• EN

    • -+ 0.00%
    -+ 0.00%
    -+ 0.00%

    D Wave Quantum (QBTS) On CGI Partnership And Why Valuation Is Back In Focus

    Simply Wall St·09/25/2026 23:20:41
    Listen to the news

    Attention has swung back to D-Wave Quantum (QBTS) after CGI announced a partnership that puts D-Wave’s Advantage2 system and hybrid solvers inside CGI’s client offerings across logistics, transportation and retail optimization.

    The CGI agreement lands at a time when D-Wave Quantum’s 1-day share price return is slightly negative and the 90-day share price return is down sharply, even though the 3-year total shareholder return is extremely high and short-term sentiment has perked up on partnerships, fresh government funding, and new board expertise.

    Scan how D-Wave Quantum compares with other quantum-focused plays by reviewing a curated set of 25 quantum computing stocks aligned with similar real-world logistics and optimization use cases.

    D-Wave Quantum now sits between a bullish story of real-world quantum contracts and a bearish view built on heavy losses and a sharp 90 day decline. Which side does the current valuation lean toward?

    Most Popular Narrative: 51% Undervalued

    Against a last close of $17.41, the most followed narrative pegs D-Wave Quantum’s fair value at about $35. This sets a wide valuation gap that the story then tries to explain through growth, technology choices, and contract structure.

    Growing global adoption of quantum optimization for high value logistics, manufacturing and defense workflows, evidenced by production grade deployments such as BASF, Davidson and North Wales Police, should expand recurring QCaaS usage and may support sustained double digit revenue growth.

    See why 99 investors see D-Wave Quantum as 51% undervalued.

    Result: Fair Value of $35.24 (UNDERVALUED)

    Still, the D-Wave Quantum story can crack if large one off system deals slow or if heavy R&D and sales spending continues to widen losses.

    Find out about the key risks to this D-Wave Quantum narrative.

    Another View: What Multiples Say About D-Wave Quantum

    There is a big story built around D-Wave Quantum trading below a fair value near $35. Yet on a simpler yardstick, the stock looks expensive. Its P/B of 6x sits almost double the US Software sector at 3.1x, even though the business is still loss making.

    Against peers on this same P/B yardstick, D-Wave Quantum screens cheaper at 6x versus a group average of 9.4x, which points to a smaller premium inside its closer comparison set and hints at a mixed picture. Is that a reasonable middle ground or a sign the market is still struggling to price the risk?

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

    NasdaqGS:QBTS P/B Ratio as at Sep 2026
    NasdaqGS:QBTS P/B Ratio as at Sep 2026

    Next Steps

    Uncertain whether current sentiment around D-Wave Quantum is too optimistic or too harsh? Act quickly, review the full picture, then weigh the 1 key reward and 2 important warning signs.

    Looking for more investment ideas beyond D-Wave Quantum?

    If you only focus on D-Wave Quantum, you might miss other compelling setups that fit your risk profile and income goals across the wider 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.