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>In the second quarter of 2024, 3M Company reported a robust financial performance, characterized by a 40% increase in non-GAAP earnings per share to $1.93 and modest organic revenue growth of 1%.</li><li>The adjusted free cash flow for the period was $1.2 billion, showcasing a conversion rate of 109%.</li><li>These results reflect the company's ongoing efforts to navigate significant structural changes and market challenges, leveraging operational efficiencies, and recent strategic adjustments, including the spin-off of its Health Care business and the organizational shift to a global business unit structure.</li></ul>

In the second quarter of 2024, 3M Company reported a robust financial performance, characterized by a 40% increase in non-GAAP earnings per share to $1.93 and modest organic revenue growth of 1%.The adjusted free cash flow for the period was $1.2 billion, showcasing a conversion rate of 109%.These results reflect the company's ongoing efforts to navigate significant structural changes and market challenges, leveraging operational efficiencies, and recent strategic adjustments, including the spin-off of its Health Care business and the organizational shift to a global business unit structure.

3M Company: These Are The 3 Biggest Challenges In Its Path! - Major Drivers

<ul><li>In the first quarter of 2024, 3M reported significant achievements and detailed the financial impacts of strategic decisions, including the successful spin-off of its Health Care business, now known as Solventum.</li><li>The separation into two distinct entities is designed to enhance focused growth and improve capital allocation tailored to different market dynamics, thereby representing a strategic realignment to boost shareholder value.</li><li>This quarter also saw the company addressing its legal challenges with settlements in the Public Water Suppliers and Combat Arms litigation, resulting in predictable future cash flows related to these issues.</li></ul>

In the first quarter of 2024, 3M reported significant achievements and detailed the financial impacts of strategic decisions, including the successful spin-off of its Health Care business, now known as Solventum.The separation into two distinct entities is designed to enhance focused growth and improve capital allocation tailored to different market dynamics, thereby representing a strategic realignment to boost shareholder value.This quarter also saw the company addressing its legal challenges with settlements in the Public Water Suppliers and Combat Arms litigation, resulting in predictable future cash flows related to these issues.

3M Company: Global Market Dynamics and Restructuring Initiatives! - Major Drivers

Managing Director, Zero One, Zero One

Vincent Fernando, CFA

Managing Director, Zero One

Zero One

Founded in 2015, Zero One produces independent investment research and provides corporate finance advisory services with a focus on both listed and private technology companies. Founder Vincent Fernando has over 20 years of experience in US and Asia capital markets.

Independent Investment Research

<ul>
<li>We conducted a Q&amp;A with Kinik, who is a key supplier to companies including TSMC, UMC, and Micron.</li>
<li>Kinik is dramatically expanding its diamond disk capacity; these products are critical to the production of wafers for advanced semiconductor nodes.</li>
<li>We believe Kinik has high visibility into future industry demand. Gross margins are likely to expand in the coming years as advanced diamond products become increasingly important to wafer production.</li>
</ul>


We conducted a Q&amp;A with Kinik, who is a key supplier to companies including TSMC, UMC, and Micron.
Kinik is dramatically expanding its diamond disk capacity; these products are critical to the production of wafers for advanced semiconductor nodes.
We believe Kinik has high visibility into future industry demand. Gross margins are likely to expand in the coming years as advanced diamond products become increasingly important to wafer production.


TechChain Insights: Q&A with TSMC Supplier Kinik; Diamond Capex Implies Industry Strength Visibility

<ul><li>3M has shown solid operational improvements in its fourth-quarter results, which could translate into an exciting year ahead for the company, despite the ongoing pandemic-related challenges.</li><li>The company reported strong adjusted EPS growth of 11% and operating margin expansion of 180 basis points, with significant contributions from its restructuring program aimed at streamlining operations, reducing costs and improving productivity.</li><li>Baptista Research looks to evaluate the different factors that could influence the company's price in the near future and attempts to carry out an independent valuation of the company using a Discounted Cash Flow (DCF) methodology.</li></ul>

3M has shown solid operational improvements in its fourth-quarter results, which could translate into an exciting year ahead for the company, despite the ongoing pandemic-related challenges.The company reported strong adjusted EPS growth of 11% and operating margin expansion of 180 basis points, with significant contributions from its restructuring program aimed at streamlining operations, reducing costs and improving productivity.Baptista Research looks to evaluate the different factors that could influence the company's price in the near future and attempts to carry out an independent valuation of the company using a Discounted Cash Flow (DCF) methodology.

