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Side-by-side financial comparison of IonQ, Inc. (IONQ) and MARINE PRODUCTS CORP (MPX). Click either name above to swap in a different company.
MARINE PRODUCTS CORP is the larger business by last-quarter revenue ($64.6M vs $61.9M, roughly 1.0× IonQ, Inc.). IonQ, Inc. runs the higher net margin — 1217.8% vs 3.7%, a 1214.1% gap on every dollar of revenue. On growth, IonQ, Inc. posted the faster year-over-year revenue change (428.5% vs 35.0%). MARINE PRODUCTS CORP produced more free cash flow last quarter ($4.1M vs $-83.3M).
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.
West Marine is an American company based in Fort Lauderdale, Florida, which operates a chain of boating supply and fishing retail stores. The company has 247 retail stores in North America. West Marine also runs Blue Future a non profit organization. West Marine's flagship store is in Fort Lauderdale. Opened on November 11, 2011, the store is the company's largest at over 50,000 square feet.
IONQ vs MPX — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $61.9M | $64.6M |
| Net Profit | $753.7M | $2.4M |
| Gross Margin | — | 19.6% |
| Operating Margin | -369.4% | 5.8% |
| Net Margin | 1217.8% | 3.7% |
| Revenue YoY | 428.5% | 35.0% |
| Net Profit YoY | 473.1% | -44.6% |
| EPS (diluted) | $2.60 | $0.07 |
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 | $64.6M | ||
| Q3 25 | $39.9M | $53.1M | ||
| Q2 25 | $20.7M | $67.7M | ||
| Q1 25 | — | $59.0M | ||
| Q4 24 | $11.7M | $47.8M | ||
| Q3 24 | $12.4M | $49.9M | ||
| Q2 24 | $11.4M | $69.5M | ||
| Q1 24 | — | $69.3M |
| Q4 25 | $753.7M | $2.4M | ||
| Q3 25 | $-1.1B | $2.6M | ||
| Q2 25 | $-176.8M | $4.2M | ||
| Q1 25 | — | $2.2M | ||
| Q4 24 | $-202.0M | $4.3M | ||
| Q3 24 | $-52.5M | $3.4M | ||
| Q2 24 | $-37.6M | $5.6M | ||
| Q1 24 | — | $4.6M |
| Q4 25 | — | 19.6% | ||
| Q3 25 | — | 19.2% | ||
| Q2 25 | — | 19.1% | ||
| Q1 25 | — | 18.6% | ||
| Q4 24 | — | 19.2% | ||
| Q3 24 | — | 18.4% | ||
| Q2 24 | — | 18.9% | ||
| Q1 24 | — | 20.2% |
| Q4 25 | -369.4% | 5.8% | ||
| Q3 25 | -423.5% | 5.4% | ||
| Q2 25 | -776.0% | 7.1% | ||
| Q1 25 | — | 4.4% | ||
| Q4 24 | -661.9% | 7.7% | ||
| Q3 24 | -428.5% | 7.2% | ||
| Q2 24 | -430.0% | 8.3% | ||
| Q1 24 | — | 7.6% |
| Q4 25 | 1217.8% | 3.7% | ||
| Q3 25 | -2646.3% | 5.0% | ||
| Q2 25 | -854.5% | 6.1% | ||
| Q1 25 | — | 3.7% | ||
| Q4 24 | -1725.0% | 8.9% | ||
| Q3 24 | -423.4% | 6.8% | ||
| Q2 24 | -330.0% | 8.0% | ||
| Q1 24 | — | 6.6% |
| Q4 25 | $2.60 | $0.07 | ||
| Q3 25 | $-3.58 | $0.07 | ||
| Q2 25 | $-0.70 | $0.12 | ||
| Q1 25 | — | $0.06 | ||
