdown.

    Result: Price to Book of 8.5x (ABOUT RIGHT)

    However, risks remain, including sustained losses and slower than expected commercialization, which could quickly deflate sentiment and compress that premium valuation.

    Find out about the key risks to this IonQ narrative.

    Build Your Own IonQ Narrative

    If you see the numbers differently or would rather dig into the details yourself, you can build a custom take in just a few minutes, starting with Do it your way.

    A great starting point for your IonQ research is our analysis highlighting 1 key reward and 4 important warning signs that could impact your investment decision.

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    This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.