Is BTM or COHN more undervalued in 2026?

CirclFi compares Bitcoin Depot Inc. (BTM) and Cohen & Company Inc. (COHN) using 13 institutional-grade valuation models. BTM has a Quality of Company score of 7.7/10 while COHN scores 8.3/10.

Which is a better buy — BTM or COHN?

Compare intrinsic values from 13 independent models against current market prices. CirclFi also calculates Value Trap scores. This is not financial advice — conduct your own analysis.

How do BTM and COHN valuations compare?

BTM at $0.49 and COHN at $11.30 are compared across Bayesian DCF, EPV, EROIC Spread, First Chicago, Markov DDM, and 8 additional models.

BTM vs COHN Valuation Comparison 2026 — Intrinsic Value Analysis

BTM

Capital Markets

Bitcoin Depot Inc.

Quality

7.7

out of 10

Value Trap

SAFE

Price

$0.49

Last close

Models

2/13

Active

COHN

Capital Markets

Cohen & Company Inc.

Quality

8.3

out of 10

Value Trap

SAFE

Price

$11.30

Last close

Models

6/13

Active

Model-by-Model Comparison

Model	Type	BTM Fair Value	BTM Upside	COHN Fair Value	COHN Upside
Bayesian DCF	Intrinsic	—	—	$5.19	-54.1%
EROIC Spread	Intrinsic	—	—	$12.24	+8.3%
Markov DDM	Intrinsic	$1.53	+210.1%	—	—
ML-RIV	Intrinsic	$2.04	-69.6%	$8.79	-52.3%
Regime Cross-Sectional	Relative	$•••.••	••.•%	$•••.••	••.•%
FTNN Topology	Relative	$•••.••	••.•%	$•••.••	••.•%
RCMH-DCF	Intrinsic	$•••.••	••.•%	$•••.••	••.•%

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BTM vs COHN — Which Stock Is More Undervalued?

COHN scores higher with a 8.3/10 quality rating vs BTM's 7.7/10. Both stocks are analyzed daily using SEC EDGAR filings across 13 independent models.

Comparing Bitcoin Depot Inc. (BTM) and Cohen & Company Inc. (COHN) across 13 institutional-grade valuation models reveals how each company's intrinsic value stacks up against its market price. CirclFi's engine processes SEC EDGAR 10-K and 10-Q filings, FRED macroeconomic data, and GDELT news sentiment to generate independent fair value estimates daily.

BTM currently trades at $0.49 with a QOC of 7.7/10, while COHN trades at $11.30 with a QOC of 8.3/10.

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 Topology), and ensemble methods (CUCE).