In the most recent period of Q1'26, IONQ's ROA stands at 12.03%, reflecting a positive return on assets and marking continued profitability after the turnaround in Q4'25. ROE is at 16.18%, indicating strong equity efficiency, while ROIC remains negative at -4.12%, highlighting ongoing challenges in capital returns. This latest data point, covering the period from Q2'23 to Q1'26, shows a shift toward overall improvement in asset and equity metrics. Over the timeframe from Q2'23 to Q1'26, ROA and ROE trended negative initially, fluctuating between -7.58% and -8.99% for ROA and -8.36% to -10.53% for ROE through Q2'24, before a sharp decline to -39.73% and -52.62% respectively in Q4'24, followed by a recovery to positive territory in Q4'25 at 11.47% and 19.84%. ROIC exhibited persistent negativity, worsening from -5.97% in Q2'23 to -15.98% in Q4'24, then stabilizing around -4.12% in Q1'26 with minimal improvement. The line chart reveals volatility in early periods, a critical inflection point of severe losses in Q4'24 likely due to operational pressures, and a subsequent positive trend in ROA and ROE, suggesting enhanced asset utilization despite ROIC's lag.