Equity Research Analysis: Cartesian Growth Corp III (CGCT)
|Blank Capital Research Unit|Spot: $10.27
Price$10.27
Composite Score48.0/100
RatingREDUCE (2★)
Rank#2324 OF 7,333
Market Cap$351M
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Verdict
Quantitative factor alignment verified for current market regime.
Quant Score
Rank
#2324
Positioning
Market Dominance
Finance, Insurance, And Real Estate
Trading
$351M
Peter Yu
We are a blank check company incorporated on October 29, 2024 as a Cayman Islands exempted company and formed for the purpose of effecting a merger, amalgamation, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses or entities, which we refer to throughout this prospectus as our initial business combination. Our executive offices are located in New York, New York.
Headcount
2
HQ Base
NEW YORK, New York
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| Stock | Rating | Score▼ | Quality | Value | Momentum | P/E | EV/EBITDA | ROE | ROA | Gross Mgn | Op Mgn | Net Mgn | Rev Growth | Div Yield | D/E | Mkt Cap | AUDIT |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
$SII SPROTT INC. | 75 | 91 | 87 | 98 | - | - | - | - | - | - | - | - | - | - | $0 | VS | |
$PUK PRUDENTIAL PLC | 73 | 88 | 97 | 80 | - | - | - | - | - | - | - | - | - | - | $0 | VS | |
$NMR NOMURA HOLDINGS INC | 72 | 81 | 92 | 87 | - | - | - | - | - | - | - | - | - | - | $0 | VS | |
$PSLV Sprott Physical Silver Trust | 69 | 82 | 80 | 98 | - | - | - | - | - | - | - | - | - | - | $0 | VS | |
$UFCS UNITED FIRE GROUP INC | 68 | 81 | 93 | 76 | 5.0x | 3.5x | 13.2% | 4.1% | 99.9% | 14.7% | 11.1% | 9.2% | 2.1% | 16.0x | $775M | VS | |
$SLF SUN LIFE FINANCIAL INC | 68 | 83 | 95 | 63 | - | - | - | - | - | - | - | - | - | - | $0 | VS | |
$CBOE Cboe Global Markets, Inc. | 68 | 75 | 63 | 77 | 21.3x | 15.7x | 24.0% | 13.7% | 41.7% | 32.4% | 26.4% | 8.2% | 1.1% | 30.0x | $25.7B | VS | |
$VTMX Vesta Real Estate Corporation, S.A.B. de C.V. | 67 | 69 | 77 | 80 | - | - | - | - | - | - | - | - | - | - | $0 | VS | |
$PHYS Sprott Physical Gold Trust | 67 | 64 | 82 | 91 | - | - | - | - | - | - | - | - | - | - | $0 | VS | |
$GLDM World Gold Trust | 66 | 54 | 85 | 92 | 11.3x | 11.3x | - | 20.9% | 100.0% | 97.1% | 554.8% | -19.0% | 0.0% | - | $32.0B | VS | |
$CGCT Cartesian Growth Corp III | 48 | 34 | 33 | 35 | - | - | - | 3.9% | - | - | - | - | 0.0% | - | $351M | ||
| SECTOR BENCH | - | - | - | - | - | 11.9x | 7.8x | 9.0% | 1.3% | 77.7% | 18.1% | 21.9% | 10.7% | 2.0% | 0.5x | - | REF |
Cartesian Growth Corp III (CGCT) receives a "Reduce" rating with a composite score of 48.0/100. It ranks #2324 out of 7,333 stocks in our coverage universe and carries a 2-star rating. Ratings are driven by a 6-factor quantitative model measuring quality, value, momentum, investment, stability, and short interest.
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Lagging peers — losers tend to keep underperforming
Expensive relative to fundamentals — limited margin of safety
Weak fundamentals — higher risk of value trap
Low volatility — smoother ride and historically better risk-adjusted returns
Aggressive spending — empire-building risk, dilutive growth
Mid-range overall rating
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No analyst ratings for CGCT.
View All Ratings| Factor | Global | Sector | Tilt |
|---|---|---|---|
| PROFITABILITY | 34 | 64 | -30DRAG |
| MOMENTUM | 35 | 32 | +3NEUTRAL |
| VALUATION | 33 | 28 | +5NEUTRAL |
| INVESTMENT | 25 | 17 | +8ALPHA |
| STABILITY | 95 | 97 | -2NEUTRAL |
| SHORT INT | 88 | 99 | -11DRAG |
Global = full universe. Sector = relative to industry peers. Positive tilt indicates idiosyncratic strength.
