• EN

    • -+ 0.00%
    -+ 0.00%
    -+ 0.00%

    IonQ (IONQ) Valuation After 222% Revenue Growth And Record 2 Qubit Fidelity Milestones

    Simply Wall St·01/06/2026 10:42:27
    Listen to the news

    IonQ (IONQ) is back in focus after reporting 222% year over year revenue growth, a world record 99.99% 2 qubit gate fidelity, and securing a 100 qubit Tempo system deal in South Korea.

    See our latest analysis for IonQ.

    IonQ’s recent technical milestones and international deals have arrived after a choppy period, with a 1-month share price return of 7.55% decline and a 90-day share price return of 34.44% decline, even as the 3-year total shareholder return is very large. Overall, the stock’s short term momentum has been under pressure while long term performance remains very strong. The latest revenue and fidelity updates appear to be shifting attention back to growth potential and execution risk.

    If IonQ’s quantum progress has your attention, it could be a good moment to see what else is happening across high growth tech and AI, including high growth tech and AI stocks.

    With IonQ reporting 222% revenue growth, a world record 99.99% 2 qubit gate fidelity, and a growing list of international deals, is the current share price leaving meaningful upside on the table or already assuming years of future progress?

    Price to Book of 7.6x: Is it justified?

    IonQ’s share price of US$48.71 currently aligns with a P/B of 7.6x, which screens as cheaper than direct peers but richer than the broader US Tech industry.

    The P/B ratio compares the company’s market value to its book value. It can be a useful reference for asset light, early stage tech names where earnings are still negative. For IonQ, it gives you a snapshot of what investors are paying relative to the company’s reported net assets while it is still loss making.

    Against its peer set, IonQ’s 7.6x P/B is below the peer average of 10.4x. This suggests the market is not assigning the same premium multiple that peers currently carry. However, compared to the wider US Tech industry average of 2.3x, IonQ’s P/B is more than three times higher. This points to a valuation that is materially richer than the broader sector despite the company remaining unprofitable.

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

    Result: Price-to-book of 7.6x (ABOUT RIGHT)

    However, there are clear pressure points here, including ongoing losses of US$1,466.043m and the risk that high expectations around quantum adoption prove too optimistic.

    Find out about the key risks to this IonQ narrative.

    Build Your Own IonQ Narrative

    If you look at the same numbers and reach a different conclusion, or prefer to test your own view, you can build a fresh thesis in a few minutes with Do it your way.

    A great starting point for your IonQ research is our analysis highlighting 1 key reward and 3 important warning signs that could impact your investment decision.

    Ready for more investment ideas?

    If IonQ has sharpened your thinking, do not stop here. Broaden your watchlist now with focused screens that surface very different kinds of opportunities.

    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.