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IonQ, Inc.（IONQ）与Waystar Holding Corp.（WAY）财务数据对比。点击上方公司名可切换其他公司
Waystar Holding Corp.的季度营收约是IonQ, Inc.的4.9倍（$303.5M vs $61.9M）。IonQ, Inc.净利率更高（1217.8% vs 6.6%，领先1211.2%）。IonQ, Inc.同比增速更快（428.5% vs 24.3%）。Waystar Holding Corp.自由现金流更多（$57.2M vs $-83.3M）。过去两年IonQ, Inc.的营收复合增速更高（185.7% vs 16.2%）
IonQ是总部位于美国马里兰州科利奇帕克的量子计算软硬件企业，专注研发通用型离子阱量子计算机及配套软件，可实现量子线路的生成、优化与执行，为多领域量子计算落地应用提供核心技术支持。
Waystar Holding Corp是一家领先的医疗健康支付与营收周期管理解决方案提供商，服务覆盖美国各地的医疗机构、医疗系统和支付方，旗下工具可简化账单处理、理赔申请、患者缴费流程，帮助医疗机构降低行政负担、优化营收表现。
IONQ vs WAY — 直观对比
营收规模更大
WAY
是对方的4.9倍
$61.9M
营收增速更快
IONQ
高出404.2%
24.3%
净利率更高
IONQ
高出1211.2%
6.6%
自由现金流更多
WAY
多$140.5M
$-83.3M
两年增速更快
IONQ
近两年复合增速
16.2%
损益表 — Q4 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $61.9M | $303.5M |
| 净利润 | $753.7M | $20.0M |
| 毛利率 | — | — |
| 营业利润率 | -369.4% | 19.4% |
| 净利率 | 1217.8% | 6.6% |
| 营收同比 | 428.5% | 24.3% |
| 净利润同比 | 473.1% | 4.8% |
| 每股收益（稀释后） | $2.60 | $0.10 |
绿色 = 该指标领先。财年不对齐时期间可能不同
8季度营收与利润趋势
并排季度历史对比，按日历期对齐，财年错位的公司也能正确匹配
营收IONQWAY
| Q4 25 | $61.9M | $303.5M | ||
| Q3 25 | $39.9M | $268.7M | ||
| Q2 25 | $20.7M | $270.7M | ||
| Q1 25 | $7.6M | $256.4M | ||
| Q4 24 | $11.7M | $244.1M | ||
| Q3 24 | $12.4M | $240.1M | ||
| Q2 24 | $11.4M | $234.5M | ||
| Q1 24 | $7.6M | $224.8M |
净利润IONQWAY
| Q4 25 | $753.7M | $20.0M | ||
| Q3 25 | $-1.1B | $30.6M | ||
| Q2 25 | $-176.8M | $32.2M | ||
| Q1 25 | $-32.3M | $29.3M | ||
| Q4 24 | $-202.0M | $19.1M | ||
| Q3 24 | $-52.5M | $5.4M | ||
| Q2 24 | $-37.6M | $-27.7M | ||
| Q1 24 | $-39.6M | $-15.9M |
营业利润率IONQWAY
| Q4 25 | -369.4% | 19.4% | ||
| Q3 25 | -423.5% | 22.4% | ||
| Q2 25 | -776.0% | 24.0% | ||
| Q1 25 | -1000.3% | 25.4% | ||
| Q4 24 | -661.9% | 21.8% | ||
| Q3 24 | -428.5% | 11.3% | ||
| Q2 24 | -430.0% | 3.5% | ||
| Q1 24 | -697.4% | 15.7% |
净利率IONQWAY
| Q4 25 | 1217.8% | 6.6% | ||
| Q3 25 | -2646.3% | 11.4% | ||
| Q2 25 | -854.5% | 11.9% | ||
| Q1 25 | -426.3% | 11.4% | ||
| Q4 24 | -1725.0% | 7.8% | ||
| Q3 24 | -423.4% | 2.3% | ||
| Q2 24 | -330.0% | -11.8% | ||
| Q1 24 | -522.2% | -7.1% |
每股收益（稀释后）IONQWAY
| Q4 25 | $2.60 | $0.10 | ||
| Q3 25 | $-3.58 | $0.17 | ||
| Q2 25 | $-0.70 | $0.18 | ||
| Q1 25 | $-0.14 | $0.16 | ||
| Q4 24 | $-0.95 | $0.18 | ||
| Q3 24 | $-0.24 | $0.03 | ||
| Q2 24 | $-0.18 | $-0.21 | ||
| Q1 24 | $-0.19 | $-0.13 |
资产负债表与财务实力
最新季度各公司的流动性、杠杆与账面价值一览
| 指标 | | |
|---|---|---|
| 现金及短期投资手头流动性 | $2.4B | $61.4M |
| 总债务越低越好 | — | $1.5B |
| 股东权益账面价值 | $3.8B | $3.9B |
| 总资产 | $6.6B | $5.8B |
| 负债/权益比越低杠杆越低 | — | 0.38× |
8季度趋势，按日历期对齐
现金及短期投资IONQWAY
| Q4 25 | $2.4B | $61.4M | ||
| Q3 25 | $1.1B | $421.1M | ||
| Q2 25 | $546.9M | $290.3M | ||
