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>Acushnet Holding Corp. reported a robust financial performance in the third quarter of 2024, supported by strong sales in its Titleist Golf Clubs segment.</li><li>The company's net sales increased by 5% year-over-year to $621 million, while adjusted EBITDA rose by 9%, reaching $107 million.</li><li>Year-to-date, Acushnet's net sales surpassed $2 billion, marking a 3% increase from the previous year, with notable contributions from the Titleist Golf Balls, Clubs, and Gear segments.</li></ul>

Acushnet Holding Corp. reported a robust financial performance in the third quarter of 2024, supported by strong sales in its Titleist Golf Clubs segment.The company's net sales increased by 5% year-over-year to $621 million, while adjusted EBITDA rose by 9%, reaching $107 million.Year-to-date, Acushnet's net sales surpassed $2 billion, marking a 3% increase from the previous year, with notable contributions from the Titleist Golf Balls, Clubs, and Gear segments.

Acushnet Company: An Insight Into Its Expansion & Innovation in Titleist Golf Clubs & Other Major Drivers

<ul><li>Acushnet Holdings Corp. reported a stable financial performance for the second quarter of 2024, reflecting both sustained demand in key segments and challenges in specific markets.</li><li>The company reported a 1% year-over-year increase in net sales, bringing second-quarter sales to $684 million.</li><li>Adjusted EBITDA for the quarter was slightly down by $1.1 million, totaling $131 million.</li></ul>

Acushnet Holdings Corp. reported a stable financial performance for the second quarter of 2024, reflecting both sustained demand in key segments and challenges in specific markets.The company reported a 1% year-over-year increase in net sales, bringing second-quarter sales to $684 million.Adjusted EBITDA for the quarter was slightly down by $1.1 million, totaling $131 million.

Acushnet Holdings Corp.: The Story Of Strategic Market Positioning & Addressing Regional Challenges! - Major Drivers

Korea/Asia, Events, IPOs, Douglas Research Advisory

Douglas Kim

Korea/Asia, Events, IPOs

Douglas Research Advisory

Event-Driven

<ul>
<li>Fila Holdings announced that its subsidiary Magnus Holdings plans to sell a 1.8% stake in Acushnet Holdings in a block deal sale worth about 98 billion won. </li>
<li>Our NAV valuation of Fila Holdings suggests an implied value per share of 49,192 won, representing 18.2% upside from current levels. Fila Holdings' 51.9% stake in Acushnet Holdings.</li>
<li>The block deal sale of Acushnet Holdings by Magnus Holdings is likely to have a positive impact on Fila Holdings as it could result in higher capital returns to shareholders.</li>
</ul>


Fila Holdings announced that its subsidiary Magnus Holdings plans to sell a 1.8% stake in Acushnet Holdings in a block deal sale worth about 98 billion won. 
Our NAV valuation of Fila Holdings suggests an implied value per share of 49,192 won, representing 18.2% upside from current levels. Fila Holdings' 51.9% stake in Acushnet Holdings.
The block deal sale of Acushnet Holdings by Magnus Holdings is likely to have a positive impact on Fila Holdings as it could result in higher capital returns to shareholders.


Block Deal Sale of About 98 Billion Won Worth of Acushnet Holdings by Fila Holdings

<ul><li>Acushnet Holdings Corp. reported a positive start to 2024, highlighted by notable growth across several of its product lines.</li><li>The first quarter results demonstrate resilience and continued demand in the golf equipment and apparel markets, despite varying global conditions.</li><li>For the quarter ending March 31, 2024, Acushnet reported a 4% increase in net sales on a constant currency basis, reaching $708 million.</li></ul>

Acushnet Holdings Corp. reported a positive start to 2024, highlighted by notable growth across several of its product lines.The first quarter results demonstrate resilience and continued demand in the golf equipment and apparel markets, despite varying global conditions.For the quarter ending March 31, 2024, Acushnet reported a 4% increase in net sales on a constant currency basis, reaching $708 million.

Acushnet Holdings Corp.: Product Innovation & Launch Strategy As A Pivotal Growth Catalyst! - Major Drivers

<ul><li>This is our first report on golf distributor, Acushnet Holdings Corp.</li><li>The company's 2023 performance has been buoyed by the growth of its Titleist golf balls, increased 13%, led by strong demand for its new Pro V1 models; golf ball sales increased in all regions with the U.S. and EMEA markets leading the way.</li><li>Despite concerns about the EMEA region, golf balls and clubs were vibrant, affirming golfers' trust in the quality, consistency, and game performance of the Titleist brand.</li></ul>

This is our first report on golf distributor, Acushnet Holdings Corp.The company's 2023 performance has been buoyed by the growth of its Titleist golf balls, increased 13%, led by strong demand for its new Pro V1 models; golf ball sales increased in all regions with the U.S. and EMEA markets leading the way.Despite concerns about the EMEA region, golf balls and clubs were vibrant, affirming golfers' trust in the quality, consistency, and game performance of the Titleist brand.

Acushnet Holdings Corp.: Initiation Of Coverage - 3 Biggest Challenges In Its Path For Growth! - Major Drivers

United States

Acushnet Holdings Corp. operates as a holding company. The Company, through its subsidiaries, designs, develops, manufactures, and distributes golf products. Acushnet Holdings sells its products primarily to on-course golf pro shops, selected off-course golf specialty and sporting goods stores, and other retailers worldwide.

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Acushnet Holdings (GOLF US)

Acushnet Company: An Insight Into Its Expansion & Innovation in Titleist Golf Clubs & Other Major Drivers

Acushnet Holding Corp. reported a robust financial performance in the third quarter of 2024, supported by strong sales in its Titleist Golf Clubs...

Baptista Research

Acushnet Holdings Corp.: The Story Of Strategic Market Positioning & Addressing Regional Challenges! - Major Drivers

Acushnet Holdings Corp. reported a stable financial performance for the second quarter of 2024, reflecting both sustained demand in key segments...

Baptista Research

Block Deal Sale of About 98 Billion Won Worth of Acushnet Holdings by Fila Holdings

The block deal sale of Acushnet Holdings by Magnus Holdings is likely to have a positive impact on Fila Holdings as it could result in higher...

Douglas Kim

Acushnet Holdings Corp.: Product Innovation & Launch Strategy As A Pivotal Growth Catalyst! - Major Drivers

Acushnet Holdings Corp. reported a positive start to 2024, highlighted by notable growth across several of its product lines. The first quarter...

Baptista Research

Acushnet Holdings Corp.: Initiation Of Coverage - 3 Biggest Challenges In Its Path For Growth! - Major Drivers

This is our first report on golf distributor, Acushnet Holdings Corp. The company's 2023 performance has been buoyed by the growth of its Titleist...

Baptista Research

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