| Q4 24 | $-0.95 | $0.13 | ||
| Q3 24 | $-0.24 | $0.10 | ||
| Q2 24 | $-0.18 | $0.14 | ||
| Q1 24 | — | $0.13 |
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 | — |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $3.8B | $125.0M |
| Total Assets | $6.6B | $147.2M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $2.4B | — | ||
| Q3 25 | $1.1B | — | ||
| Q2 25 | $546.9M | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $340.3M | — | ||
| Q3 24 | $365.7M | — | ||
| Q2 24 | $369.8M | — | ||
| Q1 24 | — | — |
| Q4 25 | $3.8B | $125.0M | ||
| Q3 25 | $2.3B | $126.3M | ||
| Q2 25 | $1.2B | $127.2M | ||
| Q1 25 | — | $126.4M | ||
| Q4 24 | $383.9M | $129.0M | ||
| Q3 24 | $435.7M | $128.8M | ||
| Q2 24 | $463.3M | $129.3M | ||
| Q1 24 | — | $151.4M |
| Q4 25 | $6.6B | $147.2M | ||
| Q3 25 | $4.3B | $179.5M | ||
| Q2 25 | $1.3B | $173.2M | ||
| Q1 25 | — | $182.9M | ||
| Q4 24 | $508.4M | $171.2M | ||
| Q3 24 | $497.9M | $176.3M | ||
| Q2 24 | $517.4M | $175.7M | ||
| Q1 24 | — | $204.0M |
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 | $4.7M |
| Free Cash FlowOCF − Capex | $-83.3M | $4.1M |
| FCF MarginFCF / Revenue | -134.6% | 6.4% |
| Capex IntensityCapex / Revenue | 14.2% | 0.9% |
| Cash ConversionOCF / Net Profit | -0.10× | 2.00× |
| TTM Free Cash FlowTrailing 4 quarters | $-307.3M | $14.9M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-74.5M | $4.7M | ||
| Q3 25 | $-123.1M | $2.6M | ||
| Q2 25 | $-52.6M | $-1.6M | ||
| Q1 25 | — | $10.8M | ||
| Q4 24 | $-39.4M | $4.6M | ||
| Q3 24 | $-19.2M | $5.1M | ||
| Q2 24 | $-26.6M | $3.8M | ||
| Q1 24 | — | $15.9M |
| Q4 25 | $-83.3M | $4.1M | ||
| Q3 25 | $-127.2M | $2.1M | ||
| Q2 25 | $-53.8M | $-2.0M | ||
| Q1 25 | — | $10.7M | ||
| Q4 24 | $-43.0M | $3.6M | ||
| Q3 24 | $-23.0M | $3.2M | ||
| Q2 24 | $-34.1M | $3.0M | ||
| Q1 24 | — | $15.0M |
| Q4 25 | -134.6% | 6.4% | ||
| Q3 25 | -319.1% | 4.0% | ||
| Q2 25 | -259.8% | -3.0% | ||
| Q1 25 | — | 18.1% | ||
| Q4 24 | -367.4% | 7.6% | ||
| Q3 24 | -185.3% | 6.5% | ||
| Q2 24 | -299.3% | 4.4% | ||
| Q1 24 | — | 21.7% |
| Q4 25 | 14.2% | 0.9% | ||
| Q3 25 | 10.4% | 0.8% | ||
| Q2 25 | 5.8% | 0.6% | ||
| Q1 25 | — | 0.2% | ||
| Q4 24 | 30.7% | 2.1% | ||
| Q3 24 | 30.4% | 3.8% | ||
| Q2 24 | 65.8% | 1.1% | ||
| Q1 24 | — | 1.3% |
| Q4 25 | -0.10× | 2.00× | ||
| Q3 25 | — | 0.97× | ||
| Q2 25 | — | -0.39× | ||
| Q1 25 | — | 4.88× | ||
| Q4 24 | — | 1.09× | ||
| Q3 24 | — | 1.51× | ||
| Q2 24 | — | 0.68× | ||
| Q1 24 | — | 3.46× |
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% |
MPX
| Boats And Accessories | $63.4M | 98% |
| Parts | $1.1M | 2% |
