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

<ul><li>This is our first report on global insurance major, Marsh McLennan.</li><li>The company had a mixed quarterly result as it failed to meet the revenue expectations of analysts but managed an earnings beat.</li><li>The company recently announced the acquisition of MZI (McDonald Zaring Insurance), a full-service agency situated in Walla Walla, Washington.</li></ul>

This is our first report on global insurance major, Marsh McLennan.The company had a mixed quarterly result as it failed to meet the revenue expectations of analysts but managed an earnings beat.The company recently announced the acquisition of MZI (McDonald Zaring Insurance), a full-service agency situated in Walla Walla, Washington.

Marsh McLennan: Initiation of Coverage – Recent Acquisitions & Key Drivers

<ul>
<li>Marsh &amp; McLennan Companies, Inc. managed to exceed the revenue and earnings expectations of Wall Street.</li>
<li>The company achieved an unprecedented quarterly underlying revenue growth over two decades and reported substantial growth in adjusted EPS.</li>
<li>Marsh McLennan Agency acquired Graham Company, a top-100 US insurance and benefits broker and risk management consultancy, bolstering the company's Mid-Atlantic presence.</li>
</ul>


Marsh &amp; McLennan Companies, Inc. managed to exceed the revenue and earnings expectations of Wall Street.
The company achieved an unprecedented quarterly underlying revenue growth over two decades and reported substantial growth in adjusted EPS.
Marsh McLennan Agency acquired Graham Company, a top-100 US insurance and benefits broker and risk management consultancy, bolstering the company's Mid-Atlantic presence.


Marsh & McLennan Companies: String Of Recent Acquisitions Driving Growth? - Major Drivers

<ul>
<li>Marsh McLennan delivered an all-around beat in the most recent quarterly result, showcasing strong performance across its businesses and regions, continuing its impressive streak of underlying revenue growth.</li>
<li>The company reported an 11% underlying revenue growth on top of a 10% increase in the second quarter of the previous year.</li>
<li>Marsh McLennan remains optimistic about its full-year outlook, expecting high single-digit underlying revenue growth, margin expansion, and strong growth in adjusted EPS for 2023.</li>
</ul>


Marsh McLennan delivered an all-around beat in the most recent quarterly result, showcasing strong performance across its businesses and regions, continuing its impressive streak of underlying revenue growth.
The company reported an 11% underlying revenue growth on top of a 10% increase in the second quarter of the previous year.
Marsh McLennan remains optimistic about its full-year outlook, expecting high single-digit underlying revenue growth, margin expansion, and strong growth in adjusted EPS for 2023.


Marsh & McLennan Co: Can The Acquisition Of Graham Companies Be A Game Changer? Major Drivers

<ul>
<li>Marsh &amp; McLennan managed to surpass the revenue expectations as well as the earnings expectations of Wall Street.</li>
<li>The company had significant growth in most of its businesses, market sectors, and geographical areas, with Marsh, Guy Carpenter, and Mercer all experiencing faster underlying growth than in the previous quarter.</li>
<li>Guy Carpenter's revenue was $1.1 billion, driven by solid growth in all areas and worldwide specializations, reflecting tighter reinsurance market conditions.</li>
</ul>


Marsh &amp; McLennan managed to surpass the revenue expectations as well as the earnings expectations of Wall Street.
The company had significant growth in most of its businesses, market sectors, and geographical areas, with Marsh, Guy Carpenter, and Mercer all experiencing faster underlying growth than in the previous quarter.
Guy Carpenter's revenue was $1.1 billion, driven by solid growth in all areas and worldwide specializations, reflecting tighter reinsurance market conditions.


Marsh & McLennan Companies: Expanding Their Business with Acquisitions & Other Drivers

Pan-Asia Catalysts/Events, Quiddity Advisors

David Blennerhassett

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

This week in StubWorld ...
<ul class="">
<li>With the sale of <a href="https://www.smartkarma.com/entities/22017" target="_blank" data-smartkarma-citation="entities:22017:1">Jardine Lloyd Thompson Group P (JLT LN)</a> all but a done deal, how will <a href="https://www.smartkarma.com/entities/19718" target="_blank" data-smartkarma-citation="entities:19718:1">Jardine Matheson Hldgs (JM SP)</a> deploy the cash proceeds?</li>
<li>Time to unwind <a href="https://www.smartkarma.com/entities/11074" target="_blank" data-smartkarma-citation="entities:11074:1">Takara Holdings (2531 JP)</a> after a 40% gain in the past fortnight following its unexpected non-exclusion in the N225 rebalance.</li>
</ul>
This, and other relationships discussed below, trade with: 1) a minimum liquidity threshold of US$1mn on a 90-day moving average; and 2) a minimum 20% 'market capitalisation' threshold, whereby the value of the holding/Opco held must be at least 20% of the parent's market cap.
My comments on Jardine, Takara and other Holdcos follow my weekly setup/unwind tables.
<div class="content-caption">(Market cap and liquidity noted below are in US$. Liquidity is assessed on a 3-month average)</div>

This week in StubWorld ...

With the sale of Jardine Lloyd Thompson Group P (JLT LN) all but a done deal, how will Jardine Matheson Hldgs (JM SP) deploy the cash proceeds?
Time to unwind Takara Holdings (2531 JP) after a 40% gain in the past fortnight following its unexpected non-exclusion in the N225 rebalance.

This, and other relationships discussed below, trade with: 1) a minimum liquidity threshold of US$1mn on a 90-day moving average; and 2) a minimum 20% 'market capitalisation' threshold, whereby the value of the holding/Opco held must be at least 20% of the parent's market cap.
My comments on Jardine, Takara and other Holdcos follow my weekly setup/unwind tables.
(Market cap and liquidity noted below are in US$. Liquidity is assessed on a 3-month average)

StubWorld: Matheson Unloads JLT, Unwind Takara

United States

Marsh & McLennan Companies, Inc. is a professional services firm providing advice and solutions in the areas of risk, strategy, and human capital. Marsh & McLennan offers analysis, advice, and transactional capabilities to clients worldwide.

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Marsh & Mclennan (MMC US)

Marsh McLennan: Initiation of Coverage – Recent Acquisitions & Key Drivers

This is our first report on global insurance major, Marsh McLennan. The company had a mixed quarterly result as it failed to meet the revenue...

Baptista Research

Marsh & McLennan Companies: String Of Recent Acquisitions Driving Growth? - Major Drivers

Marsh & McLennan Companies, Inc. managed to exceed the revenue and earnings expectations of Wall Street. The company achieved an unprecedented...

Baptista Research

Marsh & McLennan Co: Can The Acquisition Of Graham Companies Be A Game Changer? Major Drivers

Marsh McLennan delivered an all-around beat in the most recent quarterly result, showcasing strong performance across its businesses and regions,...

Baptista Research

Marsh & McLennan Companies: Expanding Their Business with Acquisitions & Other Drivers

Marsh & McLennan managed to surpass the revenue expectations as well as the earnings expectations of Wall Street. The company had significant...

Baptista Research

StubWorld: Matheson Unloads JLT, Unwind Takara

This week in StubWorld ... With the sale of Jardine Lloyd Thompson Group P (JLT LN) all but a done deal, how will Jardine Matheson Hldgs (JM...

David Blennerhassett

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