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Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares (XNDU) fair value: what the stock is really worth

As of Oct 30, 2026: fair value (intrinsic value) of Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares stock $0.44, price $2.89, that is 84.8% below the price, quality 40 out of 100. Rating: strongly overvalued. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.

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Technology US · Based in Canada · ISIN CA98390R1029

XQ Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares logo Thin data Oct 30, 2026

Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares

XNDU · US
Weakest Setup

Our calculation puts a fair price 85% below what the stock costs today.

Low debt
Revenue last quarter +43% vs. a year ago.
Quality 40/100
Expensive Growth (revenue YoY +190.6 %/yr in USD)
Fair value $0.4400 · Strongly overvalued (−84.8%)
Negative free cash flow
Trails peers (1/6)
Narrow moat 6/100 · thin data
Thin data
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What runs behind every stock

26 valuation models 8 families, DCF to NCAV 37 quality factors margins, balance sheet, cashflow, debt 6 AI factors moat, what no ratio measures 2,000+ data points verified, per stock, median

69 individual criteria per stock, every one traceable See the method →

Price vs Fair Value

$36.12 $2.56 Fair Value $0.4400 Mar 2026 Oct 2026

White line = price, green steps = our fair value per fiscal year. As of Oct 30, 2026.

How to read this chart

7‑month range $2.56 – $36.12 · fair‑value band $0.3300 – $0.6600 · the $2.89 price screens above the $0.4400 fair value. As of Oct 30, 2026.

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Company profile

Xanadu Quantum Technologies Limited develops and provides photonic quantum computing technology and related software solutions and applications, including cloud-based access to quantum computers and tools for quantum programming and simulation.

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The company provides access to photonic quantum computers through x-series devices available via the cloud, supporting programmable quantum gates and photon-number resolving detectors.

It offers Pennylane, a cross-platform python library that enables a paradigm and quantum differentiable programming that enables integration with machine learning tools; and Catalyst for just-in-time compilation and optimization of quantum algorithms.

It also provides users with access to documentation, guides, and community-led resources for quantum machine learning, quantum chemistry simulations, and other quantum computing applications, along with collaboration and support from a team of quantum experts.

The company serves professional clients in the quantum computing, software development, and machine learning sectors, as well as advanced users in research and development, including those utilizing high-performance computing and quantum hardware.

Xanadu Quantum Technologies Limited was incorporated in 2016 and is based in Toronto, Canada.

Stock analysis

Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares (XNDU) currently trades at $2.89, while our model-based Fair Value estimate is $0.4400, 84.8% below the price, so the stock looks overvalued today.

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Valuation

How firm this estimate is: it rests on 1 models at a data quality of 88/100, which puts the data coverage at low.

Scenario range: $0.3300 (bear) to $0.6600 (bull), the price of $2.89 sits above it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.

Quality & growth

The Quality Score stands at 40/100 (below-average quality), in the Technology sector.

Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.

Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares reported revenue of C$4.6M in FY2025 versus C$2.5M in FY2023, a compound +36.5%/yr. Reported net income was −C$70.7M in FY2025.

Key figures

Market cap $977M · EPS (TTM) $−0.4400 · Return on equity −56.4% · Return on assets (EBIT) −31.1% · Operating margin −1,985% · Revenue (TTM) C$7.2M · Revenue growth (YoY) +43.0% · Free cash flow −C$2.7M.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 6 out of 100 (low confidence).

What moves the price

For context, the median of 10 Technology peers we cover trades at −21% fair-value upside, at −85%, XNDU screens richer than that median.

Fair Value models

Bear $0.3300 Fair Value $0.4400 Bull $0.6600
Price $2.89 · Downside -84.8%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds. Coverage ⓘCoverage = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Best data coverage
NCAV (Graham) $0.3100 $0.4100 $0.6200 54
All 1 models by family
Asset-Based
NCAV (Graham) $0.3100 $0.4100 $0.6200 54

Open the full fair value analysis →

Quality Score breakdown

Overall quality 40/100

It rates the business: profits, how they develop, real cash, balance sheet, investing and share count.

Profitability 1
How much profit the company makes from its sales and capital
Quality Growth 90
Are margins and returns getting better?
Cashflow 0
Do the profits arrive as real cash?
Financial strength 74
Debt, balance sheet and risk of trouble
Investment 0
Does it invest with discipline instead of growing at any price?
Low Volatility 0
How calm the share price moves, does not count
Price momentum 0
Price momentum of the last 3 to 12 months, does not count
Near the 52-week high 0
Distance to the 52-week high, does not count
New shares 90
Buys back shares or issues new ones?

Open the full quality analysis →

Revenue & earnings trend

Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card. 38/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: only 3 usable fiscal years, at least 4 required
not computed

XNDU screens overvalued: fair value 85% below the price. Compare with Microsoft Corporation →

Recent news

News mood ⓘNews mood, the average tone of recent news (94 articles), rated against how stocks are usually covered. 🚀 Hype = unusually upbeat · 🙂 Positive = above average · 😐 Neutral = typical · 🙁 Negative = below average · 😨 Very negative = unusually downbeat. It reflects the tone of coverage, not our valuation. Negative
Recent news coverage is more negative than average.

