Research from Water Tower Research, Water Tower Research

Water Tower Research

Research from Water Tower Research

Water Tower Research is a leading equity research firm that provides research on micro, small and mid cap companies.

Water Tower Research was founded by Wall Street veterans after witnessing a fundamental shift in the investment research industry with the result being a declining knowledge base among investors, a lack of awareness and a shrinking pool of fundamental research being conducted on companies across the small-cap and micro-cap spectrum. The same issues are now increasingly occurring in the mid-cap space. This sea change within the investment community is impacting not only the companies themselves but also current shareholders and potential investors. With significantly less active sell-side sponsorship by Wall Street, a substantial information gap has developed between companies and various constituents in the financial community. The net result is fewer channels for insight and information to flow between companies and investors.

Equity Research Firm

Thematic (Sector/Industry)

<div><ul><li>Swift, Euroclear, Mastercard, Fidelity International, UBS, ANZ, and top protocols such as Aave, GMX, and Lido.</li><li>According to estimates from the Depository Trust and Clearing Corporation (DTCC), Boston Consulting Group (BCG), and Citi, transactions of tokenized assets could exceed $3 quadrillion annually by 2030. </li><li>While interbank settlement and payments account for the majority of this figure, $16 trillion of tokenized assets and $4 trillion of stablecoins (tokenized money) represent significant volume as well.</li><li>Institutions are tokenizing and transacting assets on blockchains at an accelerating rate, driven by the structural advantages of the onchain format, including global liquidity, instant settlement, and enhanced programmability, all operating on unified global rails. </li></ul></div>

Swift, Euroclear, Mastercard, Fidelity International, UBS, ANZ, and top protocols such as Aave, GMX, and Lido.According to estimates from the Depository Trust and Clearing Corporation (DTCC), Boston Consulting Group (BCG), and Citi, transactions of tokenized assets could exceed $3 quadrillion annually by 2030. While interbank settlement and payments account for the majority of this figure, $16 trillion of tokenized assets and $4 trillion of stablecoins (tokenized money) represent significant volume as well.Institutions are tokenizing and transacting assets on blockchains at an accelerating rate, driven by the structural advantages of the onchain format, including global liquidity, instant settlement, and enhanced programmability, all operating on unified global rails. 

Tech Talk: Tokenization Tsunami : The $3 Quadrillion Tokenization Opportunity

Independent research on the U.S. markets, Baptista Research

Baptista Research

Independent research on the U.S. markets

Baptista Research is an independent financial research house focused on the U.S. markets. We provide equity research as well as credit research reports on the top-listed U.S. companies with most of our focus on technology, consumer goods and services, automobiles, industrials, oil and gas, pharma, and healthcare. Our research has served more than 3000 institutional investors including mutual funds, hedge funds, banks, family offices, and various buy-side firms. We operate a research subscription service where institutions, as well as retail investors, can have priority access to all our research. We also have a wide distribution of our research reports across some of the top global financial platforms. Apart from equity research and credit research, we also provide advisory services with respect to mergers & acquisitions (M&A), private equity/ venture capital fundraising, valuation reports, and investment management services for corporates.
Baptista Research is owned and managed by Ishan Majumdar, an ex-Venture Capitalist/ Investment Banker, a Chartered Accountant, and a Masters’ degree holder in Management from HEC Paris. Ishan has nearly a decade of experience in Mergers and Acquisitions, Leveraged Buyouts (LBOs), Venture Capital Investing, Corporate Strategy, and Valuation in front-office roles at the likes of BNP Paribas CIB, Credit Agricole CIB, Groupe Danone, and TIW Private Equity. He has worked on and closed multiple acquisition deals, leveraged buyouts, and start-up investment transactions.

Equity Bottom-Up

ConocoPhillips explores for, produces, transports and markets crude oil, natural gas, natural gas liquids, liquefied natural gas and bitumen on a worldwide basis.

