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D-Wave Quantum Inc.（QBTS）与Toast, Inc.（TOST）财务数据对比。点击上方公司名可切换其他公司
Toast, Inc.的季度营收约是D-Wave Quantum Inc.的593.4倍（$1.6B vs $2.8M）。Toast, Inc.净利率更高（6.2% vs -1538.0%，领先1544.2%）。Toast, Inc.同比增速更快（22.0% vs 19.2%）。Toast, Inc.自由现金流更多（$178.0M vs $-20.0M）。过去两年Toast, Inc.的营收复合增速更高（23.3% vs 5.7%）
D-Wave量子公司是专注量子计算领域的科技企业，在美国加利福尼亚州帕洛阿尔托、加拿大不列颠哥伦比亚省本拿比均设有办公点。该公司自称是全球首家销售基于量子效应运行的计算机的企业，客户包括洛克希德·马丁、南加州大学、谷歌与NASA联合项目、洛斯阿拉莫斯国家实验室等。
Toast, Inc.是总部位于美国马萨诸塞州波士顿的云餐饮管理软件企业，主打基于安卓操作系统研发的一体化销售点（POS）系统，可为餐饮商家提供涵盖收银、订单管理等在内的全场景门店经营解决方案。
QBTS vs TOST — 直观对比
营收规模更大
TOST
是对方的593.4倍
$2.8M
营收增速更快
TOST
高出2.9%
19.2%
净利率更高
TOST
高出1544.2%
-1538.0%
自由现金流更多
TOST
多$198.0M
$-20.0M
两年增速更快
TOST
近两年复合增速
5.7%
损益表 — Q4 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $2.8M | $1.6B |
| 净利润 | $-42.3M | $101.0M |
| 毛利率 | 64.8% | 25.9% |
| 营业利润率 | -1266.0% | 5.2% |
| 净利率 | -1538.0% | 6.2% |
| 营收同比 | 19.2% | 22.0% |
| 净利润同比 | 50.8% | 215.6% |
| 每股收益（稀释后） | $-0.13 | $0.18 |
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QBTSTOST
| Q4 25 | $2.8M | $1.6B | ||
| Q3 25 | $3.7M | $1.6B | ||
| Q2 25 | $3.1M | $1.6B | ||
| Q1 25 | $15.0M | $1.3B | ||
| Q4 24 | $2.3M | $1.3B | ||
| Q3 24 | $1.9M | $1.3B | ||
| Q2 24 | $2.2M | $1.2B | ||
| Q1 24 | $2.5M | $1.1B |
净利润QBTSTOST
| Q4 25 | $-42.3M | $101.0M | ||
| Q3 25 | $-140.0M | $105.0M | ||
| Q2 25 | $-167.3M | $80.0M | ||
| Q1 25 | $-5.4M | $56.0M | ||
| Q4 24 | $-86.1M | $32.0M | ||
| Q3 24 | $-22.7M | $56.0M | ||
| Q2 24 | $-17.8M | $14.0M | ||
| Q1 24 | $-17.3M | $-83.0M |
毛利率QBTSTOST
| Q4 25 | 64.8% | 25.9% | ||
| Q3 25 | 71.4% | 26.5% | ||
| Q2 25 | 63.8% | 25.3% | ||
| Q1 25 | 92.5% | 25.9% | ||
| Q4 24 | 63.8% | 24.9% | ||
| Q3 24 | 55.8% | 24.7% | ||
| Q2 24 | 63.6% | 23.0% | ||
| Q1 24 | 67.3% | 23.2% |
营业利润率QBTSTOST
| Q4 25 | -1266.0% | 5.2% | ||
| Q3 25 | -741.8% | 5.1% | ||
| Q2 25 | -856.3% | 5.2% | ||
| Q1 25 | -75.3% | 3.2% | ||
| Q4 24 | -876.2% | 2.5% | ||
| Q3 24 | -1103.5% | 2.6% | ||
| Q2 24 | -863.0% | 0.4% | ||
| Q1 24 | -710.6% | -5.2% |
净利率QBTSTOST
| Q4 25 | -1538.0% | 6.2% | ||
| Q3 25 | -3743.9% | 6.4% | ||
| Q2 25 | -5406.4% | 5.2% | ||
| Q1 25 | -36.1% | 4.2% | ||
| Q4 24 | -3727.9% | 2.4% | ||
| Q3 24 | -1214.5% | 4.3% | ||
| Q2 24 | -814.4% | 1.1% | ||
| Q1 24 | -702.3% | -7.7% |
每股收益（稀释后）QBTSTOST
| Q4 25 | $-0.13 | $0.18 | ||
| Q3 25 | $-0.41 | $0.16 | ||
| Q2 25 | $-0.55 | $0.13 | ||
| Q1 25 | $-0.02 | $0.09 | ||
| Q4 24 | $-0.43 | $0.09 | ||
| Q3 24 | $-0.11 | $0.07 | ||
| Q2 24 | $-0.10 | $0.02 | ||
| Q1 24 | $-0.11 | $-0.15 |
