IB Acquisition Corp. Common Stock (IBAC)

FairStock Score: 12/100 — RISKY

Key Financials

AI Analysis

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

I look at IB Acquisition Corp. and my first thought is that this is not an operating business at all. The filings show no revenue in fiscal Q1 2026, the quarter ended 2025-12-31; fiscal Q2 2026, the quarter ended 2026-03-31; or fiscal Q3 2026, the quarter ended 2026-06-30. The company says it has no significant operations and is a shell seeking a merger or acquisition. There is no competitive moat to assess, no pricing power, and no normal growth engine. What exists is capital and a management team looking for a deal. The reported profit history is erratic. Net income was -$567,166 in fiscal Q3 2026, the quarter ended 2026-06-30; -$639,866 in fiscal Q2 2026, the quarter ended 2026-03-31; and -$58,902 in fiscal Q1 2026, the quarter ended 2025-12-31. That followed +$818,610 in fiscal Q3 2025, the quarter ended 2025-06-30, and positive years: $3.4M in FY2025, the year ended 2025-09-30; $1.9M in FY2024, the year ended 2024-09-30; and a loss of -$6,844 in FY2023, the year ended 2023-09-30. The Lynch category is TURNAROUND, but for a shell these swings often reflect trust interest and expenses, not operations. Financial health is mixed. FairStock's Altman Z-Score of 12.65 suggests low distress, but its Piotroski F-Score of 1/9 is weak. Trailing free cash flow is -$1.8M, a FCF yield of -3.4%, and FairStock's P/E is -63.88 at the 2026-10-13 close. The ROE of 6,619.30% is distorted by a tiny equity base and is not a quality signal. Valuation is really a bet on a future deal. At $10.86, market cap is $54.4M. Without a target, operating financials, or trust details, I cannot call this cheap on Graham principles. It is event speculation, and the margin of safety is unclear.

In plain English: IB Acquisition is a company with no real operations; it exists to find and merge with another business. It has been losing money in recent quarters and uses more cash than it brings in, so the underlying business does not look strong. At $10.86, the price is near the lower end of its recent range, but without a real operating business it is hard to say whether it is cheap, fair or expensive on ordinary business numbers.

The full AI analysis, bull and bear case and key monitorables are in FairStock Pro.

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

Sources (SEC EDGAR): fiscal Q3 2026 10-Q (period ended 2026-06-30) · fiscal Q2 2026 10-Q (period ended 2026-03-31) · fiscal Q1 2026 10-Q (period ended 2025-12-31) · fiscal Q3 2025 10-Q (period ended 2025-06-30) · FY2025 10-K (period ended 2025-09-30) · FY2024 10-K (period ended 2024-09-30) · FY2023 10-K (period ended 2023-09-30)

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