Who are Pasqal's main competitors?

Named competitors: IonQ (IONQ), IQM Quantum Computers (IQMX), Xanadu Quantum Technologies (XNDU.TO), Rigetti Computing (RGTI), D-Wave Quantum (QBTS). The cockpit's measured peer set (industry) also includes Zkteco (301330.SZ), JBCC (9889.T), Jess-Link Products (6197.TW), Emdoor Information (001314.SZ), Toukei Computer (4746.T), MilDef (MILDEF.ST).

← CockpitCompetitor Analysis › PSQL Pasqal Holding SAOpen in the cockpit ↗

Pasqal Holding SAPSQLCompetitor analysis, valuation and peers

United States · USD·Information Technology›Computer Processing Hardware

French quantum-computing company using neutral-atom qubits, selling systems and cloud access to labs and governments.

≈ A neutral-atom IonQ

Competitor Analysis ▸ Charts Open in the cockpit

Mkt cap

$923M

US dollars, full cap

Free float

72%

of shares outstanding

$/day

$2.60M

20-day average traded

Fwd P/E

n/m

no positive forecast

ROIC−WACC

-15.5 pp

WACC 13.4%

Hurdle

n/a

no reverse DCF

Close · USD$4.35

1D+5.8%

1W-16.8%

1M-39.4%

3Mn/a

6Mn/a

YTDn/a

1Yn/a

ATR %12.0%

52w lowhigh82.4% off high

What Pasqal does

French quantum-computing company using neutral-atom qubits, selling systems and cloud access to labs and governments.

Earns from a small number of large contracts, selling machines to national computing centres and research programmes and renting access to them over the cloud, so revenue depends on public research funding more than on commercial volume. It spun out of French research laboratories in 2019.

In one line: A neutral-atom IonQ.

Products and services

Neutral-atom quantum computers
Quantum cloud access
Quantum simulation software

Customers

European governments/defense
Research institutes
Pharma and materials researchers

Where it sits in the supply chain

Quantum computing
Neutral-atom quantum hardware
Quantum cloud services

What could go right

European quantum sovereignty funding
Defense and national-lab contracts

What could go wrong

Pre-commercial revenue
Competing qubit modalities may scale faster

Moat: narrow (IP / patents, process know-how). Founding-team IP in neutral-atom arrays and early national-lab deployments across Europe.

Headquarters: Massy, France · Founded: 2019 · Employees: 3

Named competitors

Pasqal at a glance

Size Pasqal (PSQL) is a United States Information Technology company (Computer Processing Hardware) with a market value of $923M, the 2301st largest of 3,117 United States companies the cockpit tracks. Shares closed at $4.35 on 6 Nov 2026.

Capital Return on invested capital runs 15.5 points below its cost of capital (13.4% WACC).

Short interest Short interest is 0.4% of the free float (15 Oct 2026).

Pasqal financials

Reported figures in USD; fiscal year ends 2025-12-31. TTM = trailing twelve months.
	TTM	FY2025
Revenue	$0	$0
Revenue growth	—	—
Gross profit	$0	$0
EBITDA	-$7.24M	-$62,580
Net income	-$2.46M	-$62,576
Free cash flow	n/a	$0
Capital expenditure	n/a	$0
Total debt	$0	$248,013

Quarterly statements and history in the cockpit →

Pasqal competitors and peer comparison

Head to head with its named competitors (PSQL vs IONQ vs IQMX vs XNDU.TO)
Company	Market cap	6M return	Revenue growth	Op. margin	EV / Sales	Req g
Pasqal PSQL	$923M	n/a	n/a	n/a	n/a	n/a
IonQ IONQ	$14.0B	-34%	+371%	-392%	48.5×	n/a
IQM Quantum Computers Oyj Sponsored ADR IQMX	$1.49B	n/a	n/a	-492%	178.8×	n/a
Xanadu Quantum Technologies XNDU.TO	$815M	-84%	n/a	-1,410%	126.8×	n/a
RGTI RGTI	$3.92B	-38%	+68%	-728%	264.8×	n/a
QBTS QBTS	$4.05B	-25%	-44%	-1,373%	286.2×	n/a

How Pasqal compares with its peers

Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.

