Ionq Inc's Competitiveness
A competitive positioning analysis and financial ratio benchmarking of Ionq Inc (IONQWS) against its publicly traded competitors: sales growth, net income, profitability, valuation and market share, plus each peer's market capitalization, revenue, income and employees. Free below: the top 5 peers. Subscriber access adds the full competitor list and CSV downloads.
Key Findings: Ionq Inc vs Its Competitors
- TTM: Trailing 12-month revenue of 246M vs 10M combined for tracked competitors (96.2% combined share).
- Trending: Latest-quarter revenue run-rate is accelerating (+29.9% annualized vs trailing 12 months), vs accelerating (+126.0%) for its tracked peer group.
- Growth: Ionq Inc generated 286.8% revenue growth year over year in Q2 2026, vs 8,048.6% for its tracked competitors combined.
- Profitability: Its -2,334.3% net margin compares with -180.7% for the peer group.
- Peer revenue share: Ionq Inc accounted for 93.5% of combined revenue among its tracked peer group, down from 99.7% a year earlier.
- Peer differentiation: Revenue per employee of $0.22M compares with $0.20M for the peer group (1.1x).
Every figure above is sourced and cited in detail further down this page (Market Structure, Profitability & Cost Structure, Productivity vs Peers).
IONQWS Sales vs. its Competitors, Q2 2026
Ionq Inc reported revenue growth of 286.83 % year on year in Q2 2026, below its competitors' combined revenue growth of 8,048.62 %.
With a net margin of -2,334.29 %, Ionq Inc reported lower profitability than its competitors (-180.70 %).
Ionq Inc generated 93.52 % of the combined sales of its peer group, down from 99.67 % a year earlier.
Ionq Inc vs. its Competitors, Q2 2026
Revenue growth, year on year
Net margin
Revenue run-rate vs trailing 12 months
TTM net margin
TTM = trailing twelve months. Run-rate annualizes the latest quarter (×4) and compares it to TTM. In millions of $. High-Confidence Competitors are named as a competitor directly in Ionq Inc reports; Similar-Size Competitors are the closest peers by market-cap rank within the same industry; Similar Growth & Profitability Competitors are the closest peers by combined revenue growth, operating margin and ROIC, all independent of the competitor list.
TTM revenue, latest-quarter run-rate and net income/margin benchmarked across Ionq Inc and its 4 competitor groupings. Available under Commercial License.
| Entity | TTM Revenue | Rev Run-rate vs TTM |
|---|---|---|
| Ionq Inc | $12,345M | +12.3% · Accelerating |
| Competitors combined | $12,345M | +12.3% · Accelerating |
| High-Confidence Competitors (5) | $12,345M | +12.3% · Accelerating |
TTM revenue, run-rate and net margin benchmarking across Ionq Inc's competitor groups requires a Commercial License.
For context: the Cloud Computing & Data Analytics industry grew revenue 8.2% year over year, combined, vs 286.8% for Ionq Inc. Ionq Inc's share of combined industry revenue moved from 0.02% to 0.06%, a gain of 0.04 percentage points.
Ionq Inc's Competitor Quality Breadth
Share of each group, trailing 12 months: profitable (net margin > 0), expanding (revenue growth > 0), growing faster than the industry's own median, and financially distressed (Piotroski F-Score of 2 or below).
| Entity | Profitable | Expanding | Above Industry Growth | Distressed |
|---|---|---|---|---|
| Ionq Inc | - | Yes | Yes | No |
| Competitors combined (2) | - | |||
| High-Confidence Competitors (6) |
Source: CSIMarket API, trailing 12 months. Altman Z-Score is not shown here: it is not populated in the underlying data for any company. Percentages are of companies in each group that report the relevant metric, not of the full group size.
IONQWS Stock Performance relative to its Competitors
IONQWS Stock Performance relative to High-Confidence Competitors
5 Best-Performing Tracked Competitors, Trailing 12 Months
| # | Competitor | TTM Share Price Return | vs U.S.A. 500 |
|---|---|---|---|
| 1 | Quantum Computing Inc | 282.9% | Outperformed |
TTM share price return and U.S.A. 500 outperformance for Ionq Inc's best-performing tracked competitors requires a Commercial License.
Source: CSIMarket API, trailing 12 months.
