Vendome Acquisition Corp I

VNMEdata completeness 50%1 fiscal years on file
The thesis, from the filings

Vendome Acquisition Corp I earns about 956% on equity. The cash-flow models don't apply cleanly here — the ledger says why below. Whether it’s worth owning at today’s price is the last question — and yours to answer, below.

i. The business — what you’d actually own
FigureFY 2025
Revenue—
Net income$3.87M1
Operating cash flow−$787,0112
Capital expenditure—
Free cash flow (derived)—
Total debt—
Cash & equivalents$304,5763
Diluted shares—

Superscripts are receipts. Each links to the SEC filing the number came from (full list at the bottom). A derived or summed figure cites every filing line it was built from.

iii. Is this a good business?
Moat signal · return on equity
956% avg · 1y
FY25 956%

It earned an average 956% on equity over 1 years. Compare that to what it costs to fund the business.

seeing a moat in the numbers →
Management signal · capital allocation
— shares · 1y

Not enough history to read capital allocation.

reading capital allocation →

Signals, not verdicts — read from the filings above. Numbers don’t prove a moat; they show its footprint. You decide.

iv. What it’s worth — engine v0.6.0
not applicable
only 0 years of FCF (need ≥3) — model not applicable
not applicable
only 0 years of FCF (need ≥3) — model not applicable
not applicable
only 1 years of net income (need ≥3)
not applicable
diluted EPS missing or non-positive — Graham Number undefined

Different models answer different questions — which to trust when →

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Sources — the receipts
  1. 10-K filed 2026-03-20 · period ending 2025-12-31 · accession 0001140361-26-010592 (NetIncomeLoss)
  2. 10-K filed 2026-03-20 · period ending 2025-12-31 · accession 0001140361-26-010592 (NetCashProvidedByUsedInOperatingActivities)
  3. 10-K filed 2026-03-20 · period ending 2025-12-31 · accession 0001140361-26-010592 (CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents)