Vendome Acquisition Corp I (VNME) Stock Analysis
Vendome Acquisition Corp I
▾ What's in the 29/100 risk score? (higher = riskier)
Contributions (weight × component score) sum to the total. This near-term score now includes fundamental health (leverage, FCF trend). See the Financial Health section for the full balance-sheet read.
How to read VNME
We are not publishing an intrinsic value for this one — the section below says exactly why. Everything on this page that comes straight from the filings and the tape is still here; treat the missing valuation as a known gap, not as a verdict on the business.
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Reported earnings & margins ↓
What the company actually reported — unaffected by the valuation being held.
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Balance sheet & book value ↓
Assets, liabilities and equity as filed.
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Who's selling & betting against it ↓
Insider and short-interest behaviour needs no valuation model.
It files little or nothing with the SEC — so our cash-flow models, financial statements, and U.S. insider data (Form 4) don't apply. What's still real: the live U.S. price and short positioning. Here's what we could pull from other sources:
Vendome Acquisition Corporation I
📑 Read the real filings: latest SEC 10-Q ↗
Identity, share count and tier from FINRA + OTC Markets; not a substitute for the home-market financial statements. Thin U.S. disclosure + OTC trading is itself a risk factor.
How to read a company this small
This is a SPAC (Special Purpose Acquisition Company) or blank-check entity. There's no operating business yet — it's a pool of cash looking for a target to merge with.
- Cash in trust per share — typically $10.00 at IPO, slowly accrues interest
- Sponsor reputation and track record
- Time remaining to find a target (usually 18-24 months)
- Announced target (if any) and the proposed deal structure
- Warrant terms — usually 1/2 to 1/4 warrant per share at $11.50 strike
All operating metrics — there are no operations. Revenue, FCF, EBITDA are all near zero or sponsor expenses.
SEC filings for the S-1 prospectus. Recent 8-K filings for target announcements. SPACInsider for sponsor track records.
Classified as SPAC / Blank-Check Company (confidence 95%). Disagree? An admin can override via the post edit screen.
Quality & solvency checks
Cheap stocks can be cheap for a reason. These screens warn when a low valuation comes paired with structural fragility.
Why it matters: Cheap-looking stocks (low P/E or P/B) often have low Z-scores because the market knows the company is dying. Z-score warns you before you fall into a value trap.
Reference: > 3.0 = safe zone · 1.81–3.0 = grey zone · < 1.81 = distress zone
Full explanation →
The Z-score needs working capital, retained earnings, EBIT, sales and total assets from the latest balance sheet, and at least one of those isn't reported in machine-readable form here — common for foreign private issuers. We leave it blank rather than compute a distress verdict from an estimated input. It doesn't affect the reported figures in the financial tables below.
Why it matters: High score = fundamentals improving. Low score = deteriorating. Especially powerful for filtering cheap stocks: cheap + high F-score historically outperforms; cheap + low F-score is often a value trap.
Reference: 7–9 = strong · 4–6 = mediocre · 0–3 = weak
Full explanation →
The F-score compares two consecutive years of income, cash-flow and balance-sheet data. We have 1 year of income data for this filer, but no machine-readable balance sheet — so several of the nine checks have no input at all. We show nothing rather than score a partial year against itself. The reported figures in the financial tables below are unaffected.
A standard discounted cash flowDCF — Discounted Cash Flow — sums up all future cash a business will produce, adjusted for the fact that future dollars are worth less than dollars today.
Why it matters: It is the most fundamentally honest valuation method when applicable — but only works for companies with predictable, positive cash flow.
Reference: Best for: mature, profitable businesses. Fails for: pre-profit growth, banks, REITs.
Full explanation → (DCF) valuation is not meaningful for Vendome Acquisition Corp I because its operating cash flow is negative, indicating a pre-revenue or early-stage operational profile. Investors are likely betting on the successful completion of a de-SPAC transaction, which would bring a target company public and provide a new operational basis for valuation. The biggest risk is that the model implies no positive equity value under current assumptions, suggesting high speculation or a lack of fundamental business operations to value.
As of 11 days ago
Anatomy of a share
What you're buying per share. Bars are at the same scale so you can see the relative size of revenue, costs, cash flow, and debt — not just read them in a table.
What you actually need to decide
Every stock price is a disagreement. Here's the single thing that must go right for the bulls, the single thing that breaks the thesis, and the concrete signposts to watch so you can update your view as real results arrive.
- Announcement of a definitive merger agreement
- Shareholder vote on the proposed business combination
- Completion of the de-SPAC transaction
Management & Leadership
Vendome Acquisition Corp I is a Special Purpose Acquisition Company (SPAC). As such, it does not have traditional operational executives in the same way an operating company does. Its leadership typically consists of a CEO and a board focused on identifying and executing a merger or acquisition. Limited executive data available.
What They Make
Vendome Acquisition Corp I is a Special Purpose Acquisition Company (SPAC) formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses. Investors in the SPAC pay for units, typically consisting of common stock and warrants.
End Markets
Revenue Drivers
Why Is It Priced Like This?
Why Customers Pay
What we use instead: earnings (P/E, EV/EBIT), book value (P/B) — computed from the figures this company does report, shown in the sections below. Those numbers are unaffected by the missing cash-flow data.
The market prices VNME based on the expectation of a successful de-SPAC transaction and the potential future value of the acquired operating business, rather than current cash flows. The negative operating cash flow indicates it is not yet an operating company, making traditional cash flow valuation difficult. The market may be assigning value to the optionality of a high-growth private company being brought public, which is not in the model.
Business Model & Valuation
How They Make Money
As a SPAC, the company primarily funds itself through its initial public offering and holds proceeds in a trust account, which earns interest. It does not typically engage in dividends or buybacks prior to a business combination.
Growth / Revenue DCF
Negative free cash flow: revenue/margin growth model used - standard FCF DCF is unreliable for companies still scaling.
Show advanced inputs
| RevenueGrowth | 15.0% |
What this model does NOT do: this is a consolidated owner-earnings FCF model. Standalone segment assumptions: none. It does not project net interest income and fee-income lines independently; their combined effect is embedded in the historical revenue and cash-flow trend the model extrapolates. The calculator above can only approximate a segment's impact through the single consolidated growth rate — it cannot model any one line separately. For a true segment-level view, build a separate model from the company's segment disclosures.
Maturity & Competitive Position
Moat Signals
Not applicable as a SPAC, as it has no operational revenue track record prior to a business combination.
Geography & Markets
As a SPAC, Vendome Acquisition Corp I is typically domiciled in a jurisdiction like Delaware (US) for legal and regulatory purposes, but its search for a target company can be global, depending on its mandate. Specific geographic mix is not available from current data sources.
Geographic Risks
Market Signals
These are timing signals, not value signals — they describe the stock's recent price behavior, not what the business is worth. Use them for the "the thesis looks good, but is now the moment?" question. Each tile below explains what it's saying.
Why it matters: Short-term contrarian indicator. Extreme readings often precede mean reversion, though not always.
Reference: 30–70 normal · >70 overbought · <30 oversold
Full explanation → (14)74.7OverboughtBought up hard recently — stretched; pullbacks are common from here.
Why it matters: When the fast line crosses above the slow line, short-term momentum is turning up; below, turning down. A timing cue, not a value signal.
Reference: Line above signal = bullish momentum · below = bearish
Full explanation →BullishLine above signalThe fast trend is above the slow trend — short-term momentum is currently upward.
Technicals describe price, not the business. A great company can have a "bearish" tape (a buying chance) and a weak one a "bullish" tape (a trap). Pair these with the valuation and health sections above.
QUALITY
Data Quality & Risk Flags (9 notes — click to expand/collapse)
Guardrail Notes (9)
- FCF negative: revenue/margin growth model projects future cash flows from revenue trajectory.
- INVARIANT: weighted IV is non-positive. Model may not be appropriate.
- Model implies no positive equity value under these assumptions. Valuation is speculative/low-confidence.
- Shares from unknown — per-share values may be less accurate.
- Illiquidity discount 25% applied (small/micro-cap — harder to exit, demand a margin).
- Shares/market cap missing or defaulted; per-share valuation unreliable.
- Shares defaulted to 1; IV is NOT meaningful — treat as data-unavailable.
- VALUATION HELD (MISSING_SHARE_COUNT): per-share values suppressed due to shares/market cap missing or unreliable.
- Extreme valuation gap (P/IV null): result may be dominated by model assumptions, share count issues, or sector-specific dynamics. Treat as low confidence.
FINANCIALS
Financial Statements (5-year tables — click to expand)
From Vendome Acquisition Corp I's SEC filings (EDGAR).
Income (5yr)
| Year | Revenue | Net Income | EPS |
|---|---|---|---|
| 2025 | — | 3.9M | — |
Cash Flow (5yr)
| Year | Operating CF | CapEx | − SBC | Free Cash Flow |
|---|---|---|---|---|
| 2025 | -787,011 | — | — | -787,011 |
How we define FCF: operating cash flow − capital expenditure − stock-based compensation (owner-earnings basis — SBC is a real cost to shareholders even though it's non-cash). This is the same owner-earnings FCF definition the valuation model uses, though the DCF's starting value is a projected from revenue × terminal margin, not this single year.
Balance Sheet
| Total Assets | 204.6M |
| Total Liabilities | 204.2M |
| Equity | 404,679 |