CSLM Digital Asset Acquisition Corp III Class A Ordinary Shares (KOYN)

FairStock Score: 16/100 — RISKY

Key Financials

AI Analysis

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

In my book, a business must produce something. This one does not have significant operations; it is a blank check looking for a merger. It reports no revenue. The filed figures show net income of $1.8M for FY2025 (period ended 2025-12-31), $1.5M in fiscal Q2 2026 (quarter ended 2026-06-30), $1.3M in fiscal Q1 2026 (quarter ended 2026-03-31), $91,073 in fiscal Q3 2025 (quarter ended 2025-09-30), and a loss of $60,675 in fiscal Q2 2025 (quarter ended 2025-06-30). Those figures are not accompanied by revenue, so they do not reflect an operating business. Free cash flow trailing twelve months was negative $1.3M, a negative 0.4% FCF yield. FairStock's Piotroski score is 1/9, and its FairStock Score is 16/100. The Altman Z-Score of 18.91 reflects a cash-heavy shell, not a moat. There is no competitive moat because there is no business. At the $10.26 close on 2026-10-13, market cap is $318.4M. FairStock reports P/E of -10.69 and EPS of -$0.96. The 52-week range is $9.92-$10.29, so it trades near its high. Without a target, I cannot judge the deal, only the shell. The Lynch category is none because only one year of filed results exists; three are needed. I would watch for a merger announcement, trust value, redemptions, and post-deal financials. Until then, it is speculation, not investment.

In plain English: CSLM Digital Asset Acquisition Corp III is a shell company with no real operations. It was formed to merge with or buy another business, so its reported income does not come from selling products or services. The stock trades near $10.26, close to the top of its 52-week range, and because there are no revenues or steady operating profits, the price looks more like a placeholder for a future deal than a cheap or expensive operating business.

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 Q2 2026 10-Q (period ended 2026-06-30) · fiscal Q1 2026 10-Q (period ended 2026-03-31) · fiscal Q3 2025 10-Q (period ended 2025-09-30) · fiscal Q2 2025 10-Q (period ended 2025-06-30) · FY2025 10-K (period ended 2025-12-31)

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