3M Company: How Geographic Shifts and Portfolio Magic Could Boost Growth! - Major Drivers

<ul><li>3M Company delivered an all-around beat in the most recent quarterly result.</li><li>This success has positioned the company for a promising conclusion to the year 2023.</li><li>The company also addresses potential risk and uncertainty by resolving significant litigation matters, such as Combat Arms and PFAS litigation.</li></ul>

3M Company delivered an all-around beat in the most recent quarterly result.This success has positioned the company for a promising conclusion to the year 2023.The company also addresses potential risk and uncertainty by resolving significant litigation matters, such as Combat Arms and PFAS litigation.

3M Company: How They're Dominating the Market! - Major Drivers

United States

3M Co. conducts operations in electronics, telecommunications, industrial, consumer and office, health care, safety, and other markets.  The Company's businesses share technologies, manufacturing operations, brands, marketing channels, and other resources.  3M serves customers in countries located around the world.

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3M Co (MMM US)

3M Company: These Are The 3 Biggest Challenges In Its Path! - Major Drivers

In the second quarter of 2024, 3M Company reported a robust financial performance, characterized by a 40% increase in non-GAAP earnings per share...

Baptista Research

3M Company: Global Market Dynamics and Restructuring Initiatives! - Major Drivers

In the first quarter of 2024, 3M reported significant achievements and detailed the financial impacts of strategic decisions, including the...

Baptista Research

TechChain Insights: Q&A with TSMC Supplier Kinik; Diamond Capex Implies Industry Strength Visibility

Q&A with Kinik reveals expansion of diamond disk capacity crucial for semiconductor production, indicating high visibility into future industry...

Vincent Fernando, CFA

3M Company: How Geographic Shifts and Portfolio Magic Could Boost Growth! - Major Drivers

3M has shown solid operational improvements in its fourth-quarter results, which could translate into an exciting year ahead for the company,...

Baptista Research

3M Company: How They're Dominating the Market! - Major Drivers

3M Company delivered an all-around beat in the most recent quarterly result. This success has positioned the company for a promising conclusion to...

Baptista Research

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

3M Company: These Are The 3 Biggest Challenges In Its Path! - Major Drivers

In the second quarter of 2024, 3M Company reported a robust financial performance, characterized by a 40% increase in non-GAAP earnings per share...

Baptista Research

3M Company: Global Market Dynamics and Restructuring Initiatives! - Major Drivers

In the first quarter of 2024, 3M reported significant achievements and detailed the financial impacts of strategic decisions, including the...

Baptista Research

TechChain Insights: Q&A with TSMC Supplier Kinik; Diamond Capex Implies Industry Strength Visibility

​Q&A with Kinik reveals expansion of diamond disk capacity crucial for semiconductor production, indicating high visibility into future industry...

Vincent Fernando, CFA

3M Company: How Geographic Shifts and Portfolio Magic Could Boost Growth! - Major Drivers

3M has shown solid operational improvements in its fourth-quarter results, which could translate into an exciting year ahead for the company,...

Baptista Research

3M Company: How They're Dominating the Market! - Major Drivers

3M Company delivered an all-around beat in the most recent quarterly result. This success has positioned the company for a promising conclusion to...

Baptista Research

Q&A with Kinik reveals expansion of diamond disk capacity crucial for semiconductor production, indicating high visibility into future industry...