IonQ vs Seagate Technology
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KIRAβs take AI analyst
I put IonQ and Seagate Technology side by side, using each oneβs latest annual report. Here is what stands out:
- Seagate Technology is the larger business, with $12.2B of revenue in fiscal 2026 against $130M for IonQ, about 94 times as much.
- IonQ grew revenue faster (201.9%, against 34.1%).
- Seagate Technology kept more of each dollar of sales as operating profit (33.6% operating margin, against β487.4%).
- Seagate Technology turned more of its sales into free cash flow (25.5% FCF margin, against β230.4%).
- Seagate Technology earned a higher return on the capital invested in it (92.0%, against β68.3%).
Who comes out ahead
Of the 8 measures where higher (or lower) is clearly better, how many each company leads.
IonQ
IONQ
1/8
Revenue growth
Seagate Technology
STX
7/8
Operating marginNet marginFCF marginReturn on capitalReturn on equityPiotroski F-scoreShare count change
Side by side
Best in the row
| Latest fiscal year | IONQ FY25 | STX FY26 |
|---|---|---|
| Size | ||
| Market cap | $11.3B | $147.5B |
| Revenue | $130M | $12.2B |
| Free cash flow | β$300M | $3.1B |
| Net income | β$510M | $3.2B |
| Growth | ||
| Revenue growth | 201.9% | 34.1% |
| 5-year growth | β | 2.7% |
| Share count change | 31.6% | 5.5% |
| Profitability | ||
| Gross margin | β | 45.6% |
| Operating margin | β487.4% | 33.6% |
| Net margin | β392.6% | 26.1% |
| FCF margin | β230.4% | 25.5% |
| Return on capital | β68.3% | 92.0% |
| Return on equity | β24.4% | 371.5% |
| Balance sheet | ||
| Net debt | β$2.4B | $1.9B |
| Net debt / EBITDA | β | 0.4x |
| Dividends and buybacks | $0.0M | $810M |
| Valuation & quality | ||
| P/E | β | β |
| Piotroski F-score | 3 | 8 |
Ten years
Revenue
Operating margin
Free cash flow
Return on capital
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.