IonQ (IONQ) Stock Analysis

June 23, 2026

This is a peer-relative look at IonQ (IONQ): its performance, risk, profitability, financial strength, dividend, and valuation are each measured against its Technology Hardware & Equipment peers, so every number reads in context rather than in isolation.

Company Profile

Company profile fields for IonQ (IONQ)
Profile Item	IONQ
Name	IonQ, Inc.
Country/Region	United States
GICS Sector	Information Technology
GICS Industry Group	Technology Hardware & Equipment
GICS Industry	Technology Hardware, Storage & Peripherals
GICS Sub-Industry	Technology Hardware, Storage & Peripherals
Market Capitalization	21.77 billion USD
Currency	USD
Exchange	NYSE
Listing Date	January 4, 2021
Security Type	Common Stock

Performance

Cumulative Growth

IONQ

GSPC

IonQ (IONQ) vs. S&P 500 (GSPC): Growth of a $10,000 investment over the past five years. Adjusted for dividends and splits.

Trailing Returns

Loading price history…

Trailing total returns for IonQ (IONQ) and S&P 500 (GSPC). Returns over one year are annualized.

Performance at a Glance

IonQ (IONQ) metric values compared with Technology Hardware & Equipment industry-group medians
Metric	Current stock: IONQ	Industry group median
Total Return (1Y)	44.50%	76.59%

Risk

Drawdown

IONQ

GSPC

IonQ (IONQ) vs. S&P 500 (GSPC): Drawdown from the running peak over the past five years. Each line shows the decline from its prior peak; 0% marks a new high.

Risk at a Glance

IonQ (IONQ) metric values compared with Technology Hardware & Equipment industry-group medians
Metric	Current stock: IONQ	Industry group median
Volatility (1Y, Annualized)	94.15%	52.91%
Beta (5Y)	3.22	1.32

Profitability

ROE (TTM)

IonQ (IONQ) posts ROE of 11.29%, roughly around the peer group’s normal range. Shareholders’ equity is producing a return that looks broadly typical for the industry.

IONQ

Technology Hardware & Equipment industry group

11.29%

Group distribution

Max: 44.16%
Q3: 19.25%
IONQ: 11.29%
Median: 10.96%
Q1: 0.71%
Min: -25.92%

Largest peers

STX: 1,787.97%
AAPL: 141.47%
WDC: 85.92%
SNDK: 39.30%
CSCO: 25.23%
IONQ: 11.29%
DELL: --

Where IonQ (IONQ) stands on ROE within its Technology Hardware & Equipment peer group — the box is the group’s distribution and the dots its largest members.

Net Margin (TTM)

IonQ (IONQ) keeps 174.88% of revenue as net profit on net margin, above the industry benchmark range. That is unusually strong bottom-line conversion, though tax effects, asset sales, or other one-off gains should be checked before treating it as durable.

IONQ

Technology Hardware & Equipment industry group

174.88%

Group distribution

IONQ: 174.88%
Max: 30.43%
Q3: 12.35%
Median: 4.45%
Q1: 0.00%
Min: -14.09%

Largest peers

IONQ: 174.88%
WDC: 55.29%
SNDK: 34.19%
AAPL: 27.15%
STX: 21.60%
CSCO: 19.69%
DELL: 6.28%

Where IonQ (IONQ) stands on net margin within its Technology Hardware & Equipment peer group — the box is the group’s distribution and the dots its largest members.

Operating Margin (TTM)

IonQ (IONQ) has negative operating margin of -401.76%. Core operations were loss-making before interest and taxes over the trailing period.

IONQ

Technology Hardware & Equipment industry group

-401.76%

Group distribution

Max: 35.67%
Q3: 15.55%
Median: 6.62%
Q1: 1.55%
Min: -18.45%
IONQ: -401.76%

Largest peers

SNDK: 69.98%
WDC: 37.01%
STX: 35.67%
AAPL: 32.28%
CSCO: 24.99%
DELL: 8.86%
IONQ: -401.76%

Where IonQ (IONQ) stands on operating margin within its Technology Hardware & Equipment peer group — the box is the group’s distribution and the dots its largest members.

Profitability at a Glance

IonQ (IONQ) metric values compared with Technology Hardware & Equipment industry-group medians
Metric	Current stock: IONQ	Industry group median
ROE (TTM)	11.29%	10.96%
ROA (TTM)	-12.83%	4.31%
Net Margin (TTM)	174.88%	4.45%
Operating Margin (TTM)	-401.76%	6.62%
Gross Margin (TTM)	36.11%	38.82%

Financial Strength

Current Ratio (MRQ)

IonQ (IONQ) has current ratio of 14.05, above the industry’s typical middle range. Liquidity looks ample versus peers, though an unusually high cushion can also mean idle current assets or inefficient working capital.

IONQ

Technology Hardware & Equipment industry group

14.05

Group distribution

IONQ: 14.05
Max: 5.80
Q3: 3.18
Median: 1.90
Q1: 1.28
Min: 0.40

Largest peers

IONQ: 14.05
SNDK: 4.78
WDC: 1.49
STX: 1.33
AAPL: 1.07
DELL: 0.95
CSCO: 0.93

Where IonQ (IONQ) stands on current ratio within its Technology Hardware & Equipment peer group — the box is the group’s distribution and the dots its largest members.

Debt / Equity (MRQ)

IonQ (IONQ) has debt-to-equity ratio of 0.01, in the lower-leverage quartile for its industry. Borrowing is modest relative to equity compared with most peers, which can leave more flexibility through a cycle.

