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Side-by-side financial comparison of IonQ, Inc. (IONQ) and TWIN DISC INC (TWIN). Click either name above to swap in a different company.
TWIN DISC INC is the larger business by last-quarter revenue ($90.2M vs $61.9M, roughly 1.5× IonQ, Inc.). IonQ, Inc. runs the higher net margin — 1217.8% vs 24.8%, a 1192.9% gap on every dollar of revenue. On growth, IonQ, Inc. posted the faster year-over-year revenue change (428.5% vs 0.3%). TWIN DISC INC produced more free cash flow last quarter ($1.2M 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.
Twin Disc, Inc. designs, manufactures, and distributes power transmission equipment for a wide range of applications, including marine, off-road vehicle, and industrial. The company was founded in 1918 to manufacture clutches for farm tractors. It is now a worldwide company with subsidiaries or sales offices in Asia, Europe, North America, Oceania, and South America.
IONQ vs TWIN — Head-to-Head
Income Statement — Q4 FY2025 vs Q2 FY2026
| Metric | | |
|---|---|---|
| Revenue | $61.9M | $90.2M |
| Net Profit | $753.7M | $22.4M |
| Gross Margin | — | 24.8% |
| Operating Margin | -369.4% | 2.3% |
| Net Margin | 1217.8% | 24.8% |
| Revenue YoY | 428.5% | 0.3% |
| Net Profit YoY | 473.1% | 2334.3% |
| EPS (diluted) | $2.60 | $1.55 |
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 | $90.2M | ||
| Q3 25 | $39.9M | $80.0M | ||
| Q2 25 | $20.7M | $96.7M | ||
| Q1 25 | — | $81.2M | ||
| Q4 24 | $11.7M | $89.9M | ||
| Q3 24 | $12.4M | $72.9M | ||
| Q2 24 | $11.4M | $84.4M | ||
| Q1 24 | — | $74.2M |
| Q4 25 | $753.7M | $22.4M | ||
| Q3 25 | $-1.1B | $-518.0K | ||
| Q2 25 | $-176.8M | $1.4M | ||
| Q1 25 | — | $-1.5M | ||
| Q4 24 | $-202.0M | $919.0K | ||
| Q3 24 | $-52.5M | $-2.8M | ||
| Q2 24 | $-37.6M | $7.4M | ||
| Q1 24 | — | $3.8M |
| Q4 25 | — | 24.8% | ||
| Q3 25 | — | 28.7% | ||
| Q2 25 | — | 31.0% | ||
| Q1 25 | — | 26.7% | ||
| Q4 24 | — | 24.1% | ||
| Q3 24 | — | 26.5% | ||
| Q2 24 | — | 29.7% | ||
| Q1 24 | — | 28.2% |
| Q4 25 | -369.4% | 2.3% | ||
| Q3 25 | -423.5% | 2.8% | ||
| Q2 25 | -776.0% | 5.5% | ||
| Q1 25 | — | 2.4% | ||
| Q4 24 | -661.9% | 3.1% | ||
| Q3 24 | -428.5% | -0.2% | ||
| Q2 24 | -430.0% | 5.6% | ||
| Q1 24 | — | 4.9% |
| Q4 25 | 1217.8% | 24.8% | ||
| Q3 25 | -2646.3% | -0.6% | ||
| Q2 25 | -854.5% | 1.5% | ||
| Q1 25 | — | -1.8% | ||
| Q4 24 | -1725.0% | 1.0% | ||
| Q3 24 | -423.4% | -3.8% | ||
| Q2 24 | -330.0% | 8.8% | ||
| Q1 24 | — | 5.2% |
| Q4 25 | $2.60 | $1.55 | ||
| Q3 25 | $-3.58 | $-0.04 | ||
| Q2 25 | $-0.70 | $0.10 | ||
| Q1 25 | — | $-0.11 | ||
| Q4 24 | $-0.95 | $0.07 | ||
| Q3 24 | $-0.24 | $-0.20 | ||
| Q2 24 | $-0.18 | $0.54 | ||
| Q1 24 | — | $0.27 |
