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Side-by-side financial comparison of IonQ, Inc. (IONQ) and LXP Industrial Trust (LXP). Click either name above to swap in a different company.
LXP Industrial Trust is the larger business by last-quarter revenue ($86.7M vs $61.9M, roughly 1.4× IonQ, Inc.). IonQ, Inc. runs the higher net margin — 1217.8% vs 33.2%, a 1184.6% gap on every dollar of revenue. On growth, IonQ, Inc. posted the faster year-over-year revenue change (428.5% vs -14.0%).
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.
LXP Industrial Trust is a publicly traded real estate investment trust (REIT) that owns, operates, and invests in high-quality industrial real estate assets, primarily distribution centers, logistics facilities, and light industrial properties across key markets in the United States. Its tenant base covers e-commerce, third-party logistics, and advanced manufacturing sectors, delivering stable long-term returns for its investors.
IONQ vs LXP — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $61.9M | $86.7M |
| Net Profit | $753.7M | $28.8M |
| Gross Margin | — | 81.5% |
| Operating Margin | -369.4% | 34.6% |
| Net Margin | 1217.8% | 33.2% |
| Revenue YoY | 428.5% | -14.0% |
| Net Profit YoY | 473.1% | — |
| EPS (diluted) | $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 | $61.9M | $86.7M | ||
| Q3 25 | $39.9M | $86.9M | ||
| Q2 25 | $20.7M | $87.7M | ||
| Q1 25 | — | $88.9M | ||
| Q4 24 | $11.7M | $100.9M | ||
| Q3 24 | $12.4M | $85.6M | ||
| Q2 24 | $11.4M | $85.8M | ||
| Q1 24 | — | $86.3M |
| Q4 25 | $753.7M | $28.8M | ||
| Q3 25 | $-1.1B | $36.3M | ||
| Q2 25 | $-176.8M | $29.1M | ||
| Q1 25 | — | $19.0M | ||
| Q4 24 | $-202.0M | — | ||
| Q3 24 | $-52.5M | $6.3M | ||
| Q2 24 | $-37.6M | $5.4M | ||
| Q1 24 | — | $-269.0K |
| Q4 25 | — | 81.5% | ||
| Q3 25 | — | 82.3% | ||
| Q2 25 | — | 81.9% | ||
| Q1 25 | — | 80.7% | ||
| Q4 24 | — | 85.3% | ||
| Q3 24 | — | 82.5% | ||
| Q2 24 | — | 82.0% | ||
| Q1 24 | — | 82.4% |
| Q4 25 | -369.4% | 34.6% | ||
| Q3 25 | -423.5% | 50.4% | ||
| Q2 25 | -776.0% | 33.7% | ||
| Q1 25 | — | 21.8% | ||
| Q4 24 | -661.9% | — | ||
| Q3 24 | -428.5% | 7.9% | ||
| Q2 24 | -430.0% | 6.9% | ||
| Q1 24 | — | 1.0% |
| Q4 25 | 1217.8% | 33.2% | ||
| Q3 25 | -2646.3% | 41.7% | ||
| Q2 25 | -854.5% | 33.2% | ||
| Q1 25 | — | 21.4% | ||
| Q4 24 | -1725.0% | — | ||
| Q3 24 | -423.4% | 7.4% | ||
| Q2 24 | -330.0% | 6.3% | ||
| Q1 24 | — | -0.3% |
| Q4 25 | $2.60 | — | ||
| Q3 25 | $-3.58 | $0.12 | ||
| Q2 25 | $-0.70 | $0.09 | ||
| Q1 25 | — | $0.06 | ||
| Q4 24 | $-0.95 | — | ||
| Q3 24 | $-0.24 | $0.02 | ||
| Q2 24 | $-0.18 | $0.01 | ||
| Q1 24 | — | $-0.01 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $2.4B | $170.4M |
| Total DebtLower is stronger | — | $1.4B |
| Stockholders' EquityBook value | $3.8B | $2.0B |
| Total Assets | $6.6B | $3.5B |
| Debt / EquityLower = less leverage | — | 0.66× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $2.4B | $170.4M | ||
| Q3 25 | $1.1B | $229.7M | ||
| Q2 25 | $546.9M | $71.0M | ||
| Q1 25 | — | $70.9M | ||
| Q4 24 | $340.3M | $101.8M | ||
| Q3 24 | $365.7M | $55.0M | ||
| Q2 24 | $369.8M | $48.7M | ||
| Q1 24 | — | $293.8M |
| Q4 25 | — | $1.4B | ||
| Q3 25 | — | $1.5B | ||
| Q2 25 | — | $1.5B | ||
| Q1 25 | — | $1.5B | ||
| Q4 24 | — | $1.6B | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $3.8B | $2.0B | ||
| Q3 25 | $2.3B | $2.1B | ||
| Q2 25 | $1.2B | $2.1B | ||
| Q1 25 | — | $2.1B | ||
| Q4 24 | $383.9M | $2.1B | ||
| Q3 24 | $435.7M | $2.1B | ||
| Q2 24 | $463.3M | $2.1B | ||
| Q1 24 | — | $2.2B |
| Q4 25 | $6.6B | $3.5B | ||
| Q3 25 | $4.3B | $3.7B | ||
| Q2 25 | $1.3B | $3.7B | ||
| Q1 25 | — | $3.8B | ||
| Q4 24 | $508.4M | $3.8B | ||
| Q3 24 | $497.9M | $3.9B | ||
| Q2 24 | $517.4M | $3.9B | ||
| Q1 24 | — | $4.2B |
| Q4 25 | — | 0.66× | ||
| Q3 25 | — | 0.72× | ||
| Q2 25 | — | 0.72× | ||
| Q1 25 | — | 0.73× | ||
| Q4 24 | — | 0.75× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
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 | $-74.5M | $188.7M |
| Free Cash FlowOCF − Capex | $-83.3M | — |
| FCF MarginFCF / Revenue | -134.6% | — |
| Capex IntensityCapex / Revenue | 14.2% | — |
| Cash ConversionOCF / Net Profit | -0.10× | 6.56× |
| TTM Free Cash FlowTrailing 4 quarters | $-307.3M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-74.5M | $188.7M | ||
| Q3 25 | $-123.1M | $63.5M | ||
| Q2 25 | $-52.6M | $44.3M | ||
| Q1 25 | — | $39.0M | ||
| Q4 24 | $-39.4M | $211.2M | ||
| Q3 24 | $-19.2M | $64.6M | ||
| Q2 24 | $-26.6M | $38.5M | ||
| Q1 24 | — | $38.9M |
| 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 | 14.2% | — | ||
| Q3 25 | 10.4% | — | ||
| Q2 25 | 5.8% | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 30.7% | — | ||
| Q3 24 | 30.4% | — | ||
| Q2 24 | 65.8% | — | ||
| Q1 24 | — | — |
| Q4 25 | -0.10× | 6.56× | ||
| Q3 25 | — | 1.75× | ||
| Q2 25 | — | 1.52× | ||
| Q1 25 | — | 2.05× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 10.18× | ||
| Q2 24 | — | 7.09× | ||
| Q1 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
IONQ
| Other | $31.2M | 50% |
| Platform Consulting And Support Services | $30.7M | 50% |
LXP
Segment breakdown not available.
