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Side-by-side financial comparison of IonQ, Inc. (IONQ) and PennyMac Mortgage Investment Trust (PMT). Click either name above to swap in a different company.
PennyMac Mortgage Investment Trust is the larger business by last-quarter revenue ($93.6M vs $61.9M, roughly 1.5× IonQ, Inc.). IonQ, Inc. runs the higher net margin — 1217.8% vs 56.0%, a 1161.8% gap on every dollar of revenue. On growth, IonQ, Inc. posted the faster year-over-year revenue change (428.5% vs -13.3%).
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.
PennyMac Mortgage Investment Trust is a U.S.-headquartered real estate investment trust specializing in residential mortgage assets. It invests in performing and non-performing mortgage loans, mortgage-backed securities, and credit risk transfer instruments, operating across investment management and mortgage servicing segments in the U.S. housing market.
IONQ vs PMT — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $61.9M | $93.6M |
| Net Profit | $753.7M | $52.4M |
| Gross Margin | — | — |
| Operating Margin | -369.4% | 38.6% |
| Net Margin | 1217.8% | 56.0% |
| Revenue YoY | 428.5% | -13.3% |
| Net Profit YoY | 473.1% | 12.5% |
| EPS (diluted) | $2.60 | $0.49 |
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 | $93.6M | ||
| Q3 25 | $39.9M | $99.2M | ||
| Q2 25 | $20.7M | $70.2M | ||
| Q1 25 | — | $44.5M | ||
| Q4 24 | $11.7M | $107.9M | ||
| Q3 24 | $12.4M | $80.9M | ||
| Q2 24 | $11.4M | $71.2M | ||
| Q1 24 | — | $74.2M |
| Q4 25 | $753.7M | $52.4M | ||
| Q3 25 | $-1.1B | $58.3M | ||
| Q2 25 | $-176.8M | $7.5M | ||
| Q1 25 | — | $9.7M | ||
| Q4 24 | $-202.0M | $46.5M | ||
| Q3 24 | $-52.5M | $41.4M | ||
| Q2 24 | $-37.6M | $25.4M | ||
| Q1 24 | — | $47.6M |
| Q4 25 | -369.4% | 38.6% | ||
| Q3 25 | -423.5% | 47.4% | ||
| Q2 25 | -776.0% | 24.2% | ||
| Q1 25 | — | -14.2% | ||
| Q4 24 | -661.9% | 51.1% | ||
| Q3 24 | -428.5% | 32.8% | ||
| Q2 24 | -430.0% | 40.2% | ||
| Q1 24 | — | 43.6% |
| Q4 25 | 1217.8% | 56.0% | ||
| Q3 25 | -2646.3% | 58.7% | ||
| Q2 25 | -854.5% | 10.7% | ||
| Q1 25 | — | 21.8% | ||
| Q4 24 | -1725.0% | 43.1% | ||
| Q3 24 | -423.4% | 51.2% | ||
| Q2 24 | -330.0% | 35.7% | ||
| Q1 24 | — | 64.2% |
| Q4 25 | $2.60 | $0.49 | ||
| Q3 25 | $-3.58 | $0.55 | ||
| Q2 25 | $-0.70 | $-0.04 | ||
| Q1 25 | — | $-0.01 | ||
| Q4 24 | $-0.95 | $0.45 | ||
| Q3 24 | $-0.24 | $0.36 | ||
| Q2 24 | $-0.18 | $0.17 | ||
| Q1 24 | — | $0.39 |
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 | $190.5M |
| Total DebtLower is stronger | — | $1.1B |
| Stockholders' EquityBook value | $3.8B | $1.9B |
| Total Assets | $6.6B | $21.3B |
| Debt / EquityLower = less leverage | — | 0.58× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $2.4B | $190.5M | ||
| Q3 25 | $1.1B | $181.0M | ||
| Q2 25 | $546.9M | $108.6M | ||
| Q1 25 | — | $204.2M | ||
| Q4 24 | $340.3M | $103.2M | ||
| Q3 24 | $365.7M | $102.8M | ||
| Q2 24 | $369.8M | $336.3M | ||
| Q1 24 | — | $343.3M |
| Q4 25 | — | $1.1B | ||
| Q3 25 | — | $299.0M | ||
| Q2 25 | — | $1.2B | ||
| Q1 25 | — | $968.4M | ||
| Q4 24 | — | $1.0B | ||
| Q3 24 | — | $5.2B | ||
| Q2 24 | — | $5.4B | ||
| Q1 24 | — | $5.1B |
| Q4 25 | $3.8B | $1.9B | ||
| Q3 25 | $2.3B | $1.9B | ||
| Q2 25 | $1.2B | $1.9B | ||
| Q1 25 | — | $1.9B | ||
| Q4 24 | $383.9M | $1.9B | ||
| Q3 24 | $435.7M | $1.9B | ||
| Q2 24 | $463.3M | $1.9B | ||
| Q1 24 | — | $2.0B |
| Q4 25 | $6.6B | $21.3B | ||
| Q3 25 | $4.3B | $18.5B | ||
| Q2 25 | $1.3B | $16.8B | ||
| Q1 25 | — | $14.9B | ||
| Q4 24 | $508.4M | $14.4B | ||
| Q3 24 | $497.9M | $13.1B | ||
| Q2 24 | $517.4M | $12.1B | ||
| Q1 24 | — | $12.3B |
| Q4 25 | — | 0.58× | ||
| Q3 25 | — | 0.16× | ||
| Q2 25 | — | 0.65× | ||
| Q1 25 | — | 0.51× | ||
| Q4 24 | — | 0.52× | ||
| Q3 24 | — | 2.70× | ||
| Q2 24 | — | 2.76× | ||
| Q1 24 | — | 2.60× |
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 | $-7.2B |
| Free Cash FlowOCF − Capex | $-83.3M | — |
| FCF MarginFCF / Revenue | -134.6% | — |
| Capex IntensityCapex / Revenue | 14.2% | — |
| Cash ConversionOCF / Net Profit | -0.10× | -137.76× |
| TTM Free Cash FlowTrailing 4 quarters | $-307.3M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-74.5M | $-7.2B | ||
| Q3 25 | $-123.1M | $-1.3B | ||
| Q2 25 | $-52.6M | $-2.0B | ||
| Q1 25 | — | $-594.3M | ||
| Q4 24 | $-39.4M | $-2.7B | ||
| Q3 24 | $-19.2M | $-983.8M | ||
| Q2 24 | $-26.6M | $243.8M | ||
| Q1 24 | — | $-342.4M |
| 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× | -137.76× | ||
| Q3 25 | — | -22.26× | ||
| Q2 25 | — | -267.53× | ||
| Q1 25 | — | -61.39× | ||
| Q4 24 | — | -58.08× | ||
| Q3 24 | — | -23.76× | ||
| Q2 24 | — | 9.59× | ||
| Q1 24 | — | -7.19× |
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% |
PMT
| Other | $55.0M | 59% |
| Interest Rate Sensitive Strategies | $31.4M | 34% |
| Correspondent Production | $7.2M | 8% |
