RF Acquisition Corp II Ordinary Shares(RFAI)Earnings, Financials & Key Ratios

RFAI•NASDAQ

$11.05

46.0× P/E·Price updated Jul 7, 2026

SectorFinancial Services IndustrySPACs & Shell Companies Sub-IndustryTechnology and software focused SPACs

AboutRF Acquisition Corp II does not have significant operations. The company intends to effect a merger, share exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses. It intends to focus its search for a business combination on target businesses in the technology sector, including artificial intelligence, quantum computing, and biotechnology in Asia. The company was incorporated in 2024 and is based in Singapore.Show more

EBITDA-$962K-140.7%
Net Income$3M-18.4%
EPS (Diluted)0.24+14.3%
ROE3.37%+23.7%

RFAI Price & Volume

RF Acquisition Corp II Ordinary Shares (RFAI) stock price & volume — 10-year historical chart

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Eroding Cash Reserves Threaten Shell Entity Viability

Investment Thesis • Updated 2026Q1

VerdictNegative

Growth:Contracting

Profitability:Negative

Financial:Vulnerable

Cash Flow:Burning

Primary Risk:Binary merger execution failure

Key Thesis Takeaways

RF Acquisition Corp II remains a pre-revenue shell entity facing significant execution risk as it struggles to identify a viable deep-tech target.
The company's financial stability is increasingly compromised by a rapid depletion of assets and a persistent reliance on non-operating accounting gains to mask underlying administrative burn.
Investors should monitor the critical liquidity threshold, as the current cash position of $26,900 suggests a high probability of forced liquidation if a merger is not secured immediately.

Verdict Logic

the company's cash position has plummeted to $26,900 as of 2026Q1, leaving an insufficient liquidity buffer to sustain operations or successfully navigate a complex merger process.

RFAI Growth Metrics

RF Acquisition Corp II Ordinary Shares (RFAI) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR

Revenue CAGR

10 Years-

5 Years-

3 Years-

TTM-

Profit CAGR

10 Years-

5 Years-

3 Years-

TTM-39.63%

EPS CAGR

10 Years-

5 Years-

3 Years-

TTM-32.01%

Return on Capital

10 Years-0.73%

5 Years-0.73%

3 Years-0.73%

Last Year-1.12%

Peers Comparison

Key metrics vs top competitors for RF Acquisition Corp II Ordinary Shares (RFAI)

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Company	Price	Market Cap	P/E Ratio	Rev Growth (1Y)	Net Margin	ROE	Div Yield
RFAIRF Acquisition Corp II Ordinary SharesCurrent	$11.05	$165.89M	46.04	—	—	3.37%	—
PSFEPaysafe Limited	$8.08	$417.54M	-2.57	-0.2%	-11.44%	-28.61%	—
ACICAmerican Coastal Insurance Corporation	$11.52	$558.31M	5.36	13.07%	31.34%	33.02%	—
TPVGTriplePoint Venture Growth BDC Corp.	$4.75	$192.85M	3.89	36.55%	-19.55%	-3.39%	—
GSThe Goldman Sachs Group, Inc.	$1042.98	$321.24B	20.32	-1.38%	16.31%	14.31%	—
MSMorgan Stanley	$222.04	$350.22B	21.77	11.48%	15.13%	16.22%	—