QBTS vs. ZS: A Head-to-Head Stock Comparison

Updated on August 30, 2025

Here’s a clear look at QBTS and ZS, comparing key factors like historical performance, profitability, financial strength, growth, dividend, and valuation.

Company Profile

Symbol	QBTS	ZS
Company Name	D-Wave Quantum Inc.	Zscaler, Inc.
Country	United States	United States
GICS Sector	Information Technology	Information Technology
GICS Industry	Software	Software
Market Capitalization	5.21 billion USD	42.52 billion USD
Exchange	NYSE	NasdaqGS
Listing Date	December 11, 2020	March 16, 2018
Security Type	Common Stock	Common Stock

Historical Performance

This chart compares the performance of QBTS and ZS by tracking the growth of an initial $10,000 investment in each. Use the tabs to select the desired time period. Data is adjusted for dividends and splits.

QBTS vs. ZS: Growth of a $10,000 investment over the past one year.

Historical Performance at a Glance

Symbol	QBTS	ZS
5-Day Price Return	2.84%	1.01%
13-Week Price Return	-13.22%	6.13%
26-Week Price Return	110.07%	37.53%
52-Week Price Return	1,423.00%	38.04%
Month-to-Date Return	-11.40%	-4.37%
Year-to-Date Return	81.31%	51.36%
10-Day Avg. Volume	31.36M	0.98M
3-Month Avg. Volume	59.47M	2.17M
3-Month Volatility	80.50%	33.84%
Beta	1.38	1.06

Profitability

Return on Equity (TTM)

QBTS

Software Industry

Max: 59.01%
Q3: 21.98%
Median: 7.15%
Q1: -11.12%
Min: -51.24%

Return on Equity data for QBTS is currently unavailable.

ZS

-2.54%

Software Industry

Max: 59.01%
Q3: 21.98%
Median: 7.15%
Q1: -11.12%
Min: -51.24%

ZS has a negative Return on Equity of -2.54%. This indicates the company is generating a loss for its shareholders, which can be a result of unprofitability or negative shareholder equity and is often a sign of financial distress.

QBTS vs. ZS: A comparison of their Return on Equity (TTM) against the Software industry benchmark.

Net Profit Margin (TTM)

QBTS

-1,263.92%

Software Industry

Max: 48.14%
Q3: 18.23%
Median: 5.60%
Q1: -9.22%
Min: -49.36%

QBTS has a negative Net Profit Margin of -1,263.92%, indicating the company is operating at a net loss as its expenses exceeded its revenues.

ZS

-1.52%

Software Industry

Max: 48.14%
Q3: 18.23%
Median: 5.60%
Q1: -9.22%
Min: -49.36%

ZS has a negative Net Profit Margin of -1.52%, indicating the company is operating at a net loss as its expenses exceeded its revenues.

QBTS vs. ZS: A comparison of their Net Profit Margin (TTM) against the Software industry benchmark.

Operating Profit Margin (TTM)

QBTS

-353.14%

Software Industry

Max: 57.34%
Q3: 20.60%
Median: 7.84%
Q1: -8.72%
Min: -51.37%

QBTS has a negative Operating Profit Margin of -353.14%. This signifies the company is unprofitable at the operational level, as its core business expenses exceed its revenue.

ZS

-4.84%

Software Industry

Max: 57.34%
Q3: 20.60%
Median: 7.84%
Q1: -8.72%
Min: -51.37%

ZS has a negative Operating Profit Margin of -4.84%. This signifies the company is unprofitable at the operational level, as its core business expenses exceed its revenue.

QBTS vs. ZS: A comparison of their Operating Profit Margin (TTM) against the Software industry benchmark.

Profitability at a Glance

Symbol	QBTS	ZS
Return on Equity (TTM)	--	-2.54%
Return on Assets (TTM)	-82.90%	-0.78%
Net Profit Margin (TTM)	-1,263.92%	-1.52%
Operating Profit Margin (TTM)	-353.14%	-4.84%
Gross Profit Margin (TTM)	82.46%	77.38%

Financial Strength

Current Ratio (MRQ)

QBTS

20.73

Software Industry

Max: 3.83
Q3: 2.31
Median: 1.45
Q1: 1.03
Min: 0.24

QBTS’s Current Ratio of 20.73 is exceptionally high, placing it well outside the typical range for the Software industry. This indicates a very strong liquidity position, though such a high ratio may also suggest that the company is not using its assets efficiently to generate profits.

ZS

1.24

Software Industry

Max: 3.83
Q3: 2.31
Median: 1.45
Q1: 1.03
Min: 0.24

ZS’s Current Ratio of 1.24 aligns with the median group of the Software industry, indicating that its short-term liquidity is in line with its sector peers.

QBTS vs. ZS: A comparison of their Current Ratio (MRQ) against the Software industry benchmark.

Debt-to-Equity Ratio (MRQ)

QBTS

0.15

Software Industry

Max: 2.14
Q3: 0.90
Median: 0.29
Q1: 0.00
Min: 0.00

QBTS’s Debt-to-Equity Ratio of 0.15 is typical for the Software industry, indicating its use of leverage is in line with the sector norm. This suggests a balanced approach to its capital structure.

ZS

0.64

Software Industry

Max: 2.14
Q3: 0.90
Median: 0.29
Q1: 0.00
Min: 0.00

ZS’s Debt-to-Equity Ratio of 0.64 is typical for the Software industry, indicating its use of leverage is in line with the sector norm. This suggests a balanced approach to its capital structure.

QBTS vs. ZS: A comparison of their Debt-to-Equity Ratio (MRQ) against the Software industry benchmark.

