IonQ vs Everpure

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KIRA’s take AI analyst

I put IonQ and Everpure side by side, using each one’s latest annual report. Here is what stands out:

Everpure is the larger business, with $3.7B of revenue in fiscal 2026 against $130M for IonQ, about 28 times as much.
IonQ grew revenue faster (201.9%, against 15.6%).
Everpure kept more of each dollar of sales as operating profit (3.1% operating margin, against −487.4%).
Everpure turned more of its sales into free cash flow (16.8% FCF margin, against −230.4%).

Who comes out ahead

Of the 7 measures where higher (or lower) is clearly better, how many each company leads.

IonQ

IONQ

1/7

Revenue growth

Everpure

6/7

Operating marginNet marginFCF marginReturn on equityPiotroski F-scoreShare count change

Side by side

Best in the row

Latest fiscal year	IONQ FY25	P FY26
Size
Market cap	$11.5B	$42.6B
Revenue	$130M	$3.7B
Free cash flow	−$300M	$616M
Net income	−$510M	$188M
Growth
Revenue growth	201.9%	15.6%
5-year growth	—	16.8%
Share count change	31.6%	0.1%
Profitability
Gross margin	—	70.4%
Operating margin	−487.4%	3.1%
Net margin	−392.6%	5.1%
FCF margin	−230.4%	16.8%
Return on capital	−68.3%	—
Return on equity	−24.4%	13.7%
Balance sheet
Net debt	−$2.4B	−$1.5B
Net debt / EBITDA	—	−6.1x
Dividends and buybacks	$0.0M	$343M
Valuation & quality
P/E	—	168.9x
Piotroski F-score	3	7

Ten years

Revenue

FY17

IONQ —

P $739M

FY18

IONQ —

P $1.0B

FY19

IONQ —

P $1.4B

FY20

IONQ $0.0M

P $1.6B

FY21

IONQ $2.1M

P $1.7B

FY22

IONQ $1.2B

P $2.2B

FY23

IONQ $22.0M

P $2.8B

FY24

IONQ $43.1M

P $2.8B

FY25

IONQ $130M

P $3.2B

FY26

IONQ —

P $3.7B

FY17 FY18 FY19 FY20 FY21 FY22 FY23 FY24 FY25 FY26

IONQ P

Operating margin

FY17

IONQ —

P −29.9%

FY18

IONQ —

P −16.3%

FY19

IONQ —

P −12.5%

FY20

IONQ —

P −11.6%

FY21

IONQ −1,843.1%

P −15.5%

FY22

IONQ −6.9%

P −4.5%

FY23

IONQ −715.7%

P 3.0%

FY24

IONQ −539.7%

P 1.9%

FY25

IONQ −487.4%

P 2.7%

FY26

IONQ —

P 3.1%

FY17 FY18 FY19 FY20 FY21 FY22 FY23 FY24 FY25 FY26

IONQ P

Free cash flow

FY17

IONQ —

P −$91.1M

FY18

IONQ —

P $7.7M

FY19

IONQ —

P $64.2M

FY20

IONQ −$22.0M

P $102M

FY21

IONQ −$34.3M

P $92.7M

FY22

IONQ −$54.0M

P $308M

FY23

IONQ −$92.5M

P $609M

FY24

IONQ −$124M

P $483M

FY25

IONQ −$300M

P $527M

FY26

IONQ —

P $616M

FY17 FY18 FY19 FY20 FY21 FY22 FY23 FY24 FY25 FY26

IONQ P

Return on capital

FY17

IONQ —

P —

FY18

IONQ —

P —

FY19

IONQ —

P —

FY20

IONQ —

P —

FY21

IONQ −70.8%

P —

FY22

IONQ −48.2%

P —

FY23

IONQ −72.9%

P —

FY24

IONQ −212.2%

P —

FY25

IONQ −68.3%

P —

FY26

IONQ —

P —

FY17 FY18 FY19 FY20 FY21 FY22 FY23 FY24 FY25 FY26

IONQ P

Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.