BIII vs CUB

Black Spade Acquisition III Co vs Lionheart Holdings — Valuation Comparison 2026

By CirclFi Research Team · Updated 2026-06-03 · Data from SEC EDGAR, FRED & GDELT

Quick Summary — CUB scores higher on quality with 4.6/10 vs BIII's 4.1/10. BIII trades at $9.94 while CUB trades at $10.84. Both analyzed daily using SEC EDGAR data across 13 institutional models.

BIII

Blank Checks
Black Spade Acquisition III Co
Quality
4.1
out of 10
Value Trap
Price
$9.94
Last close
Models
7/13
Active
VS

CUB

Blank Checks
Lionheart Holdings
Quality
4.6
out of 10
Value Trap
Price
$10.84
Last close
Models
11/13
Active
BIII
2 models active
Quality 4.1/10 — below average
CUB
2 models active
Quality 4.6/10 — below average

BIII vs CUB — Fair Value Comparison

BIII
$0$4$8$12 Price$9.94 Bayesian …$0.14 (-98.5%) Dynamic N…$3.50 (-64.7%)
CUB
$0$4$9$13 Price$10.84 Bayesian …$1.05 (-90.4%) Earnings …$1.44 (-86.7%)
Market Price Model 1 Model 2

Model-by-Model Comparison

ModelType BIII Fair ValueBIII Upside CUB Fair ValueCUB Upside
Bayesian DCF Intrinsic $0.14 -98.5% $1.05 -90.4%
Earnings Power Value Intrinsic $1.44 -86.7%
EROIC Spread Intrinsic $•••.•• ••.•% $•••.•• ••.•%
First Chicago Scenario $•••.•• ••.•% $•••.•• ••.•%
ML-RIV Intrinsic $•••.•• ••.•% $•••.•• ••.•%
Dynamic NAV Asset-Based $3.50 -64.7% $3.71 -65.8%
PWERM Option-Based $•••.•• ••.•% $•••.•• ••.•%
Regime Cross-Sectional Relative $•••.•• ••.•% $•••.•• ••.•%
Sentiment SOTP Hybrid $•••.•• ••.•% $•••.•• ••.•%
CUCE Ensemble Ensemble $•••.•• ••.•% $•••.•• ••.•%
RCMH-DCF Intrinsic $•••.•• ••.•% $•••.•• ••.•%

BIII vs CUB — Which Stock Is More Undervalued in 2026?

CUB scores higher with a 4.6/10 quality rating vs BIII's 4.1/10. Both stocks are analyzed daily using SEC EDGAR filings across 13 independent models.

How Do BIII and CUB Valuations Compare?

At $9.94, BIII trades +98.5% above its Bayesian DCF fair value of $0.14, while CUB at $10.84 trades +90.4% above its estimate of $1.05. BIII shows a wider gap between price and intrinsic value.

Quality of Company: BIII vs CUB

BIII earns a Quality of Company score of 4.1/10 compared to CUB's 4.6/10. The scores are closely matched, indicating similar fundamental quality profiles. The QOC score synthesizes 32 signals spanning profitability margins, revenue growth, free cash flow, capital allocation, and leverage.

Value Trap Risk: BIII vs CUB

Review the value trap analysis for both BIII and CUB to assess whether apparent undervaluation reflects genuine opportunity or hidden fundamental risk.

Both in Blank Checks

Both BIII and CUB operate in Blank Checks, which has 19 stocks tracked by CirclFi. Same-industry comparisons provide the most direct insight into relative valuation since both companies face similar regulatory environments, market dynamics, and competitive pressures. Both companies are analyzed with models spanning intrinsic (Bayesian DCF, EPV), scenario-based (First Chicago), regime-switching (Markov DDM, RCMH-DCF), machine learning (ML-RIV, FTNN), and ensemble methods (CUCE).

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