Perimeter Acquisition Corp. I Class A Ordinary Shares (PMTR)

FairStock Score: 21/100 — RISKY

Key Financials

AI Analysis

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

I look for a business with durable competitive advantages, honest stewards, and a sensible price. Perimeter Acquisition Corp. I is not an operating business. It is a blank-check shell incorporated in 2025, based in Dallas, with no significant operations. Its stated purpose is to merge with or acquire one or more companies. That means there is no product, customer, or moat to evaluate today; the investment case is entirely about the deal it may or may not do. The filed figures show net income of $1.9 million in fiscal Q2 2026 (quarter ended 2026-06-30), $1.5 million in fiscal Q1 2026, $2.3 million in fiscal Q3 2025, and $874,490 in fiscal Q2 2025. Revenue is not reported in those filings, so I cannot judge operating quality. FairStock calculates a P/E of 37.29 at the $10.44 close on 2026-10-13, a Graham Number of $7.05, and a margin of safety of -48.09%, implying the price is well above that conservative value measure. It also shows negative trailing free cash flow of $860,150, a -0.3% FCF yield, Piotroski 2/9, and a 21/100 FairStock score. The Altman Z-Score of 19.27 suggests low balance-sheet distress risk, but SPAC accounting can make that misleading. Profit growth of 122.29% is not enough for me without revenue or a known operating asset. No Lynch category is assigned because only zero years of filed results exist where three are needed. The key issue is capital allocation: price paid for a future merger, dilution, and trust value. Until a target is identified and terms are clear, this is speculation, not value investing.

In plain English: The company is a shell with no real operations; it exists to merge with another business. It has reported small quarterly profits but no revenue, and its cash flow is negative. At $10.44, the price looks expensive compared with the limited numbers available.

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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)

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