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Side-by-side financial comparison of IonQ, Inc. (IONQ) and MFA FINANCIAL, INC. (MFA). Click either name above to swap in a different company.
IonQ, Inc. is the larger business by last-quarter revenue ($61.9M vs $55.5M, roughly 1.1× MFA FINANCIAL, INC.). On growth, IonQ, Inc. posted the faster year-over-year revenue change (428.5% vs 9.2%).
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.
MFA Financial, Inc. is a U.S.-headquartered real estate investment trust (REIT) specializing in investing in and managing residential and commercial mortgage-backed securities, mortgage loans, and other real estate-related financial assets. It caters primarily to institutional and individual investors across the U.S., focusing on delivering stable risk-adjusted returns via rigorous asset screening and risk management frameworks.
IONQ vs MFA — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $61.9M | $55.5M |
| Net Profit | $753.7M | — |
| Gross Margin | — | — |
| Operating Margin | -369.4% | 97.9% |
| Net Margin | 1217.8% | — |
| Revenue YoY | 428.5% | 9.2% |
| Net Profit YoY | 473.1% | — |
| EPS (diluted) | $2.60 | $0.43 |
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 | $55.5M | ||
| Q3 25 | $39.9M | $56.8M | ||
| Q2 25 | $20.7M | $61.3M | ||
| Q1 25 | — | $57.5M | ||
| Q4 24 | $11.7M | $50.8M | ||
| Q3 24 | $12.4M | $50.6M | ||
| Q2 24 | $11.4M | $53.5M | ||
| Q1 24 | — | $47.8M |
| Q4 25 | $753.7M | — | ||
| Q3 25 | $-1.1B | $48.1M | ||
| Q2 25 | $-176.8M | $33.2M | ||
| Q1 25 | — | $41.2M | ||
| Q4 24 | $-202.0M | — | ||
| Q3 24 | $-52.5M | $48.2M | ||
| Q2 24 | $-37.6M | $41.9M | ||
| Q1 24 | — | $23.2M |
| Q4 25 | -369.4% | 97.9% | ||
| Q3 25 | -423.5% | 84.5% | ||
| Q2 25 | -776.0% | 54.5% | ||
| Q1 25 | — | 70.0% | ||
| Q4 24 | -661.9% | 6.8% | ||
| Q3 24 | -428.5% | 98.2% | ||
| Q2 24 | -430.0% | 79.1% | ||
| Q1 24 | — | 50.7% |
| Q4 25 | 1217.8% | — | ||
| Q3 25 | -2646.3% | 84.7% | ||
| Q2 25 | -854.5% | 54.2% | ||
| Q1 25 | — | 71.6% | ||
| Q4 24 | -1725.0% | — | ||
| Q3 24 | -423.4% | 95.2% | ||
| Q2 24 | -330.0% | 78.4% | ||
| Q1 24 | — | 48.5% |
| Q4 25 | $2.60 | $0.43 | ||
| Q3 25 | $-3.58 | $0.35 | ||
| Q2 25 | $-0.70 | $0.21 | ||
| Q1 25 | — | $0.31 | ||
| Q4 24 | $-0.95 | $-0.01 | ||
| Q3 24 | $-0.24 | $0.37 | ||
| Q2 24 | $-0.18 | $0.32 | ||
| Q1 24 | — | $0.14 |
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 | $213.2M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $3.8B | $1.8B |
| Total Assets | $6.6B | $13.0B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $2.4B | $213.2M | ||
| Q3 25 | $1.1B | $305.2M | ||
| Q2 25 | $546.9M | $275.7M | ||
| Q1 25 | — | $253.7M | ||
| Q4 24 | $340.3M | $338.9M | ||
| Q3 24 | $365.7M | $305.6M | ||
| Q2 24 | $369.8M | $289.4M | ||
| Q1 24 | — | $306.3M |
| Q4 25 | $3.8B | $1.8B | ||
| Q3 25 | $2.3B | $1.8B | ||
| Q2 25 | $1.2B | $1.8B | ||
| Q1 25 | — | $1.8B | ||
| Q4 24 | $383.9M | $1.8B | ||
| Q3 24 | $435.7M | $1.9B | ||
| Q2 24 | $463.3M | $1.9B | ||
| Q1 24 | — | $1.9B |
| Q4 25 | $6.6B | $13.0B | ||
| Q3 25 | $4.3B | $12.1B | ||
| Q2 25 | $1.3B | $11.7B | ||
| Q1 25 | — | $11.5B | ||
| Q4 24 | $508.4M | $11.4B | ||
| Q3 24 | $497.9M | $11.2B | ||
| Q2 24 | $517.4M | $11.1B | ||
| Q1 24 | — | $10.9B |
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 | $76.2M |
| Free Cash FlowOCF − Capex | $-83.3M | — |
| FCF MarginFCF / Revenue | -134.6% | — |
| Capex IntensityCapex / Revenue | 14.2% | — |
| Cash ConversionOCF / Net Profit | -0.10× | — |
| TTM Free Cash FlowTrailing 4 quarters | $-307.3M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-74.5M | $76.2M | ||
| Q3 25 | $-123.1M | $14.7M | ||
| Q2 25 | $-52.6M | $38.5M | ||
| Q1 25 | — | $-14.6M | ||
| Q4 24 | $-39.4M | $200.1M | ||
| Q3 24 | $-19.2M | $-11.3M | ||
| Q2 24 | $-26.6M | $46.5M | ||
| Q1 24 | — | $53.5M |
| 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 | 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× | — | ||
| Q3 25 | — | 0.31× | ||
| Q2 25 | — | 1.16× | ||
| Q1 25 | — | -0.35× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | -0.23× | ||
| Q2 24 | — | 1.11× | ||
| Q1 24 | — | 2.30× |
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% |
MFA
Segment breakdown not available.
