Is IBAC or ILLU more undervalued in 2026?

CirclFi compares IB Acquisition Corp. (IBAC) and Illumination Acquisition Corp I (ILLU) using 13 institutional-grade valuation models. IBAC has a Quality of Company score of 4.9/10 while ILLU scores 1.7/10.

Which is a better buy — IBAC or ILLU?

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 IBAC and ILLU valuations compare?

IBAC at $10.79 and ILLU at $9.89 are compared across Bayesian DCF, EPV, EROIC Spread, First Chicago, Markov DDM, and 8 additional models.

IBAC vs ILLU Valuation Comparison 2026 — Intrinsic Value Analysis

IBAC

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IB Acquisition Corp.

Quality

4.9

out of 10

Value Trap

—

Price

$10.79

Last close

Models

11/13

Active

ILLU

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Illumination Acquisition Corp I

Quality

1.7

out of 10

Value Trap

—

Price

$9.89

Last close

Models

7/13

Active

Model-by-Model Comparison

Model	Type	IBAC Fair Value	IBAC Upside	ILLU Fair Value	ILLU Upside
Bayesian DCF	Intrinsic	$1.08	-89.9%	$2.62	-73.6%
Earnings Power Value	Intrinsic	$1.87	-82.7%	—	—
EROIC Spread	Intrinsic	$•••.••	••.•%	$•••.••	••.•%
First Chicago	Scenario	$•••.••	••.•%	$•••.••	••.•%
ML-RIV	Intrinsic	$•••.••	••.•%	$•••.••	••.•%
Dynamic NAV	Asset-Based	$•••.••	••.•%	$•••.••	••.•%
PWERM	Option-Based	$7.73	-28.3%	$9.28	-6.1%
Regime Cross-Sectional	Relative	$•••.••	••.•%	$•••.••	••.•%
Sentiment SOTP	Hybrid	$•••.••	••.•%	$•••.••	••.•%
CUCE Ensemble	Ensemble	$•••.••	••.•%	$•••.••	••.•%
RCMH-DCF	Intrinsic	$•••.••	••.•%	$•••.••	••.•%

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IBAC vs ILLU — Which Stock Is More Undervalued?

IBAC scores higher with a 4.9/10 quality rating vs ILLU's 1.7/10. Both stocks are analyzed daily using SEC EDGAR filings across 13 independent models.

Comparing IB Acquisition Corp. (IBAC) and Illumination Acquisition Corp I (ILLU) 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.

IBAC currently trades at $10.79 with a QOC of 4.9/10, while ILLU trades at $9.89 with a QOC of 1.7/10.

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).