Pasqal against its 20 peers (data as of 6 Nov 2026)
Measure	PSQL	Peer median	Rank in peer set
1-month return	-39.4%	-1.7%	lowest of 21
Distance from 52-week high	-82.4%	-41.8%	lowest of 21
ROIC minus cost of capital	-15.5 pp	-1.8 pp	5th lowest of 21

Peer table

Peer set: Industry: the same industry and sector in any market, nearest in size
Company	Market	Market cap	6M return	Revenue growth	Op. margin	EV / Sales	Req g	Delivered g
Pasqal PSQL	United States	$923M	n/a	n/a	n/a	n/a	n/a	n/a
Zkteco 301330.SZ	China	$876M	-19%	+24%	11%	1.9×	7.2%	+3.4%
JBCC 9889.T	Japan	$852M	+61%	+9%	10%	1.5×	-4.7%	+4.8%
Jess-Link Products 6197.TW	Taiwan	$814M	-10%	+21%	22%	3.0×	6.1%	+16.2%
Emdoor Information 001314.SZ	China	$791M	-26%	+74%	3%	1.0×	n/a	n/a
Toukei Computer 4746.T	Japan	$790M	+74%	+5%	29%	5.6×	2.6%	+5.6%
MilDef MILDEF.ST	Sweden	$1.17B	+54%	+76%	17%	4.1×	5.1%	+38.7%
Clevo 2362.TW	Taiwan	$705M	+5%	-9%	6%	2.4×	n/a	n/a
Qisda 2352.TW	Taiwan	$1.28B	+7%	0%	1%	0.6×	n/a	n/a
Raspberry PI RPI.L	United Kingdom	$1.29B	-27%	+71%	9%	2.9×	14.4%	+17.2%
Sichuan Furong Technology 603327.SS	China	$1.30B	-26%	+22%	6%	3.0×	n/a	n/a
Kontron KTN.DE	Germany	$1.31B	-19%	-7%	7%	0.9×	4.2%	+5.1%
SECO IOT.MI	Italy	$634M	+65%	+6%	3%	3.3×	43.7%	+21.0%
Jiangxi Firstar Panel Technology 300256.SZ	China	$631M	-25%	-13%	-12%	2.9×	n/a	n/a
SDIC Intelligence Information Technology 300188.SZ	China	$1.35B	-15%	-15%	-53%	6.2×	n/a	n/a
IQM Quantum Computers IQMX.HE	Finland	$1.41B	n/a	n/a	-492%	174.7×	n/a	n/a
Fujian Start 600734.SS	China	$591M	-19%	-71%	-90%	52.4×	n/a	n/a
IQM Quantum Computers Oyj Sponsored ADR IQMX	United States	$1.49B	n/a	n/a	-492%	178.8×	n/a	n/a
XGD 300130.SZ	China	$1.49B	-20%	+21%	12%	1.7×	3.8%	+3.8%
PCI Technology 600728.SS	China	$1.58B	-7%	+11%	0%	1.1×	23.0%	+18.8%
Flytech Technology 6206.TW	Taiwan	$493M	+3%	+12%	27%	2.4×	-10.1%	+2.6%

Questions

Who are Pasqal's main competitors?: Named competitors: IonQ (IONQ), IQM Quantum Computers (IQMX), Xanadu Quantum Technologies (XNDU.TO), Rigetti Computing (RGTI), D-Wave Quantum (QBTS). The cockpit's measured peer set (industry) also includes Zkteco (301330.SZ), JBCC (9889.T), Jess-Link Products (6197.TW), Emdoor Information (001314.SZ), Toukei Computer (4746.T), MilDef (MILDEF.ST).