Compare Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares with another stock

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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Software - Infrastructure · 341 stocks

Beats the industry median on 1/5 measures
Overall it trails its industry peers.
Valuation
Quality Score 40 · Bottom 25%
Fair Value upside −84.8% · Bottom 25%
Profitability
Return on assets −22.7% · Bottom 25%
Growth and dividend
Revenue growth (quarter YoY) 43.0% · Top 25%
Balance sheet
Debt / equity 0.10× · Above median

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)0 · sector 20
FUTURE (revenue growth)100 · sector 60
PAST (return on equity)0 · sector 23
HEALTH (low debt)95 · sector 98
DIVIDEND (yield)0 · sector 30

VALUE 0: the price sits above our fair-value range.

Context: sector, industry, market

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

Similar stocks

10 more Software - Infrastructure stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value Compare
Microsoft Corporation MSFT $521.91 $574.10 +10% vs XNDU
Fortinet, Inc FTNT $136.08 $149.69 +10% vs XNDU
Block, Inc XYZ $76.22 $76.95 +1% vs XNDU
Oracle Corporation ORCL $130.67 $111.97 −14% vs XNDU
NetApp, Inc NTAP $199.18 $156.80 −21% vs XNDU
Synopsys, Inc SNPS $467.61 $288.23 −38% vs XNDU
Palantir Technologies Inc PLTR $184.11 $42.42 −77% vs XNDU
CrowdStrike Holdings CRWD $250.43 $37.97 −85% vs XNDU
Twilio Inc TWLO $205.03 $24.38 −88% vs XNDU
Palo Alto Networks, Inc PANW $365.87 $39.54 −89% vs XNDU

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Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares: fair value per Fair Value Calculator

Cite: Fair Value Calculator (2026). "Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares Fair Value". https://www.fairvalue-calculator.com/stock/XNDU

Frequently asked questions

Is Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares (XNDU) overvalued or undervalued?
As of Oct 30, 2026, our model estimates a fair value of $0.4400 versus a price of $2.89, about 85% lower (overvalued).
What is the fair value of XNDU?
Our model-based fair value for Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares is $0.4400 (as of Oct 30, 2026), built from audited fundamentals. The current price: $2.89.
What is the quality score of XNDU?
Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares has a Quality Score of 40/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares (XNDU)?
Our model-based price target is the fair value of $0.4400 (as of Oct 30, 2026) from 1 valuation models. Cautious scenario $0.3300, optimistic scenario $0.6600. It is a calculation from audited fundamentals, not an analyst target.
What is the Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares stock forecast for 2026?
Our models put fair value at $0.4400, about 85% lower versus a price of $2.89 (overvalued). Cautious scenario $0.3300, optimistic scenario $0.6600. The calculation is refreshed regularly with new filings.
What is the revenue of Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares (XNDU)?
Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares reported trailing-twelve-month revenue of about C$7.2M (latest available figure, as of Oct 30, 2026).
What is the intrinsic value of Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares (XNDU)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares it is $0.4400 per share (as of Oct 30, 2026), against a price of $2.89. It is the blended result of 1 valuation models (cash flow, earnings, asset, dividend).
Is Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares stock overvalued or undervalued in 2026?
As of Oct 30, 2026, XNDU trades above its calculated fair value: price $2.89, fair value $0.4400, a gap of about −85% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of XNDU?
No. The price is what the market pays today ($2.89); the fair value is what the company's own numbers justify ($0.4400). For Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares the two are $2.45 per share apart. That gap is exactly why we show both numbers side by side.
How much is Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares worth?
The market values Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares at about $977M (market capitalisation, as of Oct 30, 2026). Per share that is $2.89; our models calculate a fair value of $0.4400 per share.
What do the bullish and bearish scenarios say about XNDU?
Our models span a range for Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares: cautious scenario $0.3300, base $0.4400, optimistic $0.6600 per share (as of Oct 30, 2026, price $2.89). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares (XNDU)?
Balance-sheet figures for Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares (as of Oct 30, 2026): return on equity −56.4%, debt of 0.10 per unit of equity. They feed the Quality Score of 40/100, which measures business quality independently of the share price.
Which stocks are comparable to Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares?
From the same area (Technology) we also value Microsoft Corporation, Palantir Technologies Inc, Oracle Corporation, Palo Alto Networks, Inc, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares stock attractive at the current price?
The data as of Oct 30, 2026: price $2.89, calculated fair value $0.4400 (−85%), Quality Score 40/100, from 1 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of XNDU calculated?
We run Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares through 1 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of $0.4400, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 15.2 % above its aggregate fair value. Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares (XNDU)?
The closing price on Oct 30, 2026 was $2.89. Our model-based fair value is $0.4400, about 85% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares right now?
The price sits above even our optimistic bull case ($0.6600). The favourable scenario is already priced in. Weak quality (40/100) and above fair value at the same time, the margin of safety is missing on both counts. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution. A fairly wide model range ($0.3300 to $0.6600) leaves room in how you read the outcome.

Key figures of Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares

How large is the market capitalisation of Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares (XNDU)?
The market capitalisation of Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares is $977M. The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What are the earnings per share of Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares (XNDU)?
Earnings per share at Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares are $−0.4400. Earnings per share over the last twelve months: total profit spread across every single share.
What is the return on equity of Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares (XNDU)?
The return on equity (ROE) of Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares is −56.4% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares (XNDU)?
On an EBIT basis the return on assets of Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares is −31.1% (avg 3y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares (XNDU)?
The operating margin of Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares is −1,985% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares (XNDU)?
Revenue at Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares is growing +43.0% versus a year earlier. How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How much free cash flow does Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares (XNDU) generate?
The free cash flow of Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares is −C$2.7M (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net cash does Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares (XNDU) hold?
Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares holds more cash than debt, C$367K net (fiscal year 2025). The company holds more cash than debt, a safety cushion.
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