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Side-by-side financial comparison of Ellington Financial Inc. (EFC) and IonQ, Inc. (IONQ). Click either name above to swap in a different company.
Ellington Financial Inc. is the larger business by last-quarter revenue ($78.2M vs $61.9M, roughly 1.3× IonQ, Inc.). IonQ, Inc. runs the higher net margin — 1217.8% vs 28.9%, a 1188.8% gap on every dollar of revenue. On growth, IonQ, Inc. posted the faster year-over-year revenue change (428.5% vs 8.7%).
Ellington Management Group is an American hedge fund firm. As of June 2019, the firm was reportedly managing $8.5 billion in structured products and other credit instruments.
IonQ, Inc. is an American quantum computing hardware and software company headquartered in College Park, Maryland. The company develops general-purpose trapped ion quantum computers and accompanying software to generate, optimize, and execute quantum circuits.
EFC vs IONQ — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $78.2M | $61.9M |
| Net Profit | $22.6M | $753.7M |
| Gross Margin | — | — |
| Operating Margin | 7.4% | -369.4% |
| Net Margin | 28.9% | 1217.8% |
| Revenue YoY | 8.7% | 428.5% |
| Net Profit YoY | -26.2% | 473.1% |
| EPS (diluted) | $0.10 | $2.60 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $78.2M | $61.9M | ||
| Q3 25 | $82.8M | $39.9M | ||
| Q2 25 | $92.5M | $20.7M | ||
| Q1 25 | $82.9M | — | ||
| Q4 24 | $72.0M | $11.7M | ||
| Q3 24 | $67.0M | $12.4M | ||
| Q2 24 | $91.2M | $11.4M | ||
| Q1 24 | $75.5M | — |
| Q4 25 | $22.6M | $753.7M | ||
| Q3 25 | $29.5M | $-1.1B | ||
| Q2 25 | $42.9M | $-176.8M | ||
| Q1 25 | $31.6M | — | ||
| Q4 24 | $30.7M | $-202.0M | ||
| Q3 24 | $16.2M | $-52.5M | ||
| Q2 24 | $52.3M | $-37.6M | ||
| Q1 24 | $26.9M | — |
| Q4 25 | 7.4% | -369.4% | ||
| Q3 25 | 31.1% | -423.5% | ||
| Q2 25 | 38.3% | -776.0% | ||
| Q1 25 | 37.3% | — | ||
| Q4 24 | 28.0% | -661.9% | ||
| Q3 24 | 24.0% | -428.5% | ||
| Q2 24 | 52.8% | -430.0% | ||
| Q1 24 | 42.2% | — |
| Q4 25 | 28.9% | 1217.8% | ||
| Q3 25 | 35.7% | -2646.3% | ||
| Q2 25 | 46.4% | -854.5% | ||
| Q1 25 | 38.2% | — | ||
| Q4 24 | 42.6% | -1725.0% | ||
| Q3 24 | 24.1% | -423.4% | ||
| Q2 24 | 57.4% | -330.0% | ||
| Q1 24 | 35.6% | — |
| Q4 25 | $0.10 | $2.60 | ||
| Q3 25 | $0.29 | $-3.58 | ||
| Q2 25 | $0.45 | $-0.70 | ||
| Q1 25 | $0.35 | — | ||
| Q4 24 | $0.23 | $-0.95 | ||
| Q3 24 | $0.19 | $-0.24 | ||
| Q2 24 | $0.62 | $-0.18 | ||
| Q1 24 | $0.32 | — |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $201.9M | $2.4B |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $1.8B | $3.8B |
| Total Assets | $19.4B | $6.6B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $201.9M | $2.4B | ||
| Q3 25 | $184.8M | $1.1B | ||
| Q2 25 | $211.0M | $546.9M | ||
| Q1 25 | $203.3M | — | ||
| Q4 24 | $192.4M | $340.3M | ||
| Q3 24 | $217.7M | $365.7M | ||
| Q2 24 | $198.5M | $369.8M | ||
| Q1 24 | $187.5M | — |
| Q4 25 | $1.8B | $3.8B | ||
| Q3 25 | $1.8B | $2.3B | ||
| Q2 25 | $1.7B | $1.2B | ||
| Q1 25 | $1.6B | — | ||
| Q4 24 | $1.6B | $383.9M | ||
| Q3 24 | $1.6B | $435.7M | ||
| Q2 24 | $1.6B | $463.3M | ||
| Q1 24 | $1.5B | — |
| Q4 25 | $19.4B | $6.6B | ||
| Q3 25 | $17.8B | $4.3B | ||
| Q2 25 | $17.1B | $1.3B | ||
| Q1 25 | $16.6B | — | ||
| Q4 24 | $16.3B | $508.4M | ||
| Q3 24 | $16.0B | $497.9M | ||
| Q2 24 | $15.1B | $517.4M | ||
| Q1 24 | $15.1B | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $-925.5M | $-74.5M |
| Free Cash FlowOCF − Capex | — | $-83.3M |
| FCF MarginFCF / Revenue | — | -134.6% |
| Capex IntensityCapex / Revenue | 0.0% | 14.2% |
| Cash ConversionOCF / Net Profit | -40.92× | -0.10× |
| TTM Free Cash FlowTrailing 4 quarters | — | $-307.3M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-925.5M | $-74.5M | ||
| Q3 25 | $-290.4M | $-123.1M | ||
| Q2 25 | $-210.5M | $-52.6M | ||
| Q1 25 | $-126.4M | — | ||
| Q4 24 | $-430.5M | $-39.4M | ||
| Q3 24 | $-141.7M | $-19.2M | ||
| Q2 24 | $-88.6M | $-26.6M | ||
| Q1 24 | $-59.5M | — |
| Q4 25 | — | $-83.3M | ||
| Q3 25 | — | $-127.2M | ||
| Q2 25 | — | $-53.8M | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $-43.0M | ||
| Q3 24 | — | $-23.0M | ||
| Q2 24 | — | $-34.1M | ||
| Q1 24 | — | — |
| Q4 25 | — | -134.6% | ||
| Q3 25 | — | -319.1% | ||
| Q2 25 | — | -259.8% | ||
| Q1 25 | — | — | ||
| Q4 24 | — | -367.4% | ||
| Q3 24 | — | -185.3% | ||
| Q2 24 | — | -299.3% | ||
| Q1 24 | — | — |
| Q4 25 | 0.0% | 14.2% | ||
| Q3 25 | — | 10.4% | ||
| Q2 25 | — | 5.8% | ||
| Q1 25 | — | — | ||
| Q4 24 | 0.0% | 30.7% | ||
| Q3 24 | 0.0% | 30.4% | ||
| Q2 24 | 0.0% | 65.8% | ||
| Q1 24 | 0.0% | — |
| Q4 25 | -40.92× | -0.10× | ||
| Q3 25 | -9.84× | — | ||
| Q2 25 | -4.90× | — | ||
| Q1 25 | -3.99× | — | ||
| Q4 24 | -14.04× | — | ||
| Q3 24 | -8.76× | — | ||
| Q2 24 | -1.69× | — | ||
| Q1 24 | -2.21× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
EFC
Segment breakdown not available.
IONQ
| Other | $31.2M | 50% |
| Platform Consulting And Support Services | $30.7M | 50% |
