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    Is IQM Quantum Computers Oyj (HLSE:IQMX) A Bargain Following Its Share Buyback Plan?

    Simply Wall St·08/05/2026 14:26:12
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    Share buyback plan puts IQM Quantum Computers Oyj’s capital decisions in focus

    IQM Quantum Computers Oyj (HLSE:IQMX) has announced a share repurchase program of up to 25,000,000 common shares, running until August 27, 2027, putting fresh attention on the stock’s valuation and capital allocation choices.

    See our latest analysis for IQM Quantum Computers Oyj.

    The share price of IQM Quantum Computers Oyj has come under pressure recently, with a 7 day share price return down 9.25% and a 30 day share price return down 49.70%, which tempers the positive sentiment from its expanding order backlog and recent system deliveries.

    If this buyback has you looking more broadly at quantum computing, it could be a useful time to scan the market using our screener of 26 quantum computing stocks

    IQM Quantum Computers Oyj is building out its systems and order book, yet the share price has dropped sharply just as management commits fresh capital to buybacks. Is this a strong business simply mispriced, or a risk that is now fairly valued?

    Preferred Price-to-Book multiple of 10.9x for IQM Quantum Computers Oyj: Is it justified?

    IQM Quantum Computers Oyj trades on a P/B of 10.9x, which is high compared to both the European tech sector and its more immediate peer group.

    The price to book ratio compares a company’s market value to its book value on the balance sheet. For a hardware focused quantum computing business like IQM Quantum Computers Oyj, this multiple can hint at how much investors are willing to pay for current assets and accumulated investment in the platform, even while the company reports a loss.

    Here, the gap is wide. IQM Quantum Computers Oyj’s 10.9x P/B stands against an average of 1.2x for the broader European tech industry and 3.1x for peers. That is a hefty premium, which suggests the market is pricing in strong expectations around its systems, cloud platform and projected revenue growth rather than current profitability.

    See what the numbers say about this price — find out in our valuation breakdown.

    Result: Price-to-book of 10.9x (OVERVALUED)

    However, IQM Quantum Computers Oyj still carries execution risk around scaling quantum hardware and cloud services, and any slowdown in order intake could quickly pressure sentiment.

    Find out about the key risks to this IQM Quantum Computers Oyj narrative.

    Next Steps

    With mixed signals around IQM Quantum Computers Oyj’s valuation and capital decisions, sentiment is clearly split. It can therefore help to move quickly, review the details directly, and then weigh both the upside and the caution flags in the 2 key rewards and 3 important warning signs

    Looking for more investment ideas beyond IQM Quantum Computers Oyj?

    If you want a broader view than IQM Quantum Computers Oyj alone, use the Simply Wall St Screener today so you do not miss potential opportunities across the market.

    This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.