Is HACQ or HCMA more undervalued in 2026?

CirclFi compares HCM IV Acquisition Corp. (HACQ) and HCM III Acquisition Corp. (HCMA) using 13 institutional-grade valuation models. HACQ has a Quality of Company score of 3.8/10 while HCMA scores 4.6/10.

Which is a better buy — HACQ or HCMA?

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 HACQ and HCMA valuations compare?

HACQ at $9.99 and HCMA at $10.27 are compared across Bayesian DCF, EPV, EROIC Spread, First Chicago, Markov DDM, and 8 additional models.

HACQ vs HCMA Valuation Comparison 2026 — Intrinsic Value Analysis

HACQ

Blank Checks

HCM IV Acquisition Corp.

Quality

3.8

out of 10

Value Trap

—

Price

$9.99

Last close

Models

7/13

Active

HCMA

Blank Checks

HCM III Acquisition Corp.

Quality

4.6

out of 10

Value Trap

—

Price

$10.27

Last close

Models

11/13

Active

Model-by-Model Comparison

Model	Type	HACQ Fair Value	HACQ Upside	HCMA Fair Value	HCMA Upside
Bayesian DCF	Intrinsic	$2.66	-73.4%	$0.34	-96.7%
Earnings Power Value	Intrinsic	—	—	$0.44	-95.7%
EROIC Spread	Intrinsic	$•••.••	••.•%	$•••.••	••.•%
First Chicago	Scenario	$•••.••	••.•%	$•••.••	••.•%
ML-RIV	Intrinsic	$•••.••	••.•%	$•••.••	••.•%
Dynamic NAV	Asset-Based	$3.41	-65.8%	$3.43	-66.6%
PWERM	Option-Based	$•••.••	••.•%	$•••.••	••.•%
Regime Cross-Sectional	Relative	$•••.••	••.•%	$•••.••	••.•%
Sentiment SOTP	Hybrid	$•••.••	••.•%	$•••.••	••.•%
CUCE Ensemble	Ensemble	$•••.••	••.•%	$•••.••	••.•%
RCMH-DCF	Intrinsic	$•••.••	••.•%	$•••.••	••.•%

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HACQ vs HCMA — Which Stock Is More Undervalued?

HCMA scores higher with a 4.6/10 quality rating vs HACQ's 3.8/10. Both stocks are analyzed daily using SEC EDGAR filings across 13 independent models.

Comparing HCM IV Acquisition Corp. (HACQ) and HCM III Acquisition Corp. (HCMA) 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.

HACQ currently trades at $9.99 with a QOC of 3.8/10, while HCMA trades at $10.27 with a QOC of 4.6/10.

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).