Horizon Quantum Holdings Ltd. Class A Ordinary Shares (HQ)

FairStock Score: 23/100 — RISKY

Key Financials

AI Analysis

AI-generated, general educational analysis — not personal investment advice.

I look for businesses with durable economics, honest financials, and a price that leaves room for error. Horizon Quantum develops software tools to make quantum computers easier to program, but today the business is mostly a promise. In fiscal Q2 2025, revenue was just $38,462, and net income was -$2.9 million. That is not a business yet; it is an early-stage research-and-development effort with a very high cash burn. Trailing free cash flow is -$18.8 million, so the company consumes cash, and FairStock calculates a -3.2% FCF yield as of the 2026-10-13 close. The balance sheet shows low debt with a D/E of 0.01, which buys time, but negative ROE of -543.82% and ROCE of -20.72% show capital is being consumed, not compounded. The moat is unproven. Quantum software may become valuable, but standards are unsettled, competitors are numerous, and there is no revenue-growth history to judge. FairStock's Lynch category is none because only 0 years of filed results are available and three are needed. At $15.18, FairStock calculates P/B of 18.74 and P/E of -41.03; the market cap is $589 million against almost no revenue. The Piotroski F-Score is 0/9, the FairStock Score is 23/100, and the Altman Z-Score of 348.71 reflects a very unusual low-liability structure more than operating strength. Graham would demand a margin of safety. Here the price rests on a distant quantum future, not on present earnings or assets. I can admire the technology and still call the valuation speculative.

In plain English: Horizon Quantum Holdings makes software tools that help programmers write programs for quantum computers using familiar languages like C and C++. The business looks very weak right now: in fiscal Q2 2025 it brought in only $38,462 of revenue and lost $2.9 million. At the 2026-10-13 close of $15.18 a share, the price looks expensive compared with those tiny sales and losses.

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Data as of 2026-10-13 close · note generated 2026-10-15 · model deepseek-flash

Fundamentals from company filings and market-data providers; prices are end-of-day, not real-time. AI-generated analysis is general and educational — not personal investment advice. Scoring methodology · Score test · Disclaimer