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

Cencora, Inc. operates as a pharmaceutical company. The Company offers end-to-end pharmaceutical commercialization solutions, over-the-counter healthcare products, home healthcare supplies and equipment, and related services to healthcare providers. Cencora distributes its products internationally.

<ul>
<li>Cencora, in its fiscal 2025 fourth-quarter and full-year results call, reported strong financial performance supported by growth in its strategic initiatives and significant market trends.</li>
<li>The earnings call highlighted a 16% increase in both adjusted operating income and adjusted diluted earnings per share (EPS), driven by strategic investments in specialty areas and strong pharmaceutical utilization trends.</li>
<li>This performance underlines Cencora’s strategic role as an end-to-end healthcare services company.</li>
</ul>


Cencora, in its fiscal 2025 fourth-quarter and full-year results call, reported strong financial performance supported by growth in its strategic initiatives and significant market trends.
The earnings call highlighted a 16% increase in both adjusted operating income and adjusted diluted earnings per share (EPS), driven by strategic investments in specialty areas and strong pharmaceutical utilization trends.
This performance underlines Cencora’s strategic role as an end-to-end healthcare services company.


Cencora Is Buying Big—But Can Its Acquisition Spree Deliver Massive Long-Term Growth?

USA Compression Partners LP / Equity Bottom-Up

USA Compression Partners, LP provides compression services. The Company engineers, designs, operates, services, and repairs its compression units, as well as maintains related support inventory and equipment. USA Compression Partners serves customers in the United States.

<ul><li>USA Compression Partners is charging ahead with a bold $860 million acquisition of privately-held compression services provider J-W Power, a move poised to reshape the U.S. gas compression landscape.</li><li>Announced on December 1, 2025, this cash-and-equity deal will combine the two companies’ fleets into a 4.4 million active horsepower behemoth, positioning USA Compression as a heavyweight in mid-to-large horsepower segments across strategic basins such as the Northeast, Mid-Con, Rockies, Gulf Coast, Bakken, and the Permian.</li><li>The structure of the deal includes $430bmillion in cash and approximately 18.3 million USAC common units—leveraging both liquidity and equity flexibility.</li></ul>

USA Compression Partners is charging ahead with a bold $860 million acquisition of privately-held compression services provider J-W Power, a move poised to reshape the U.S. gas compression landscape.Announced on December 1, 2025, this cash-and-equity deal will combine the two companies’ fleets into a 4.4 million active horsepower behemoth, positioning USA Compression as a heavyweight in mid-to-large horsepower segments across strategic basins such as the Northeast, Mid-Con, Rockies, Gulf Coast, Bakken, and the Permian.The structure of the deal includes $430bmillion in cash and approximately 18.3 million USAC common units—leveraging both liquidity and equity flexibility.

USA Compression’s Bold J-W Power Buy: The Untold Upside (And Risks)!

AptarGroup, Inc. designs, manufactures, and markets pumps, dispensing closures, and aerosol valves.  The Company's products are used for fragrance/cosmetics, personal care, pharmaceutical, household/industrial, and food products. AptarGroup operates worldwide.

<ul><li>AptarGroup, Inc.'s third-quarter earnings call highlighted several key aspects of its performance and strategic direction.</li><li>The company reported adjusted earnings per share of $1.62 and a 6% increase in reported sales, with core sales growth of 1% year-over-year.</li><li>The Pharma segment exhibited strength, particularly in proprietary drug delivery systems for central nervous system applications, asthma, COPD, and ophthalmic treatments.</li></ul>

AptarGroup, Inc.'s third-quarter earnings call highlighted several key aspects of its performance and strategic direction.The company reported adjusted earnings per share of $1.62 and a 6% increase in reported sales, with core sales growth of 1% year-over-year.The Pharma segment exhibited strength, particularly in proprietary drug delivery systems for central nervous system applications, asthma, COPD, and ophthalmic treatments.

AptarGroup’s Latest Acquisition Is Turning Heads — The Sommaplast Synergy Explained!

Dayforce, Inc. provides technology solutions. The Company offers a platform for talent and workforce management, human resources, benefits, and payroll services that help to manage the entire employee lifecycle, from recruiting and onboarding, to paying people. Dayforce serves customers worldwide.

<ul><li>Dayforce, as presented in the recent quarterly earnings call, exhibited a strong financial performance for the second quarter of 2025, surpassing the high end of its guidance across key metrics.</li><li>The company reported a 14% year-over-year growth in Dayforce recurring revenue, excluding float, on a constant currency basis.</li><li>This robust performance is attributed to strategic execution across sales channels, product innovation, and operational efficiencies.</li></ul>

Dayforce, as presented in the recent quarterly earnings call, exhibited a strong financial performance for the second quarter of 2025, surpassing the high end of its guidance across key metrics.The company reported a 14% year-over-year growth in Dayforce recurring revenue, excluding float, on a constant currency basis.This robust performance is attributed to strategic execution across sales channels, product innovation, and operational efficiencies.

Dayforce: Expansion Within Large Enterprise Customers Through Deeper Module Adoption & Critical Growth Levers!

McKesson Corporation distributes pharmaceuticals, medical-surgical supplies, and health and beauty care products throughout North America. The Company also develops, implements, and supports software that facilitates the integration of data throughout the health enterprise.  In addition, McKesson offers analytic, care management, and patient solutions for payers.

<ul><li>McKesson Corporation's second quarter fiscal 2026 earnings report demonstrates both impressive financial performance and strategic alignment with growth-oriented market segments.</li><li>Consolidated revenues increased 10% year-over-year to $103 billion, and adjusted earnings per diluted share grew by 39% to $9.86, showcasing the company's ability to sustain momentum and effectively execute its strategic priorities.</li><li>In response to this robust performance, McKesson raised its annual guidance for adjusted earnings per diluted share to $38.35-$38.85.</li></ul>

McKesson Corporation's second quarter fiscal 2026 earnings report demonstrates both impressive financial performance and strategic alignment with growth-oriented market segments.Consolidated revenues increased 10% year-over-year to $103 billion, and adjusted earnings per diluted share grew by 39% to $9.86, showcasing the company's ability to sustain momentum and effectively execute its strategic priorities.In response to this robust performance, McKesson raised its annual guidance for adjusted earnings per diluted share to $38.35-$38.85.

McKesson Corporation: How Are They Benefitting From The GLP-1 Demand Tailwinds?