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 | — | $44.5M |
| Stockholders' EquityBook value | $3.8B | $184.5M |
| Total Assets | $6.6B | $384.0M |
| Debt / EquityLower = less leverage | — | 0.24× |
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 | — | $44.5M | ||
| Q3 25 | — | $43.7M | ||
| Q2 25 | — | $31.4M | ||
| Q1 25 | — | $40.8M | ||
| Q4 24 | — | $24.9M | ||
| Q3 24 | — | $29.8M | ||
| Q2 24 | — | $25.8M | ||
| Q1 24 | — | $17.0M |
| Q4 25 | $3.8B | $184.5M | ||
| Q3 25 | $2.3B | $160.3M | ||
| Q2 25 | $1.2B | $164.0M | ||
| Q1 25 | — | $149.5M | ||
| Q4 24 | $383.9M | $147.0M | ||
| Q3 24 | $435.7M | $157.5M | ||
| Q2 24 | $463.3M | $154.7M | ||
| Q1 24 | — | $146.3M |
| Q4 25 | $6.6B | $384.0M | ||
| Q3 25 | $4.3B | $363.5M | ||
| Q2 25 | $1.3B | $355.6M | ||
| Q1 25 | — | $332.9M | ||
| Q4 24 | $508.4M | $307.4M | ||
| Q3 24 | $497.9M | $323.5M | ||
| Q2 24 | $517.4M | $312.1M | ||
| Q1 24 | — | $288.8M |
| Q4 25 | — | 0.24× | ||
| Q3 25 | — | 0.27× | ||
| Q2 25 | — | 0.19× | ||
| Q1 25 | — | 0.27× | ||
| Q4 24 | — | 0.17× | ||
| Q3 24 | — | 0.19× | ||
| Q2 24 | — | 0.17× | ||
| Q1 24 | — | 0.12× |
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 | $4.6M |
| Free Cash FlowOCF − Capex | $-83.3M | $1.2M |
| FCF MarginFCF / Revenue | -134.6% | 1.4% |
| Capex IntensityCapex / Revenue | 14.2% | 3.7% |
| Cash ConversionOCF / Net Profit | -0.10× | 0.20× |
| TTM Free Cash FlowTrailing 4 quarters | $-307.3M | $-70.0K |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-74.5M | $4.6M | ||
| Q3 25 | $-123.1M | $-7.5M | ||
| Q2 25 | $-52.6M | $16.4M | ||
| Q1 25 | — | $3.2M | ||
| Q4 24 | $-39.4M | $8.7M | ||
| Q3 24 | $-19.2M | $-4.3M | ||
| Q2 24 | $-26.6M | $11.4M | ||
| Q1 24 | — | $6.2M |
| Q4 25 | $-83.3M | $1.2M | ||
| Q3 25 | $-127.2M | $-11.0M | ||
| Q2 25 | $-53.8M | $8.7M | ||
| Q1 25 | — | $906.0K | ||
| Q4 24 | $-43.0M | $5.9M | ||
| Q3 24 | $-23.0M | $-6.7M | ||
| Q2 24 | $-34.1M | $10.3M | ||
| Q1 24 | — | $4.0M |
| Q4 25 | -134.6% | 1.4% | ||
| Q3 25 | -319.1% | -13.7% | ||
| Q2 25 | -259.8% | 9.0% | ||
| Q1 25 | — | 1.1% | ||
| Q4 24 | -367.4% | 6.5% | ||
| Q3 24 | -185.3% | -9.2% | ||
| Q2 24 | -299.3% | 12.2% | ||
| Q1 24 | — | 5.5% |
| Q4 25 | 14.2% | 3.7% | ||
| Q3 25 | 10.4% | 4.3% | ||
| Q2 25 | 5.8% | 8.0% | ||
| Q1 25 | — | 2.8% | ||
| Q4 24 | 30.7% | 3.1% | ||
| Q3 24 | 30.4% | 3.2% | ||
| Q2 24 | 65.8% | 1.3% | ||
| Q1 24 | — | 2.9% |
| Q4 25 | -0.10× | 0.20× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | 11.55× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 9.42× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | 1.54× | ||
| Q1 24 | — | 1.63× |
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% |
TWIN
Segment breakdown not available.
