IonQ, Inc.

IONQNYSETechnology● Active

$63.28

+$6.50(+11.45%)

Market Cap$23.6B

P/E Ratio—

52W High$84.64

52W Low$25.89

Avg Volume29.4M

Open$59.54

Beta3.18

Free Cash Flow Financials Revenue

IonQ, Inc. (IONQ) Free Cash Flow & Analysis

Annual & trailing free cash flow, FCF margin, YoY change, valuation ratios, and peer context.

IONQ · free cash flow · updated Jun 8, 2026

Core FCF metrics

IONQ · FCF · TTM · margin & CAGR

Free cash flow was −$299.6M for FY2025 (fiscal year ending 2025-12-31), down 131.8% year-over-year The FCF margin was -230.4%.

FY2025 Free Cash Flow−$299.6M▼ -131.8% YoY

Trailing 12M (TTM)−$424.8Mtrailing 4 quarters sum

FCF Margin-230.4%−$299.6M ÷ revenue

3-Year CAGRN/AN/A — contains negative FCF

5-Year CAGRN/AN/A — contains negative FCF

FormulaFCF = Operating Cash Flow − Capital ExpendituresTTM = trailing 4 quarters sumCAGR → N/A if either endpoint ≤ 0

Source: FMP /cash-flow-statement · SEC 10-K / 10-Q · USDUpdated: Jun 8, 2026

Annual free cash flow history

FCF ($B, upper) · YoY Growth % (lower)

Positive FCFNegative FCF

Free Cash Flow

YoY Growth %

Annual free cash flow data

IONQ · free cash flow history · annual / quarterly

Fiscal YearOperating CFCapExFree Cash FlowYoY ChangeFCF Margin

FY2025Latest−$283.2M(16M)−$299.6M▼ 131.8%-230.4%

FY2024−$105.7M(24M)−$129.3M▼ 31.4%-300.1%

FY2023−$78.8M(20M)−$98.4M▼ 71.8%-446.2%

FY2022−$44.7M(13M)−$57.3M▼ 56.6%-514.4%

FY2021−$26.5M(10M)−$36.6M▼ 54.4%—

FCF = Operating Cash Flow − Capital Expenditures · CapEx shown as (negative) · Source: SEC filings via FMP

FCF valuation metrics

IONQ · P/FCF · FCF yield · FCF per share

IonQ, Inc. (IONQ) reported negative free cash flow of −$0.30B. FCF-based valuation ratios are not meaningful when FCF is negative.

FCF Yield (TTM)

N/A

Free Cash Flow ÷ Market Cap

per FMP freeCashFlowYieldTTM definition

FCF per Share (TTM)

N/A

TTM FCF ÷ Shares Outstanding

Price / FCF

N/A

Share Price ÷ FCF per Share

EV / FCF (TTM)

N/A

Enterprise Value basis

FCF-based valuation ratios are only meaningful when free cash flow is positive. Negative FCF indicates capital expenditures exceeded operating cash flow.

Source: FMP /key-metrics-ttm · /cash-flow-statement Q · /income-statementFY2025 · 2025-12-31

Cash flow statement summary

IONQ · cash flow statement · operating / investing / financing

For FY2025, IonQ, Inc. generated −$283.2M in operating cash flow and spent 16M in capital expenditures, yielding −$299.6M in free cash flow.

Operating Activities

−$283.2M

Cash from core business operations

2025-12-31

Investing Activities

−$2.10B

CapEx, acquisitions & investments

2025-12-31

Financing Activities

+$3.36B

Buybacks, dividends & debt

2025-12-31

FCF FormulaOperating CF (−$283.2M) − |CapEx| (16M) = FCF (−$299.6M)

For the complete Operating / Investing / Financing line-item breakdown:

View Full Cash Flow Statement →

Free cash flow vs peers (Technology)

IONQ vs peers · FCF

#CompanyFree Cash FlowYoYFCF MarginRelative

IonQ, Inc.YOU

IONQ

−$299.6M-131.8%-230.4%

Loss

Taiwan Semiconductor Manufacturing Company Limited

Microsoft Corporation

Technology · Sorted by FCF · FMP /cash-flow-statementFull FCF Rankings →

About Free Cash Flow & Methodology

IonQ, Inc. (IONQ) reported free cash flow of −$299.6M for FY2025 (fiscal year ending 2025-12-31), down 131.8% year-over-year. The FCF margin was -230.4%.

IonQ, Inc. has reported negative free cash flow in recent periods, indicating capital expenditures have exceeded operating cash flow. Data available for 7 fiscal years.

Data sourced from FMP /cash-flow-statement · SEC 10-K / 10-Q · USD.

Q&A and summaries align with SEC 10-K/10-Q cash flow disclosures and FMP /cash-flow-statement where noted.

Revenue Financial statements Net income Earnings Forecast Price history Market cap Cash on hand P/E ratio

Frequently asked questions

IONQ free cash flow · 8 questions

IonQ, Inc. free cash flow was −$299.6M for FY2025, down 131.8% year-over-year. On a trailing twelve-month (TTM) basis, free cash flow stands at −$424.8M.

IONQ free cash flowIONQ FCFIONQ FCF 2025IONQ free cash flow TTM

▸ Source: FMP /cash-flow-statement · US GAAP · IonQ, Inc. · IonQ, Inc. SEC 10-K & 10-Q filings · US GAAP · Last updated: Jun 8, 2026