Interest Coverage Ratio (TTM)

QBTS

-46.22

Software Industry

Max: 67.02
Q3: 19.86
Median: 0.70
Q1: -12.50
Min: -53.00

QBTS has a negative Interest Coverage Ratio of -46.22. This indicates that its earnings were insufficient to cover even its operational costs, let alone its interest payments, signaling significant financial distress.

ZS

-6.38

Software Industry

Max: 67.02
Q3: 19.86
Median: 0.70
Q1: -12.50
Min: -53.00

ZS has a negative Interest Coverage Ratio of -6.38. This indicates that its earnings were insufficient to cover even its operational costs, let alone its interest payments, signaling significant financial distress.

QBTS vs. ZS: A comparison of their Interest Coverage Ratio (TTM) against the Software industry benchmark.

Financial Strength at a Glance

Symbol	QBTS	ZS
Current Ratio (MRQ)	20.73	1.24
Quick Ratio (MRQ)	20.44	1.20
Debt-to-Equity Ratio (MRQ)	0.15	0.64
Interest Coverage Ratio (TTM)	-46.22	-6.38

Growth

Revenue Growth

QBTS vs. ZS: A side-by-side comparison of their Revenue Growth for the MRQ (YoY), TTM (YoY), 3-Year CAGR, and 5-Year CAGR periods.

EPS Growth

QBTS vs. ZS: A side-by-side comparison of their EPS Growth for the MRQ (YoY), TTM (YoY), 3-Year CAGR, and 5-Year CAGR periods.

Dividend

Dividend Yield (TTM)

QBTS

0.00%

Software Industry

Max: 0.08%
Q3: 0.03%
Median: 0.00%
Q1: 0.00%
Min: 0.00%

QBTS currently does not pay a dividend, resulting in a yield of 0%. This is a common strategy for growth-focused companies that prioritize reinvesting earnings, though it may be less typical in mature, income-oriented sectors.

ZS

0.00%

Software Industry

Max: 0.08%
Q3: 0.03%
Median: 0.00%
Q1: 0.00%
Min: 0.00%

ZS currently does not pay a dividend, resulting in a yield of 0%. This is a common strategy for growth-focused companies that prioritize reinvesting earnings, though it may be less typical in mature, income-oriented sectors.

QBTS vs. ZS: A comparison of their Dividend Yield (TTM) against the Software industry benchmark.

Dividend Payout Ratio (TTM)

QBTS

0.00%

Software Industry

Max: 1.32%
Q3: 0.53%
Median: 0.00%
Q1: 0.00%
Min: 0.00%

QBTS has a Dividend Payout Ratio of 0%, indicating it does not currently pay a dividend. This is a common strategy for growth-oriented companies that reinvest all profits back into the business.

ZS

0.00%

Software Industry

Max: 1.32%
Q3: 0.53%
Median: 0.00%
Q1: 0.00%
Min: 0.00%

ZS has a Dividend Payout Ratio of 0%, indicating it does not currently pay a dividend. This is a common strategy for growth-oriented companies that reinvest all profits back into the business.

QBTS vs. ZS: A comparison of their Dividend Payout Ratio (TTM) against the Software industry benchmark.

Dividend at a Glance

Symbol	QBTS	ZS
Dividend Yield (TTM)	0.00%	0.00%
Dividend Payout Ratio (TTM)	0.00%	0.00%

Valuation

Price-to-Earnings Ratio (TTM)

QBTS

Software Industry

Max: 149.35
Q3: 100.21
Median: 47.97
Q1: 26.77
Min: 11.68

P/E Ratio data for QBTS is currently unavailable.

ZS

Software Industry

Max: 149.35
Q3: 100.21
Median: 47.97
Q1: 26.77
Min: 11.68

P/E Ratio data for ZS is currently unavailable.

QBTS vs. ZS: A comparison of their Price-to-Earnings Ratio (TTM) against the Software industry benchmark.

Price-to-Sales Ratio (TTM)

QBTS

231.24

Software Industry

Max: 25.24
Q3: 13.52
Median: 8.15
Q1: 4.87
Min: 0.98

With a P/S Ratio of 231.24, QBTS trades at a valuation that eclipses even the highest in the Software industry. This implies the market has priced in exceptionally optimistic scenarios for future revenue growth, posing considerable valuation risk.

ZS

17.53

Software Industry

Max: 25.24
Q3: 13.52
Median: 8.15
Q1: 4.87
Min: 0.98

ZS’s P/S Ratio of 17.53 is in the upper echelon for the Software industry. This means the company is valued richly on its revenue stream compared to its peers, suggesting the stock is priced for a high level of future performance.

QBTS vs. ZS: A comparison of their Price-to-Sales Ratio (TTM) against the Software industry benchmark.

Price-to-Book Ratio (MRQ)

QBTS

10.68

Software Industry

Max: 30.95
Q3: 14.91
Median: 7.75
Q1: 3.60
Min: 0.38

QBTS’s P/B Ratio of 10.68 is within the conventional range for the Software industry. This shows a balanced market view, where the stock’s price is neither at a significant premium nor a discount to the book value of its peers.

ZS

19.39

Software Industry

Max: 30.95
Q3: 14.91
Median: 7.75
Q1: 3.60
Min: 0.38

ZS’s P/B Ratio of 19.39 is in the upper tier for the Software industry. This indicates that investors are paying a premium relative to the company’s net assets, a valuation that hinges on its ability to generate superior profits.

QBTS vs. ZS: A comparison of their Price-to-Book Ratio (MRQ) against the Software industry benchmark.

Valuation at a Glance

Symbol	QBTS	ZS
Price-to-Earnings Ratio (TTM)	--	--
Price-to-Sales Ratio (TTM)	231.24	17.53
Price-to-Book Ratio (MRQ)	10.68	19.39
Price-to-Free Cash Flow Ratio (TTM)	--	64.60