Quartzsea Acquisition Corporation Ordinary Shares (QSEA)

FairStock Score: 16/100 — RISKY

Key Financials

AI Analysis

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

As a value investor, I start with the business. Quartzsea is a shell company incorporated in 2024; it has no significant operations and no reported revenue. Its stated purpose is to merge with or acquire another business. That means there is no competitive moat to assess, no durable pricing power, and no operating history beyond the filings shown. The reported profits are modest: net income was $510,959 in FY2025, the year ended 2025-11-30; $529,085 in fiscal Q1 2026, the quarter ended 2026-02-28; $573,672 in fiscal Q2 2026, the quarter ended 2026-05-31; and $458,897 in fiscal Q3 2026, the quarter ended 2026-08-31. In fiscal Q3 2025, the quarter ended 2025-08-31, net income was $318,847. Those are not revenues, and diluted EPS is not given, so I treat them as thin, non-operating-looking results. At the 2026-10-13 close of $10.71, market cap is $108.5M. FairStock calculations put the P/E at 63, the Graham Number at $5.26, and the margin of safety at -103.61%; the quoted price is far above what reported earnings alone would justify. Free cash flow is negative: -$908,619 trailing twelve months, a -0.8% FCF yield. The Piotroski F-Score is 2/9, ROCE is -2.77%, and the PEG ratio of 0.03 is distorted by tiny, uneven earnings. The Altman Z-Score of 14.52 may look healthy, but for an empty shell it is not a conventional safety signal. FairStock's 16/100 score and a Lynch category of none, because only one year of filed results is available versus the three needed, reinforce caution. This is a speculative vehicle, not a proven business.

In plain English: Quartzsea Acquisition Corporation is a shell company with no real business operations yet; it was formed to merge with or buy another company. It reported no revenue and only small profits in recent filings. The shares trade near $10.71, close to the top of their 52-week price range, but the company's numbers look weak and the price looks expensive relative to the limited earnings and value measures shown.

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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 2026-08-31) · fiscal Q2 2026 10-Q (period ended 2026-05-31) · fiscal Q1 2026 10-Q (period ended 2026-02-28) · fiscal Q3 2025 10-Q (period ended 2025-08-31) · FY2025 10-K (period ended 2025-11-30)

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