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Side-by-side financial comparison of IonQ, Inc. (IONQ) and Whitestone REIT (WSR). Click either name above to swap in a different company.
IonQ, Inc. is the larger business by last-quarter revenue ($61.9M vs $43.9M, roughly 1.4× Whitestone REIT). IonQ, Inc. runs the higher net margin — 1217.8% vs 52.0%, a 1165.7% gap on every dollar of revenue. On growth, IonQ, Inc. posted the faster year-over-year revenue change (428.5% vs 7.5%). Whitestone REIT produced more free cash flow last quarter ($50.5M 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.
Whitestone REIT is a publicly traded real estate investment trust that acquires, owns, manages and redevelops open-air community shopping centers, primarily located in high-growth metropolitan areas across the southwestern and southeastern United States. Its property portfolio is largely anchored by daily necessity, service-focused retail tenants that cater to regular local consumer demand.
IONQ vs WSR — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $61.9M | $43.9M |
| Net Profit | $753.7M | $22.8M |
| Gross Margin | — | — |
| Operating Margin | -369.4% | 53.0% |
| Net Margin | 1217.8% | 52.0% |
| Revenue YoY | 428.5% | 7.5% |
| Net Profit YoY | 473.1% | 31.7% |
| 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 | $43.9M | ||
| Q3 25 | $39.9M | $41.0M | ||
| Q2 25 | $20.7M | $37.9M | ||
| Q1 25 | — | $38.0M | ||
| Q4 24 | $11.7M | $40.8M | ||
| Q3 24 | $12.4M | $38.6M | ||
| Q2 24 | $11.4M | $37.6M | ||
| Q1 24 | — | $37.2M |
| Q4 25 | $753.7M | $22.8M | ||
| Q3 25 | $-1.1B | $18.3M | ||
| Q2 25 | $-176.8M | $5.1M | ||
| Q1 25 | — | $3.7M | ||
| Q4 24 | $-202.0M | $17.3M | ||
| Q3 24 | $-52.5M | $7.6M | ||
| Q2 24 | $-37.6M | $2.6M | ||
| Q1 24 | — | $9.3M |
| Q4 25 | -369.4% | 53.0% | ||
| Q3 25 | -423.5% | 45.5% | ||
| Q2 25 | -776.0% | 13.8% | ||
| Q1 25 | — | 10.2% | ||
| Q4 24 | -661.9% | 43.3% | ||
| Q3 24 | -428.5% | 20.3% | ||
| Q2 24 | -430.0% | 7.2% | ||
| Q1 24 | — | 25.9% |
| Q4 25 | 1217.8% | 52.0% | ||
| Q3 25 | -2646.3% | 44.7% | ||
| Q2 25 | -854.5% | 13.3% | ||
| Q1 25 | — | 9.7% | ||
| Q4 24 | -1725.0% | 42.5% | ||
| Q3 24 | -423.4% | 19.7% | ||
| Q2 24 | -330.0% | 6.9% | ||
| Q1 24 | — | 25.1% |
| Q4 25 | $2.60 | $0.43 | ||
| Q3 25 | $-3.58 | $0.35 | ||
| Q2 25 | $-0.70 | $0.10 | ||
| Q1 25 | — | $0.07 | ||
| Q4 24 | $-0.95 | $0.34 | ||
| Q3 24 | $-0.24 | $0.15 | ||
| Q2 24 | $-0.18 | $0.05 | ||
| Q1 24 | — | $0.18 |
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 | $4.9M |
| Total DebtLower is stronger | — | $649.4M |
| Stockholders' EquityBook value | $3.8B | $458.1M |
| Total Assets | $6.6B | $1.2B |
| Debt / EquityLower = less leverage | — | 1.42× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $2.4B | $4.9M | ||
| Q3 25 | $1.1B | $6.8M | ||
| Q2 25 | $546.9M | $5.3M | ||
| Q1 25 | — | $5.6M | ||
| Q4 24 | $340.3M | $5.2M | ||
| Q3 24 | $365.7M | $2.5M | ||
| Q2 24 | $369.8M | $3.2M | ||
| Q1 24 | — | $6.2M |
| Q4 25 | — | $649.4M | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $632.5M | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $3.8B | $458.1M | ||
| Q3 25 | $2.3B | $439.5M | ||
| Q2 25 | $1.2B | $427.5M | ||
| Q1 25 | — | $431.0M | ||
| Q4 24 | $383.9M | $438.2M | ||
| Q3 24 | $435.7M | $419.5M | ||
| Q2 24 | $463.3M | $418.3M | ||
| Q1 24 | — | $421.6M |
| Q4 25 | $6.6B | $1.2B | ||
| Q3 25 | $4.3B | $1.1B | ||
| Q2 25 | $1.3B | $1.2B | ||
| Q1 25 | — | $1.1B | ||
| Q4 24 | $508.4M | $1.1B | ||
| Q3 24 | $497.9M | $1.1B | ||
| Q2 24 | $517.4M | $1.1B | ||
| Q1 24 | — | $1.1B |
| Q4 25 | — | 1.42× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 1.44× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
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 | $50.8M |
| Free Cash FlowOCF − Capex | $-83.3M | $50.5M |
| FCF MarginFCF / Revenue | -134.6% | 114.9% |
| Capex IntensityCapex / Revenue | 14.2% | 0.7% |
| Cash ConversionOCF / Net Profit | -0.10× | 2.22× |
| TTM Free Cash FlowTrailing 4 quarters | $-307.3M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-74.5M | $50.8M | ||
| Q3 25 | $-123.1M | $18.0M | ||
| Q2 25 | $-52.6M | $13.8M | ||
| Q1 25 | — | $3.1M | ||
| Q4 24 | $-39.4M | $58.2M | ||
| Q3 24 | $-19.2M | $16.4M | ||
| Q2 24 | $-26.6M | $12.3M | ||
| Q1 24 | — | $11.5M |
| Q4 25 | $-83.3M | $50.5M | ||
| Q3 25 | $-127.2M | — | ||
| Q2 25 | $-53.8M | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $-43.0M | $58.0M | ||
| Q3 24 | $-23.0M | — | ||
| Q2 24 | $-34.1M | — | ||
| Q1 24 | — | — |
| Q4 25 | -134.6% | 114.9% | ||
| Q3 25 | -319.1% | — | ||
| Q2 25 | -259.8% | — | ||
| Q1 25 | — | — | ||
| Q4 24 | -367.4% | 142.1% | ||
| Q3 24 | -185.3% | — | ||
| Q2 24 | -299.3% | — | ||
| Q1 24 | — | — |
| Q4 25 | 14.2% | 0.7% | ||
| Q3 25 | 10.4% | — | ||
| Q2 25 | 5.8% | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 30.7% | 0.5% | ||
| Q3 24 | 30.4% | — | ||
| Q2 24 | 65.8% | — | ||
| Q1 24 | — | — |
| Q4 25 | -0.10× | 2.22× | ||
| Q3 25 | — | 0.98× | ||
| Q2 25 | — | 2.74× | ||
| Q1 25 | — | 0.83× | ||
| Q4 24 | — | 3.36× | ||
| Q3 24 | — | 2.15× | ||
| Q2 24 | — | 4.73× | ||
| Q1 24 | — | 1.23× |
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% |
WSR
Segment breakdown not available.