IONQ

Technology Hardware & Equipment industry group

0.01

Group distribution

Max: 2.02
Q3: 0.88
Median: 0.31
Q1: 0.05
IONQ: 0.01
Min: 0.00

Largest peers

STX: 3.82
AAPL: 0.80
CSCO: 0.68
WDC: 0.18
SNDK: 0.02
IONQ: 0.01
DELL: --

Where IonQ (IONQ) stands on debt-to-equity ratio within its Technology Hardware & Equipment peer group — the box is the group’s distribution and the dots its largest members.

Financial Strength at a Glance

IonQ (IONQ) metric values compared with Technology Hardware & Equipment industry-group medians
Metric	Current stock: IONQ	Industry group median
Current Ratio (MRQ)	14.05	1.90
Debt / Equity (MRQ)	0.01	0.31
Net Debt / EBITDA	--	0.91

Dividends

Dividend Yield (TTM)

IonQ (IONQ) pays no dividend, leaving dividend yield at 0.00% this period. Shareholders may still receive value through reinvestment or buybacks, but there is no dividend income to compare here.

IONQ

Technology Hardware & Equipment industry group

0.00%

Group distribution

Max: 0.74%
Q3: 0.34%
IONQ: 0.00%
Median: 0.00%
Q1: 0.00%
Min: 0.00%

Largest peers

CSCO: 1.38%
DELL: 0.54%
AAPL: 0.35%
STX: 0.27%
WDC: 0.06%
IONQ: 0.00%
SNDK: 0.00%

Where IonQ (IONQ) stands on dividend yield within its Technology Hardware & Equipment peer group — the box is the group’s distribution and the dots its largest members.

Dividend Payout Ratio (TTM)

IonQ (IONQ) paid no earnings out as dividends this period, leaving payout ratio at 0.00%. There is no dividend payout to size against earnings.

IONQ

Technology Hardware & Equipment industry group

0.00%

Group distribution

Max: 37.10%
Q3: 15.46%
IONQ: 0.00%
Median: 0.00%
Q1: 0.00%
Min: 0.00%

Largest peers

CSCO: 55.00%
STX: 27.70%
DELL: 17.57%
AAPL: 12.59%
WDC: 2.69%
IONQ: 0.00%
SNDK: 0.00%

Where IonQ (IONQ) stands on payout ratio within its Technology Hardware & Equipment peer group — the box is the group’s distribution and the dots its largest members.

Dividends at a Glance

IonQ (IONQ) metric values compared with Technology Hardware & Equipment industry-group medians
Metric	Current stock: IONQ	Industry group median
Dividend Yield (TTM)	0.00%	0.00%
Dividend Payout Ratio (TTM)	0.00%	0.00%

Valuation

P/E Ratio (TTM)

IonQ (IONQ) trades at P/E ratio of 149.54, in the richer earnings-multiple quartile for its industry. That premium needs support from growth, durable earnings, or stronger business quality.

IONQ

Technology Hardware & Equipment industry group

149.54

Group distribution

Max: 156.28
IONQ: 149.54
Q3: 80.42
Median: 42.19
Q1: 23.73
Min: 8.72

Largest peers

IONQ: 149.54
STX: 104.19
SNDK: 77.52
WDC: 43.87
CSCO: 40.51
AAPL: 35.96
DELL: 33.34

Where IonQ (IONQ) stands on P/E ratio within its Technology Hardware & Equipment peer group — the box is the group’s distribution and the dots its largest members.

P/S Ratio (TTM)

IonQ (IONQ) trades at 116.34 on P/S ratio, above the industry benchmark range. The stock is being valued at an unusually rich price per dollar of trailing revenue.

IONQ

Technology Hardware & Equipment industry group

116.34

Group distribution

IONQ: 116.34
Max: 19.94
Q3: 9.21
Median: 4.06
Q1: 1.46
Min: 0.00

Largest peers

IONQ: 116.34
SNDK: 25.54
STX: 22.48
WDC: 21.44
AAPL: 9.66
CSCO: 7.89
DELL: 2.02

Where IonQ (IONQ) stands on P/S ratio within its Technology Hardware & Equipment peer group — the box is the group’s distribution and the dots its largest members.

P/B Ratio (MRQ)

IonQ (IONQ) trades at 4.37 on P/B ratio, roughly in line with the industry’s normal price-to-book range. Its balance sheet is not being priced at a clear discount or premium versus peers.

IONQ

Technology Hardware & Equipment industry group

4.37

Group distribution

Max: 21.56
Q3: 9.87
Median: 4.66
IONQ: 4.37
Q1: 2.07
Min: -4.15

Largest peers

STX: 224.19
AAPL: 40.91
WDC: 35.03
SNDK: 24.43
CSCO: 9.80
IONQ: 4.37
DELL: -193.58

Where IonQ (IONQ) stands on P/B ratio within its Technology Hardware & Equipment peer group — the box is the group’s distribution and the dots its largest members.

Valuation at a Glance

IonQ (IONQ) metric values compared with Technology Hardware & Equipment industry-group medians
Metric	Current stock: IONQ	Industry group median
P/E Ratio (TTM)	149.54	42.19
P/S Ratio (TTM)	116.34	4.06
P/B Ratio (MRQ)	4.37	4.66
Free Cash Flow Yield (TTM)	-0.42%	1.98%