Ionq Inc's Comment on Competition and Industry Peers
Publicly Traded Peers of Ionq Inc
Revenue and income for trailing 12 months, in millions of $, except employees| Company | Market Cap | Revenues |
|---|---|---|
| Ionq Inc | - | 246.47 |
| Quantum Computing Inc | 1,445.42 | 9.82 |
| Aeternum Health Inc | 0.34 | - |
| SUBTOTAL | 1,445.76 | 256.30 |
Sources: Ionq Inc's official press releases and company reports; CSIMarket.com's market research; and the company reports and press releases of the other companies cited.
Updated on:
Focus of this report: publicly traded companies. Ten additional tables on Ionq Inc versus competitors, including market share analysis, are in the navigation menu under Competition. To download the tables, please subscribe.
Ionq Inc's Competitors Named by the Company
Competitive relationships identified from Ionq Inc reports and corroborating sources, each with a basis and confidence.| Competitor | Basis | Confidence |
|---|---|---|
| Quantum Computing Inc | Company report | 85% |
| Rigetti Computing | Company report | 85% |
| Churchill Capital Corp X | Company report | 85% |
| D wave Quantum Inc | Company report | 85% |
| Company report | 85% | |
| IBM | Company report | 85% |
| Aeternum Health Inc | Company report | 85% |
Company report basis, confidence, active dates and source counts for Ionq Inc's named competitors require a Commercial License.
Methodology: relationships are extracted from Ionq Inc reports (named-competitor disclosures) and corroborating sources. Confidence reflects evidence strength.
Ionq Inc's Business Segment Mix vs Peers
Revenue by operating segment or division, as named and reported by each company. Segment names are the filer's own and are not standardized across companies. Do not assume a same-named or similarly-named segment is defined identically between two companies. Shares are of each company's own total revenue and are not required to sum to 100% (intersegment revenue, unallocated items).| Company | Largest Segment |
|---|---|
| Quantum Computing Inc | Reportable 100.00 % |
Source: operating segment revenue as reported in each company's reports (10-K/10-Q), via the CSIMarket API, leaf-level reportable segments only (parent roll-up segments are excluded where sub-segments are separately disclosed).
Ionq Inc's Productivity vs Peers Comparison
Revenue and income per employee, trailing 12 months, in $; market cap in millions of $| Company | Market Cap | Revenue / Employee | Income / Employee |
|---|---|---|---|
| Ionq Inc | - | 217,733 | -1,207,004 |
| Quantum Computing Inc | 1,445 | 204,667 | -312,021 |
| Aeternum Health Inc | 0 | - | - |
| PEERS TOTAL | 1,446 | 204,667 | -283,984 |
Ionq Inc's Geographic Revenue Exposure vs Peers
Revenue by country/region as reported in each company's most recent report. Disclosure granularity varies by filer (some report by country, others by broad region) and is shown as disclosed.| Company | Largest Market |
|---|---|
| Ionq Inc | US 47.77 % |
Source: revenue geography as reported in each company's reports (10-K/10-Q), via the CSIMarket API. Percentages are of that company's own total consolidated revenue for its most recent reported period.
Ionq Inc's Profitability & Cost Structure
Trailing 12-month margins from SEC-filed financials. Operating margin is compared to the Cloud Computing & Data Analytics industry median; gross margin, EBITDA margin and capital intensity are compared to the live industry average (257 companies). See the full Cloud Computing & Data Analytics industry profitability benchmarks.| Metric | Company | Industry | Difference |
|---|---|---|---|
| Gross Margin | 29.32 % | 43.46 % (avg) | -14.1 pp |
| Operating Margin | - | industry median | - |
| EBITDA Margin | - | 2.55 % (avg) | - |
| Capital Intensity (Capex / Revenue) | 12.78 % | 5.83 % (avg) | +7.0 pp |
Source: CSIMarket API, trailing 12 months. SG&A and R&D as a share of revenue have limited coverage as this data is backfilled and appear only where reported. Higher capital intensity is not inherently negative; it reflects the industry's asset requirements.
Ionq Inc's Multi-Year Financial Trajectory
Fiscal-year revenue growth, operating margin, return on invested capital and P/E, as reported in company reports.| Metric | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|
| Revenue Growth | - | - | - | 98.02 % | 95.41 % | 201.85 % |
| Operating Margin | - | - | -770.34 % | - | - | - |
| Return on Invested Capital | - | -5.15 % | -7.27 % | -14.90 % | -25.15 % | -12.22 % |
| P/E | - | - | - | - | - | - |
Source: CSIMarket API, fiscal-year figures. P/E is this company's own historical ratio at each fiscal year end and can swing sharply around an earnings trough: that is real, not a data error.
