Andretti Acquisition Corp. II Class A Ordinary Shares (POLE)

FairStock Score: 21/100 — RISKY

Key Financials

AI Analysis

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

I am looking at Andretti Acquisition Corp. II, and I see a shell, not an operating business. It has two employees and no revenue. Filed figures show net income of $2.0 million in fiscal Q2 2026 (quarter ended 2026-06-30), $1.8 million in fiscal Q1 2026 (quarter ended 2026-03-31), and $8.4 million in FY2025 (period ended 2025-12-31). But earnings in a SPAC often reflect trust income or accounting, not durable operating profit; the supplied profit growth is -12.08%. There is no competitive moat because there is no business to defend. Free cash flow is negative $1.5 million TTM, a -0.5% FCF yield. At the $10.73 close on 2026-10-13, FairStock calculations show a P/E of 41.27 and a Graham Number of $6.87, implying the price is 56.19% above that conservative value. A Piotroski F-Score of 2/9 and FairStock score of 21/100 confirm weak quality. ROE is not available, and ROCE is -0.37%. The Altman Z-Score of 17.10 looks high, but for a shell with no operations it is not a conventional safety signal. The Lynch category is none because only one year of filed results exists, while three are needed. The investment case depends entirely on a future merger and its terms, not on present earnings. I would demand a wide discount, clear deal protections, and a management record; here the price offers little margin of safety.

In plain English: This is a blank-check company with no real operations; it exists to merge with or buy another business. It has only two employees and reports no revenue, while its profits come from non-operating items rather than selling products or services. At $10.73, the price looks expensive compared with its conservative asset-based value, and the overall scorecard is weak.

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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) · 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