Is HMR or ICON more undervalued in 2026?

CirclFi compares Heidmar Maritime Holdings Corp. (HMR) and Icon Energy Corp. (ICON) using 13 institutional-grade valuation models. HMR has a Quality of Company score of 5.2/10 while ICON scores 4.2/10.

Which is a better buy — HMR or ICON?

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 HMR and ICON valuations compare?

HMR at $1.23 and ICON at $1.40 are compared across Bayesian DCF, EPV, EROIC Spread, First Chicago, Markov DDM, and 8 additional models.

HMR vs ICON Valuation Comparison 2026 — Intrinsic Value Analysis

HMR

Deep Sea Foreign Transportation of Freight

Heidmar Maritime Holdings Corp.

Quality

5.2

out of 10

Value Trap

SAFE

Price

$1.23

Last close

Models

11/13

Active

ICON

Deep Sea Foreign Transportation of Freight

Icon Energy Corp.

Quality

4.2

out of 10

Value Trap

SAFE

Price

$1.40

Last close

Models

9/13

Active

Model-by-Model Comparison

Model	Type	HMR Fair Value	HMR Upside	ICON Fair Value	ICON Upside
Bayesian DCF	Intrinsic	$1.60	+30.2%	$3.07	+171.3%
Earnings Power Value	Intrinsic	$0.70	-43.2%	—	—
EROIC Spread	Intrinsic	$•••.••	••.•%	$•••.••	••.•%
First Chicago	Scenario	$•••.••	••.•%	$•••.••	••.•%
ML-RIV	Intrinsic	$•••.••	••.•%	$•••.••	••.•%
Dynamic NAV	Asset-Based	$0.16	-80.3%	$0.42	-70.3%
PWERM	Option-Based	$•••.••	••.•%	$•••.••	••.•%
Regime Cross-Sectional	Relative	$•••.••	••.•%	$•••.••	••.•%
Sentiment SOTP	Hybrid	$•••.••	••.•%	$•••.••	••.•%
CUCE Ensemble	Ensemble	$•••.••	••.•%	$•••.••	••.•%
FTNN Topology	Relative	$•••.••	••.•%	$•••.••	••.•%
RCMH-DCF	Intrinsic	$•••.••	••.•%	$•••.••	••.•%

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HMR vs ICON — Which Stock Is More Undervalued?

HMR scores higher with a 5.2/10 quality rating vs ICON's 4.2/10. Both stocks are analyzed daily using SEC EDGAR filings across 13 independent models.

Comparing Heidmar Maritime Holdings Corp. (HMR) and Icon Energy Corp. (ICON) 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.

HMR currently trades at $1.23 with a QOC of 5.2/10, while ICON trades at $1.40 with a QOC of 4.2/10.

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).