| Q1 25 | $588.3M | $224.0M | ||
| Q4 24 | $340.3M | $182.1M | ||
| Q3 24 | $365.7M | $127.1M | ||
| Q2 24 | $369.8M | $68.4M | ||
| Q1 24 | $375.4M | $57.3M |
总债务IONQWAY
| Q4 25 | — | $1.5B | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $1.2B | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益IONQWAY
| Q4 25 | $3.8B | $3.9B | ||
| Q3 25 | $2.3B | $3.2B | ||
| Q2 25 | $1.2B | $3.2B | ||
| Q1 25 | $765.0M | $3.1B | ||
| Q4 24 | $383.9M | $3.1B | ||
| Q3 24 | $435.7M | $3.1B | ||
| Q2 24 | $463.3M | $2.9B | ||
| Q1 24 | $479.8M | $2.0B |
总资产IONQWAY
| Q4 25 | $6.6B | $5.8B | ||
| Q3 25 | $4.3B | $4.7B | ||
| Q2 25 | $1.3B | $4.7B | ||
| Q1 25 | $850.1M | $4.6B | ||
| Q4 24 | $508.4M | $4.6B | ||
| Q3 24 | $497.9M | $4.5B | ||
| Q2 24 | $517.4M | $4.6B | ||
| Q1 24 | $543.9M | — |
负债/权益比IONQWAY
| Q4 25 | — | 0.38× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 0.40× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
现金流与资本效率
扣除再投资后实际产生的现金。现金流比净利润更难造假
| 指标 | | |
|---|---|---|
| 经营现金流最新季度 | $-74.5M | $66.6M |
| 自由现金流经营现金流 - 资本支出 | $-83.3M | $57.2M |
| 自由现金流率自由现金流/营收 | -134.6% | 18.9% |
| 资本支出强度资本支出/营收 | 14.2% | 3.1% |
| 现金转化率经营现金流/净利润 | -0.10× | 3.33× |
| 过去12个月自由现金流最近4个季度 | $-299.6M | $283.2M |
8季度趋势，按日历期对齐
经营现金流IONQWAY
| Q4 25 | $-74.5M | $66.6M | ||
| Q3 25 | $-123.1M | $82.0M | ||
| Q2 25 | $-52.6M | $96.8M | ||
| Q1 25 | $-33.0M | $64.2M | ||
| Q4 24 | $-39.4M | — | ||
| Q3 24 | $-19.2M | $78.8M | ||
| Q2 24 | $-26.6M | $15.4M | ||
| Q1 24 | $-20.5M | $10.7M |
自由现金流IONQWAY
| Q4 25 | $-83.3M | $57.2M | ||
| Q3 25 | $-127.2M | $76.2M | ||
| Q2 25 | $-53.8M | $91.0M | ||
| Q1 25 | $-35.3M | $58.8M | ||
| Q4 24 | $-43.0M | — | ||
| Q3 24 | $-23.0M | $70.2M | ||
| Q2 24 | $-34.1M | $8.6M | ||
| Q1 24 | $-23.6M | $5.2M |
自由现金流率IONQWAY
| Q4 25 | -134.6% | 18.9% | ||
| Q3 25 | -319.1% | 28.3% | ||
| Q2 25 | -259.8% | 33.6% | ||
| Q1 25 | -467.0% | 22.9% | ||
| Q4 24 | -367.4% | — | ||
| Q3 24 | -185.3% | 29.2% | ||
| Q2 24 | -299.3% | 3.7% | ||
| Q1 24 | -311.3% | 2.3% |
资本支出强度IONQWAY
| Q4 25 | 14.2% | 3.1% | ||
| Q3 25 | 10.4% | 2.2% | ||
| Q2 25 | 5.8% | 2.1% | ||
| Q1 25 | 30.5% | 2.1% | ||
| Q4 24 | 30.7% | — | ||
| Q3 24 | 30.4% | 3.6% | ||
| Q2 24 | 65.8% | 2.9% | ||
| Q1 24 | 41.4% | 2.5% |
现金转化率IONQWAY
| Q4 25 | -0.10× | 3.33× | ||
| Q3 25 | — | 2.68× | ||
| Q2 25 | — | 3.01× | ||
| Q1 25 | — | 2.20× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 14.56× | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
业务分部营收拆解
IONQ
暂无分部数据
WAY
| Subscription And Circulation | $167.8M | 55% |
| Volume Based Revenue | $134.2M | 44% |
| Implementation Services And Other Revenue | $1.5M | 1% |
