Key Takeaways
- Quality score climbed to 57/100 on a strong balance sheet (current ratio 3.94, debt-to-equity 0.01), offsetting still-deeply negative operating margin (-546.2%) and return on equity (-43.8%).
- Growth held at 57/100: trailing revenue growth of 185.3% comes off a small $13M revenue base, while the five-year revenue CAGR remains negative at -18.5%.
- Opportunity scores just 13/100 as an EV/Revenue of 418.77x and Price/Book of 11.12 leave little margin of safety even with the stock in the middle of its two-year range.
Signal Change: Sell → Hold
Rigetti’s signal moved from Sell to Hold as the Quality score jumped from 31 to 57 out of 100, driven by a narrower operating margin (-589.8% to -546.2%), improved return on equity (-57.1% to -43.8%), and a rise in gross margin from 29.9% to 34.6%. Free cash flow yield also turned modestly positive, from -0.1% to 0.4%, even as trailing revenue growth moderated slightly from 198.9% to 185.3%. The Opportunity score improved too, from 7 to 13 out of 100, though EV/EBITDA actually worsened, from -59.82 to -64.11, and debt-to-equity held flat at 0.01 – together pointing to a business getting incrementally healthier operationally, even as the valuation backdrop stays challenging.
Our last published analysis on July 29, 2026 rated Rigetti Computing, Inc. Sell. That model signal has since changed.
This Rigetti Computing stock analysis arrives at an inflection point for the quantum-computing name: StreetBriefs’ scoring model has moved Rigetti from a Sell to a Hold signal, driven by narrowing losses and an improving balance sheet rather than any change in the underlying growth story. Shares trade at $17.91, down sharply from a two-year high of $46.38 but well above the $0.75 low set earlier in that window, leaving the stock in the middle of its two-year range.
What Is Happening With the Stock Price
At $17.91, Rigetti sits roughly in the middle of its two-year trading band between $0.75 and $46.38 – a reminder of just how volatile early-stage quantum-computing names can be. The wide gap between those extremes reflects a stock that has swung from speculative enthusiasm to steep drawdowns and partial recoveries as sentiment around the quantum-computing sector has shifted, rather than a steady grind in either direction.
Quality: Is This a Financially Sound Business?
Rigetti’s Quality score climbed to 57 out of 100, and the balance sheet is the main reason why: a current ratio of 3.94 and quick ratio of 3.78 point to ample short-term liquidity, while debt-to-equity of just 0.01 means the company carries essentially no leverage. Profitability is a different story. Operating margin remains deeply negative at -546.2%, and return on equity is -43.8%, both signs that Rigetti is still burning significant cash relative to its revenue base to fund quantum-computing R&D. Notably, net profit margin registers near breakeven at 0.0% despite that steeply negative operating margin – a gap that typically points to non-operating items (such as gains tied to warrant or investment revaluations) rather than an actual swing to core profitability, and is worth treating with some skepticism. Free cash flow of $26M also technically exceeds trailing twelve-month revenue of $13M, an unusual pairing for a company still posting large operating losses that likely reflects lumpy working-capital timing rather than a repeatable cash-generation pattern.
Growth: Does This Company Have Real Upside?
Growth held steady at 57 out of 100 in this Rigetti Computing stock analysis. Trailing-twelve-month revenue grew 185.3%, but that figure comes off a tiny $13M revenue base, so large percentage swings should be read in that context rather than as evidence of at-scale commercial traction. The five-year revenue CAGR is actually negative, at -18.5%, underscoring how uneven and contract-driven Rigetti’s top line has been over a longer window even as the most recent year accelerated. Gross margin of 34.6% shows the underlying business does capture some margin on the revenue it generates, but earnings growth is not measurable (N/A) since the company remains unprofitable.
Opportunity: Is Now a Good Time to Enter?
Opportunity scores just 13 out of 100, the lowest of the three pillars by a wide margin. EV/Revenue of 418.77x and Price/Book of 11.12 both signal a valuation that prices in years of hoped-for growth rather than current fundamentals, and with no meaningful P/E or earnings growth figure to lean on (both N/A), traditional valuation anchors simply aren’t available. EV/EBITDA of -64.11 reflects negative EBITDA rather than a usable multiple. With the stock sitting in the middle of its two-year range rather than near its lows, there’s little valuation cushion if sentiment toward quantum-computing names cools again.
Rigetti Computing Stock Analysis: The Bottom Line
StreetBriefs’ quantitative model now rates Rigetti a Hold, up from Sell, reflecting real improvement in balance-sheet quality and narrowing margin pressure rather than a verdict that the stock is attractively priced. The bull case rests on continued margin improvement and the long-run potential of quantum computing as a category; the bear case is that Rigetti remains unprofitable, trades at extreme revenue and book-value multiples, and has a five-year revenue trend that is still negative overall. As with any pre-profit, high-multiple name, investors should weigh the risk of further dilution or cash burn against the speculative upside, and treat this rating as a data-driven signal for further research – not a personalized recommendation to transact. Figures are based on Yahoo Finance data as of August 24, 2026, and may be delayed or contain errors.
Financial Metrics Summary
| Metric | Value |
|---|---|
| Price & Valuation | |
| Current Price | $17.91 |
| 2-Year Low | $0.75 |
| 2-Year High | $46.38 |
| Market Cap | $5.98B |
| EV / Revenue | 418.77 |
| Our Scores | |
| Quality Score | 57 / 100 |
| Growth Score | 57 / 100 |
| Opportunity Score | 13 / 100 |
| Profitability | |
| Earnings Per Share | -$0.83 |
| Return on Assets | -9.4% |
| Return on Equity | -43.8% |
| Net Profit Margin | 0.0% |
| Gross Margin | 34.6% |
| Operating Margin | -546.2% |
| Growth | |
| Revenue Growth (5Y CAGR) | -18.5% |
| Revenue Growth (TTM) | 185.3% |
| Balance Sheet | |
| Debt-to-Equity | 0.01 |
| Current Ratio | 3.94 |
| Quick Ratio | 3.78 |
| Income & Dividends | |
| Payout Ratio | 0.0% |
Data as of August 24, 2026
Our Three-Pillar Assessment
| Quality |
57/100 |
| Growth |
57/100 |
| Opportunity |
13/100 |
Quality measures business fundamentals: profitability, cash flow discipline, and balance sheet strength.
Growth captures revenue momentum, gross margin scalability, and the Rule of 40 efficiency test.
Opportunity signals entry timing: current valuation versus history and price position in the 2-year range.
Current price: $17.91 trading 61% below its 2-year high of $46.38.
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This analysis is done using financial data from Yahoo Finance.
Always conduct your own due diligence and consult a qualified financial advisor before making investment decisions.
