BACQU vs TBN

Comparison between Merlin Inc - Units (1Ord Class A & 1 Rights) (BACQU, Company) and Tamboran Resources Corp (TBN, Company).

BACQU is from the Financial Services sector, while TBN is from the Energy sector.

BACQU vs TBN - Performance Comparison

Log

Key Characteristics

Financial metrics and valuation ratios

Metric	BACQU(COMPANY)	TBN(COMPANY)
Market Cap	$781M	$774M
Max Drawdown	26.63%	38.61%
Sharpe Ratio	0.20	1.05
5Y Beta	0.05	0.37
Industry	Shell Companies	Oil & Gas E&p
P/E Ratio	N/A	-19.02
Forward P/E	N/A	10000.00
Debt to Equity	0.00%	11.27%
Free Cash Flow Yield	-3.45%	-4.32%
P/B Ratio	N/A	2.46

Market Cap

Winner

BACQU

$781M

TBN

$774M

Max Drawdown

Winner

BACQU

26.63%

TBN

38.61%

Sharpe Ratio

BACQU

0.20

Winner

TBN

1.05

5Y Beta

Winner

BACQU

0.05

TBN

0.37

Industry

BACQU

Shell Companies

TBN

Oil & Gas E&p

P/E Ratio

BACQU

N/A

TBN

-19.02

Forward P/E

BACQU

N/A

TBN

10000.00

Debt to Equity

Winner

BACQU

0.00%

TBN

11.27%

Free Cash Flow Yield

Winner

BACQU

-3.45%

TBN

-4.32%

P/B Ratio

BACQU

N/A

TBN

2.46

BACQU vs TBN - Historical Returns

Returns include dividend reinvestment.

Period	BACQU	TBN
1 month	+0.00%	-3.48%
3 months	+0.00%	+11.11%
6 months	-4.18%	+34.90%
1 year	+4.86%	+53.78%
Max(CAGR)	+6.24%	+26.56%

Winner

BACQU

+0.00%

TBN

-3.48%

BACQU

+0.00%

Winner

TBN

+11.11%

BACQU

-4.18%

Winner

TBN

+34.90%

BACQU

+4.86%

Winner

TBN

+53.78%

Max(CAGR)

BACQU

+6.24%

Winner

TBN

+26.56%

BACQU vs TBN - Annual Returns (2024 - 2026)

Returns include dividend reinvestment.

Year	BACQU	TBN
2026	-6.78%	+23.39%
2025	+17.65%	+32.89%
2024	+0.67%	-3.49%

BACQU vs TBN Drawdown Comparison

The maximum drawdown for BACQU was -26.63%, occurring on Feb 13, 2026. This drawdown has not yet recovered.

The maximum drawdown for TBN was -38.61%, occurring on Jul 8, 2025. Recovery took 158 trading sessions.

The current BACQU drawdown is -21.26%. The current TBN drawdown is -31.19%.

Rank	BACQU	TBN
#1	-26.63% Oct 24, 2025 - Feb 13, 2026	-38.61% Feb 19, 2025 - Oct 6, 2025
#2	-2.67% Apr 25, 2025 - May 29, 2025	-35.28% Jul 15, 2024 - Jan 24, 2025
#3	-1.40% Jun 10, 2025 - Jul 2, 2025	-34.75% Mar 31, 2026 - Jun 2, 2026
#4	-1.21% Jul 2, 2025 - Aug 14, 2025	-25.76% Oct 6, 2025 - Feb 23, 2026
#5	-0.85% May 29, 2025 - Jun 10, 2025	-10.93% Mar 2, 2026 - Mar 26, 2026
#6	-0.59% Feb 24, 2025 - Apr 1, 2025	-7.53% Jan 24, 2025 - Feb 10, 2025
#7	-0.49% Feb 12, 2025 - Feb 24, 2025	-6.45% Feb 10, 2025 - Feb 19, 2025
#8	-0.34% Apr 1, 2025 - Apr 24, 2025	-3.84% Jul 1, 2024 - Jul 15, 2024
#9	-0.30% Jan 10, 2025 - Jan 17, 2025	-0.96% Feb 24, 2026 - Feb 27, 2026
#10	-0.30% Feb 3, 2025 - Feb 12, 2025	N/A
#11	-0.21% Dec 23, 2024 - Jan 10, 2025	N/A
#12	-0.20% Nov 20, 2024 - Dec 2, 2024	N/A
#13	-0.15% Dec 2, 2024 - Dec 23, 2024	N/A
#14	-0.14% Jan 17, 2025 - Jan 28, 2025	N/A
#15	-0.12% Nov 7, 2024 - Nov 15, 2024	N/A