vs
Side-by-side financial comparison of IonQ, Inc. (IONQ) and Safehold Inc. (SAFE). Click either name above to swap in a different company.
Safehold Inc. is the larger business by last-quarter revenue ($97.9M vs $61.9M, roughly 1.6× IonQ, Inc.). IonQ, Inc. runs the higher net margin — 1217.8% vs 28.5%, a 1189.3% gap on every dollar of revenue. On growth, IonQ, Inc. posted the faster year-over-year revenue change (428.5% vs 6.5%).
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.
SAFE Investment Company Limited is a Chinese sovereign wealth fund based in Hong Kong.
IONQ vs SAFE — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $61.9M | $97.9M |
| Net Profit | $753.7M | $27.9M |
| Gross Margin | — | 98.6% |
| Operating Margin | -369.4% | 27.4% |
| Net Margin | 1217.8% | 28.5% |
| Revenue YoY | 428.5% | 6.5% |
| Net Profit YoY | 473.1% | 7.1% |
| EPS (diluted) | $2.60 | $0.38 |
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 | $97.9M | ||
| Q3 25 | $39.9M | $96.2M | ||
| Q2 25 | $20.7M | $93.8M | ||
| Q1 25 | — | $97.7M | ||
| Q4 24 | $11.7M | $91.9M | ||
| Q3 24 | $12.4M | $90.7M | ||
| Q2 24 | $11.4M | $89.9M | ||
| Q1 24 | — | $93.2M |
| Q4 25 | $753.7M | $27.9M | ||
| Q3 25 | $-1.1B | $29.3M | ||
| Q2 25 | $-176.8M | $27.9M | ||
| Q1 25 | — | $29.4M | ||
| Q4 24 | $-202.0M | $26.0M | ||
| Q3 24 | $-52.5M | $19.3M | ||
| Q2 24 | $-37.6M | $29.7M | ||
| Q1 24 | — | $30.7M |
| Q4 25 | — | 98.6% | ||
| Q3 25 | — | 98.5% | ||
| Q2 25 | — | 99.1% | ||
| Q1 25 | — | 98.8% | ||
| Q4 24 | — | 98.8% | ||
| Q3 24 | — | 98.8% | ||
| Q2 24 | — | 98.8% | ||
| Q1 24 | — | 98.8% |
| Q4 25 | -369.4% | 27.4% | ||
| Q3 25 | -423.5% | 25.9% | ||
| Q2 25 | -776.0% | 25.5% | ||
| Q1 25 | — | 25.9% | ||
| Q4 24 | -661.9% | 24.6% | ||
| Q3 24 | -428.5% | 17.5% | ||
| Q2 24 | -430.0% | 26.7% | ||
| Q1 24 | — | 26.4% |
| Q4 25 | 1217.8% | 28.5% | ||
| Q3 25 | -2646.3% | 30.5% | ||
| Q2 25 | -854.5% | 29.8% | ||
| Q1 25 | — | 30.1% | ||
| Q4 24 | -1725.0% | 28.3% | ||
| Q3 24 | -423.4% | 21.3% | ||
| Q2 24 | -330.0% | 33.0% | ||
| Q1 24 | — | 33.0% |
| Q4 25 | $2.60 | $0.38 | ||
| Q3 25 | $-3.58 | $0.41 | ||
| Q2 25 | $-0.70 | $0.39 | ||
| Q1 25 | — | $0.41 | ||
| Q4 24 | $-0.95 | $0.36 | ||
| Q3 24 | $-0.24 | $0.27 | ||
| Q2 24 | $-0.18 | $0.42 | ||
| Q1 24 | — | $0.43 |
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 | $21.7M |
| Total DebtLower is stronger | — | $4.6B |
| Stockholders' EquityBook value | $3.8B | $2.4B |
| Total Assets | $6.6B | $7.2B |
| Debt / EquityLower = less leverage | — | 1.90× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $2.4B | $21.7M | ||
| Q3 25 | $1.1B | $12.1M | ||
| Q2 25 | $546.9M | $13.9M | ||
| Q1 25 | — | $17.3M | ||
| Q4 24 | $340.3M | $8.3M | ||
| Q3 24 | $365.7M | $15.6M | ||
| Q2 24 | $369.8M | $13.4M | ||
| Q1 24 | — | $11.3M |
| Q4 25 | — | $4.6B | ||
| Q3 25 | — | $4.5B | ||
| Q2 25 | — | $4.4B | ||
| Q1 25 | — | $4.3B | ||
| Q4 24 | — | $4.3B | ||
| Q3 24 | — | $4.3B | ||
| Q2 24 | — | $4.2B | ||
| Q1 24 | — | $4.1B |
| Q4 25 | $3.8B | $2.4B | ||
| Q3 25 | $2.3B | $2.4B | ||
| Q2 25 | $1.2B | $2.4B | ||
| Q1 25 | — | $2.4B | ||
| Q4 24 | $383.9M | $2.3B | ||
| Q3 24 | $435.7M | $2.3B | ||
| Q2 24 | $463.3M | $2.3B | ||
| Q1 24 | — | $2.3B |
| Q4 25 | $6.6B | $7.2B | ||
| Q3 25 | $4.3B | $7.1B | ||
| Q2 25 | $1.3B | $7.1B | ||
| Q1 25 | — | $6.9B | ||
| Q4 24 | $508.4M | $6.9B | ||
| Q3 24 | $497.9M | $6.8B | ||
| Q2 24 | $517.4M | $6.8B | ||
| Q1 24 | — | $6.7B |
| Q4 25 | — | 1.90× | ||
| Q3 25 | — | 1.89× | ||
| Q2 25 | — | 1.87× | ||
| Q1 25 | — | 1.85× | ||
| Q4 24 | — | 1.84× | ||
| Q3 24 | — | 1.88× | ||
| Q2 24 | — | 1.81× | ||
| Q1 24 | — | 1.81× |
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 | $47.8M |
| Free Cash FlowOCF − Capex | $-83.3M | — |
| FCF MarginFCF / Revenue | -134.6% | — |
| Capex IntensityCapex / Revenue | 14.2% | — |
| Cash ConversionOCF / Net Profit | -0.10× | 1.72× |
| TTM Free Cash FlowTrailing 4 quarters | $-307.3M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-74.5M | $47.8M | ||
| Q3 25 | $-123.1M | $-1.4M | ||
| Q2 25 | $-52.6M | $28.0M | ||
| Q1 25 | — | $8.9M | ||
| Q4 24 | $-39.4M | $37.9M | ||
| Q3 24 | $-19.2M | $8.3M | ||
| Q2 24 | $-26.6M | $24.8M | ||
| Q1 24 | — | $-3.1M |
| 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× | 1.72× | ||
| Q3 25 | — | -0.05× | ||
| Q2 25 | — | 1.00× | ||
| Q1 25 | — | 0.30× | ||
| Q4 24 | — | 1.45× | ||
| Q3 24 | — | 0.43× | ||
| Q2 24 | — | 0.83× | ||
| Q1 24 | — | -0.10× |
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% |
SAFE
| Equity Method Investment Nonconsolidated Investee Or Group Of Investees | $60.3M | 62% |
| Other | $33.7M | 34% |
| Stabilized Properties | $3.8M | 4% |