Ionq Inc's Competitive Forces (Porter's Five Forces)
Only the forces this data can support honestly are shown; the other three are marked as such rather than guessed.| Force | Assessment | Basis |
|---|---|---|
| Barriers to Entry | High (capital intensive) | Capital intensity (capex / revenue) of 12.78 % vs industry average 5.83 % (see Profitability & Cost Structure above) |
| Supplier Power | Not covered on this page | See Ionq Inc's dedicated suppliers page for concentration and dependency data |
| Buyer Power | Not covered on this page | See Ionq Inc's dedicated customers page for concentration and dependency data |
| Threat of Substitutes | - | No systematic data source for cross-product substitution exists in this system; not estimated |
Note: this is a partial, data-grounded application of the framework, not a complete strategic assessment. Rivalry and barriers-to-entry readings are mechanical translations of the HHI and capital-intensity figures shown elsewhere on this page, not independent judgments.
Ionq Inc's SWOT
Every point below is a fixed rule applied to a metric already shown elsewhere on this page (Market Structure, Profitability, Valuation, Run-Rate, Stock Performance, Quality Breadth) not an independent strategic assessment. A blank quadrant means no rule was met, not that none apply.Strengths
- Latest-quarter revenue run-rate is accelerating (+29.9% annualized vs trailing 12 months).
Weaknesses
- Return on equity 48.9 points below the industry aggregate.
Opportunities
No rule matched.
Threats
- High capital intensity requires continuous reinvestment just to keep pace with the industry.
Methodology: mechanical, rule-based SWOT. Each bullet reuses a figure already sourced and cited elsewhere on this page; nothing here is generated narrative or independent analyst judgment.
Ionq Inc's Financial Strength vs Peers Comparison
Quick ratio, working capital, debt to equity and asset turnover, trailing 12 months| Company | Quick Ratio | Working Capital | Debt / Equity |
|---|---|---|---|
| Ionq Inc | 4.46 | 12.23 | - |
| Quantum Computing Inc | 31.77 | 76.26 | - |
| Aeternum Health Inc | 0.21 | 0.57 | - |
Quick ratio = cash / current liabilities; working capital ratio = current assets / current liabilities; asset turnover = revenue / total assets. Peers in the Blank Checks industry are excluded.
Ionq Inc's Revenue and Income Growth vs Peers
Quarterly revenue and net income growth, year over year and quarter over quarter| Company | Period | Revenue Y/Y | Income Y/Y |
|---|---|---|---|
| Ionq Inc | Q2 2026 | +286.8 % | - |
| Quantum Computing Inc | Q2 2026 | +9,000.0 % | - |
| Aeternum Health Inc | Q2 2026 | - | - |
| PEERS TOTAL | +312.3 % | - |
Growth is shown only where both periods are positive. Peers in the Blank Checks industry are excluded.
Ionq Inc's Peers' Costs of Sales and Capital Expenditures
Context for revenue growth: peer costs and capex, year over year and quarter over quarter| Company | Period | Costs Y/Y | Capex Y/Y |
|---|---|---|---|
| Ionq Inc | Q2 2026 | +621.9 % | +756.2 % |
| Quantum Computing Inc | Q2 2026 | +19,091.4 % | +160.4 % |
| Aeternum Health Inc | Q2 2026 | - | - |
Ionq Inc's Returns and Turnover vs Peers
ROA, ROI and ROE (trailing 12 months), receivables and inventory turnover| Company | ROA | ROI | ROE |
|---|---|---|---|
| Ionq Inc | - | - | - |
| Quantum Computing Inc | - | - | - |
| Aeternum Health Inc | 252.40% | - | - |
ROA = net income / total assets; ROI = net income / investments; ROE = net income / equity; turnover ratios use trailing 12 month revenue (receivables) and cost of sales (inventory).
Ionq Inc's Valuation vs Peers
P/E, price to sales, PEG, price to cash flow and price to book| Company | P/E | Price / Sales |
|---|---|---|
| Ionq Inc | - | - |
| Quantum Computing Inc | - | 147.13 |
| Aeternum Health Inc | - | - |
| PEERS AVERAGE | - | 5.64 |
P/E = price / diluted EPS (trailing 12 months); PEG = P/E divided by EPS growth; the average row divides the peers' combined market cap by their combined income, sales, cash flow and equity.