Insufficient data for ROIC calculation
GM N/A vs sector 78%, OM N/A vs sector 18%
Capital turnover N/A
Rev growth N/A
Interest coverage N/A
Composite assessment of profitability, capital efficiency, and financial strength. Top-tier entities demonstrate sustainable cash flow generation and elite competitive moats.
Profit generated per dollar of shareholder equity
Efficiency of asset utilization
Pricing power and cost efficiency
Core business profitability
Bottom-line profitability
The Quality factor evaluates the persistence and magnitude of realized cash flows. Companies with scores >70 exhibit superior pricing power and structural financial resilience through diverse economic regimes.
Our uncertainty rating tracks the predictability of future cash flows and potential for permanent capital loss. Moderate visibility with standard industry cyclicality.
We rate Cartesian Growth Corp III (CGCT) as a Reduce with a composite score of 48.0/100 at a current price of $10.27. The quantitative profile shows weakness across multiple dimensions, suggesting limited upside potential.
Cartesian Growth Corp III holds a top-quartile position (#0 of 50) within the Finance, Insurance, And Real Estate sector, based on our composite quantitative scoring across quality, value, momentum, and stability factors. The composite score of 48.0/100 places it at rank #2324 in our full universe.
No Moat
Low
Poor
Fair Value
Stable competitive position in a defensive sector.
Below-average quality raises earnings sustainability concerns.
Vulnerability to macroeconomic shocks and interest rate volatility.
Cartesian Growth Corp III represents a reduce based on multi-factor quantitative performance.
Cartesian Growth Corp III receives a Reduce rating from our analysis, with a composite score of 48.0/100 and 2 out of 5 stars, ranking #2324 out of 7,333 stocks. CGCT's factor profile shows weakness across multiple dimensions, suggesting the stock may underperform going forward. Existing holders may want to consider trimming positions or tightening stop-losses.
CGCT's quality score of 34/100 is below average, suggesting challenges with profitability or capital efficiency. Investors should examine whether management is actively addressing these weaknesses or if they reflect structural industry headwinds.
With a value score of 33/100, CGCT appears somewhat expensive relative to its fundamentals. Investors paying a premium here are likely betting on above-average growth or margin expansion to justify current prices.
Cartesian Growth Corp III's investment score of 25/100 suggests limited reinvestment activity. Key growth metrics include a return on assets of 3.9% (sector: 1.3%). While this can be positive for mature, cash-generative businesses returning capital to shareholders, it may also signal a lack of growth opportunities or management conservatism.
CGCT is currently showing below-average momentum at 35/100, which may indicate weakening institutional interest or negative sentiment shifts. Revenue growth data is not currently available, while a beta of 0.03 reflects its sensitivity to broader market moves. Investors should note that declining momentum can precede further price weakness, though contrarian opportunities sometimes emerge at these levels.
Cartesian Growth Corp III earns an excellent stability score of 95/100, reflecting low price volatility and a conservatively managed balance sheet. Key stability metrics include a beta of 0.03. Stocks with this level of stability tend to act as portfolio anchors, providing downside protection during market corrections while still participating in broad market advances.
CGCT's short interest factor score of 88/100 indicates very low short selling activity relative to peers — a positive signal suggesting institutional investors see limited near-term downside. Specific risk factors include small-cap liquidity risk. As a small-cap company with a market capitalization of $351M, Cartesian Growth Corp III benefits from the generally lower volatility and deeper liquidity associated with its size class.
Cartesian Growth Corp III is a small-cap company in the Finance, Insurance, And Real Estate sector, ranked #0 of 50 in its sector (100th percentile) and #2324 of 7,333 overall (68th percentile). This top-quartile standing reflects exceptional competitive strength relative to Finance, Insurance, And Real Estate peers.
While CGCT currently exhibits a REDUCE profile, superior opportunities exist within the FINANCE, INSURANCE, AND REAL ESTATE sector. Our model identifies several "Strong Buy" candidates with higher quality scores and more attractive valuations among direct industry competitors.
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Improvement in Investment (25) would have the largest impact on the composite score.
Div. Yield 100% BELOW SECTOR MEDIAN
Above 50MA
37.18%
Net New Highs
+51081
Cartesian Growth III (NASDAQ:CGCT) has agreed to combine with battery developer Factorial at a pro forma equity value of $1.5 billion. Written by Nicholas Alan Clayton.
BOSTON, December 18, 2025--Factorial Inc. ("Factorial"), a leader in solid-state battery technology, and Cartesian Growth Corporation III ("Cartesian III"), a special purpose acquisition company, announced today that they have entered into a definitive business combination agreement ("BCA").
Factorial Energy aims to go public in 2026, raising $100M to bring solid-state batteries to market and challenge QS and SLDP.