HCM IV Acquisition Corp. Class A Ordinary Share (HACQ)

Key Financials

AI Analysis

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

I approach HCM IV Acquisition Corp as a blank-check shell formed in 2025, not an operating business. The filed figures show revenue is n/a in both fiscal Q1 2026 and fiscal Q2 2026. In fiscal Q1 2026, the quarter ended 2026-03-31, net income was -$2.9 million; in fiscal Q2 2026, the quarter ended 2026-06-30, net income was $1.9 million. That swing may reflect non-operating items, but with no revenue I cannot judge a durable business or a competitive moat. FairStock's Piotroski F-Score is 1/9, which points to weak reported fundamentals by that calculation, while its Altman Z-Score of 12.03 suggests a strong balance-sheet signal under that model, though for a shell it is less informative than for an industrial company. The stock closed at $10.01 on 2026-10-16, near the top of its $9.86-$10.09 52-week range, with a $370.0 million market cap. P/E, P/B, EPS, ROE and ROCE are not available, so I cannot get a Graham-style margin of safety from earnings or assets. Growth is not measurable; there is no three-year record, so the computed Lynch category is none. The price seems tied to deal expectations rather than operating value. My conclusion is that this is a speculative promise, not a proven business; the high Altman score offers some comfort, but the weak Piotroski score, missing revenue, and short filing history leave little evidence of quality or a margin of safety at $10.01.

In plain English: HCM IV Acquisition Corp is a shell company formed in 2025 that is looking for a business to combine with. It reported no revenue, a $2.9 million loss in the quarter ended March 31, 2026, and $1.9 million of net income in the quarter ended June 30, 2026. At $10.01 the shares are near the top of their one-year range, and there are not enough operating numbers to call the price cheap or expensive.

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Data as of 2026-10-16 close · note generated 2026-10-20 · model deepseek-flash

Sources (SEC EDGAR): fiscal Q2 2026 10-Q (period ended 2026-06-30) · fiscal Q1 2026 10-Q (period ended 2026-03-31)

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