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 | $884.5M | $1.4B |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $852.2M | $2.1B |
| 总资产 | $915.8M | $3.1B |
| 负债/权益比越低杠杆越低 | — | — |
8季度趋势，按日历期对齐
现金及短期投资QBTSTOST
| Q4 25 | $884.5M | $1.4B | ||
| Q3 25 | $836.2M | $1.4B | ||
| Q2 25 | $819.3M | $1.2B | ||
| Q1 25 | $304.3M | $1.0B | ||
| Q4 24 | $178.0M | $903.0M | ||
| Q3 24 | — | $761.0M | ||
| Q2 24 | — | $691.0M | ||
| Q1 24 | — | $578.0M |
股东权益QBTSTOST
| Q4 25 | $852.2M | $2.1B | ||
| Q3 25 | $670.6M | $2.0B | ||
| Q2 25 | $694.3M | $1.8B | ||
| Q1 25 | $207.4M | $1.7B | ||
| Q4 24 | $62.6M | $1.5B | ||
| Q3 24 | $-16.9M | $1.4B | ||
| Q2 24 | $-21.5M | $1.3B | ||
| Q1 24 | $-37.0M | $1.2B |
总资产QBTSTOST
| Q4 25 | $915.8M | $3.1B | ||
| Q3 25 | $865.8M | $3.0B | ||
| Q2 25 | $843.6M | $2.8B | ||
| Q1 25 | $325.6M | $2.6B | ||
| Q4 24 | $199.9M | $2.4B | ||
| Q3 24 | $49.6M | $2.2B | ||
| Q2 24 | $61.8M | $2.2B | ||
| Q1 24 | $48.6M | $2.1B |
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 | $-18.4M | $194.0M |
| 自由现金流经营现金流 - 资本支出 | $-20.0M | $178.0M |
| 自由现金流率自由现金流/营收 | -727.9% | 10.9% |
| 资本支出强度资本支出/营收 | 60.3% | 1.0% |
| 现金转化率经营现金流/净利润 | — | 1.92× |
| 过去12个月自由现金流最近4个季度 | $-75.8M | $608.0M |
8季度趋势，按日历期对齐
经营现金流QBTSTOST
| Q4 25 | $-18.4M | $194.0M | ||
| Q3 25 | $-19.0M | $165.0M | ||
| Q2 25 | $-15.3M | $223.0M | ||
| Q1 25 | $-19.3M | $79.0M | ||
| Q4 24 | $2.0M | $147.0M | ||
| Q3 24 | $-18.1M | $109.0M | ||
| Q2 24 | $-14.5M | $124.0M | ||
| Q1 24 | $-12.1M | $-20.0M |
自由现金流QBTSTOST
| Q4 25 | $-20.0M | $178.0M | ||
| Q3 25 | $-20.1M | $153.0M | ||
| Q2 25 | $-16.0M | $208.0M | ||
| Q1 25 | $-19.7M | $69.0M | ||
| Q4 24 | $1.1M | $134.0M | ||
| Q3 24 | $-18.4M | $97.0M | ||
| Q2 24 | $-15.0M | $108.0M | ||
| Q1 24 | $-12.4M | $-33.0M |
自由现金流率QBTSTOST
| Q4 25 | -727.9% | 10.9% | ||
| Q3 25 | -536.5% | 9.4% | ||
| Q2 25 | -518.1% | 13.4% | ||
| Q1 25 | -131.4% | 5.2% | ||
| Q4 24 | 46.2% | 10.0% | ||
| Q3 24 | -982.8% | 7.4% | ||
| Q2 24 | -687.7% | 8.7% | ||
| Q1 24 | -504.0% | -3.1% |
资本支出强度QBTSTOST
| Q4 25 | 60.3% | 1.0% | ||
| Q3 25 | 27.2% | 0.7% | ||
| Q2 25 | 24.2% | 1.0% | ||
| Q1 25 | 2.9% | 0.7% | ||
| Q4 24 | 41.1% | 1.0% | ||
| Q3 24 | 16.4% | 0.9% | ||
| Q2 24 | 25.0% | 1.3% | ||
| Q1 24 | 12.4% | 1.2% |
现金转化率QBTSTOST
| Q4 25 | — | 1.92× | ||
| Q3 25 | — | 1.57× | ||
| Q2 25 | — | 2.79× | ||
| Q1 25 | — | 1.41× | ||
| Q4 24 | — | 4.59× | ||
| Q3 24 | — | 1.95× | ||
| Q2 24 | — | 8.86× | ||
| 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
QBTS
暂无分部数据
TOST
| Technology Service | $1.3B | 82% |
| License | $256.0M | 16% |
| Product And Professional Services | $43.0M | 3% |