<ul><li>ConocoPhillips' third-quarter 2025 results reflect a solid performance marked by strategic shifts and ongoing projects that could influence future financial outcomes.</li><li>The company reported production of 2,399,000 barrels of oil equivalent per day, surpassing the upper limit of its guidance and generating $1.61 per share in adjusted earnings.</li><li>Operational efficiency is evidenced by decreased capital expenditures at $2.9 billion, and robust cash flow from operations amounting to $5.4 billion.</li></ul>

ConocoPhillips' third-quarter 2025 results reflect a solid performance marked by strategic shifts and ongoing projects that could influence future financial outcomes.The company reported production of 2,399,000 barrels of oil equivalent per day, surpassing the upper limit of its guidance and generating $1.61 per share in adjusted earnings.Operational efficiency is evidenced by decreased capital expenditures at $2.9 billion, and robust cash flow from operations amounting to $5.4 billion.

ConocoPhillips: Inside Surmont & Montney- What Hidden Capacity Expansions Reveal About Its Strategy!

Apple Inc. designs, manufactures, and markets smartphones, personal computers, tablets, wearables and accessories, and sells a variety of related accessories. The Company also offers payment, digital content, cloud and advertising services. Apple Inc.'s customers are primarily in consumer, small & mid-sized business, education, enterprise and government markets worldwide.

<ul><li>Apple Inc.'s recent earnings call for Q4 Fiscal Year 2025 presents a mixed yet enlightening perspective on the company's performance and outlook.</li><li>Apple reported revenue of $102.5 billion, marking an 8% increase year-over-year, a record for the September quarter.</li><li>This growth was significantly driven by the Services segment, which achieved an all-time revenue record of $28.8 billion, up 15% from the previous year.</li></ul>

Apple Inc.'s recent earnings call for Q4 Fiscal Year 2025 presents a mixed yet enlightening perspective on the company's performance and outlook.Apple reported revenue of $102.5 billion, marking an 8% increase year-over-year, a record for the September quarter.This growth was significantly driven by the Services segment, which achieved an all-time revenue record of $28.8 billion, up 15% from the previous year.

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Air Products & Chemicals, Inc / Equity Bottom-Up

Air Products and Chemicals, Inc. produces industrial atmospheric and specialty gases, and performance materials and equipment. The Company's products include oxygen, nitrogen, argon, helium, specialty surfactants and amines, polyurethane, epoxy curatives and resins. Air Products and Chemicals, Inc. products are used in the beverage, health and semiconductors fields.

<ul><li>Air Products and Chemicals, Inc. reported its fiscal year 2025 fourth-quarter results, reflecting a nuanced performance with both advancements and challenges.</li><li>For the year, earnings per share reached $12.03, slightly above the midpoint of their full-year guidance.</li><li>This suggests the company met its commitments despite facing a challenging economic environment.</li></ul>

Air Products and Chemicals, Inc. reported its fiscal year 2025 fourth-quarter results, reflecting a nuanced performance with both advancements and challenges.For the year, earnings per share reached $12.03, slightly above the midpoint of their full-year guidance.This suggests the company met its commitments despite facing a challenging economic environment.

Air Products and Chemicals: Large-Scale Hydrogen Megaprojects and Clean Energy Investments Reshaping Long-Term Growth!

Datadog, Inc. provides software solutions. The Company offers cloud-based monitoring and analytics platform which integrates and automates infrastructure monitoring, application performance monitoring, and log management for real-time observability of customers. Datadog operates worldwide.

<ul><li>Datadog reported a strong financial performance in Q3 2025, marked by significant revenue growth and a substantial increase in customer adoption.</li><li>The company's revenue reached $886 million, reflecting a 28% increase year-over-year, driven by robust customer acquisition and expansion among existing clients.</li><li>Notably, new logo annualized bookings more than doubled year-over-year, indicating growing interest and adoption of Datadog's platform.</li></ul>

Datadog reported a strong financial performance in Q3 2025, marked by significant revenue growth and a substantial increase in customer adoption.The company's revenue reached $886 million, reflecting a 28% increase year-over-year, driven by robust customer acquisition and expansion among existing clients.Notably, new logo annualized bookings more than doubled year-over-year, indicating growing interest and adoption of Datadog's platform.

Datadog Inside the Security Surge: Can Unified Observability + Security Redefine the Entire Market?