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>Altria Group's recent earnings call highlighted several elements of its business strategy and financial performance, presenting both positive and negative aspects that investors may consider.</li><li>Altria reported strong financial outcomes for the third quarter and the first nine months of the year, with adjusted diluted earnings per share (EPS) increasing by 3.6% in the third quarter and 5.9% for the first nine months of the year.</li><li>However, the company faces challenges such as declining cigarette volumes and intensified competition in the nicotine pouch market.</li></ul>

Altria Group's recent earnings call highlighted several elements of its business strategy and financial performance, presenting both positive and negative aspects that investors may consider.Altria reported strong financial outcomes for the third quarter and the first nine months of the year, with adjusted diluted earnings per share (EPS) increasing by 3.6% in the third quarter and 5.9% for the first nine months of the year.However, the company faces challenges such as declining cigarette volumes and intensified competition in the nicotine pouch market.

Altria Group’s Bold New on! PLUS Launch Could Redefine the Future of Nicotine Innovation; But Is It Enough To Warrant A 'Buy' Rating?

<ul><li>Altria Group's recent earnings reveals a mixed set of results that convey both the strengths and challenges faced by the company.</li><li>In the second quarter of 2025, Altria continued to benefit from its strong core businesses, particularly within the oral tobacco product segment.</li><li>On! nicotine pouches were a significant driver of this segment's growth, reporting a 26.5% increase in volume and a retail share rise to 8.7%, reflecting a 0.7 percentage point gain year-over-year.</li></ul>

Altria Group's recent earnings reveals a mixed set of results that convey both the strengths and challenges faced by the company.In the second quarter of 2025, Altria continued to benefit from its strong core businesses, particularly within the oral tobacco product segment.On! nicotine pouches were a significant driver of this segment's growth, reporting a 26.5% increase in volume and a retail share rise to 8.7%, reflecting a 0.7 percentage point gain year-over-year.

Altria Group: A Tale Of Growing Oral Tobacco Profits—Is on! the Secret Weapon for Future Growth?- Major Drivers

<ul><li>Altria Group reported its first-quarter performance for 2025 amidst varying market dynamics.</li><li>The company, known primarily for its tobacco products, emphasized robust operations in its Smokeable Products and Oral Tobacco Products segments.</li><li>Altria CEO Billy Gifford highlighted that the core traditional tobacco business remained profitable in a challenging environment, and the company's flagship brand, Marlboro, continued to show resilience despite economic pressures.</li></ul>

Altria Group reported its first-quarter performance for 2025 amidst varying market dynamics.The company, known primarily for its tobacco products, emphasized robust operations in its Smokeable Products and Oral Tobacco Products segments.Altria CEO Billy Gifford highlighted that the core traditional tobacco business remained profitable in a challenging environment, and the company's flagship brand, Marlboro, continued to show resilience despite economic pressures.

Altria Group: An Insight Into Recent Macroeconomic Pressures & Its Consumer Pricing Strategy!

<ul><li>Altria Group reported its fourth quarter and full-year 2024 earnings with several noteworthy developments.</li><li>Financially, the company delivered strong results, primarily supported by its core tobacco operations.</li><li>Altria grew its adjusted diluted earnings per share (EPS) by 3.4% for the full year, maintaining a trend of returning substantial capital to shareholders through $10.2 billion in dividends and share repurchases.</li></ul>

Altria Group reported its fourth quarter and full-year 2024 earnings with several noteworthy developments.Financially, the company delivered strong results, primarily supported by its core tobacco operations.Altria grew its adjusted diluted earnings per share (EPS) by 3.4% for the full year, maintaining a trend of returning substantial capital to shareholders through $10.2 billion in dividends and share repurchases.

Altria's Secret Weapon: How This Tobacco Giant Keeps Winning Despite Shrinking Cigarette Sales!

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Finimize Research

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Finimize

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Thematic (Sector/Industry)

<ul>
<li>The US economy’s resilience hasn’t come from the many – it’s come from the top 10% as the “wealth effect” from rising asset prices has boosted spending.</li>
<li>But it works in reverse too.  Since the richest make up nearly half of America’s consumer spending, that could lead to a serious economic fallout.</li>
<li>It’s worth considering protecting your portfolio. I’ve pulled together one list of companies that should do well and another that could suffer from the change in climate.</li>
</ul>


The US economy’s resilience hasn’t come from the many – it’s come from the top 10% as the “wealth effect” from rising asset prices has boosted spending.
But it works in reverse too.  Since the richest make up nearly half of America’s consumer spending, that could lead to a serious economic fallout.
It’s worth considering protecting your portfolio. I’ve pulled together one list of companies that should do well and another that could suffer from the change in climate.


A Defensive Portfolio Prepared For The Wealth Effect’s Reversal

United States

Altria Group, Inc. is a holding company.  The Company, through subsidiaries, manufactures and sells cigarettes and other tobacco products, including cigars and pipe tobacco.  Altria holds an interest in a brewery company.

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Altria Group (MO US)

Altria Group’s Bold New on! PLUS Launch Could Redefine the Future of Nicotine Innovation; But Is It Enough To Warrant A 'Buy' Rating?

Altria Group's recent earnings call highlighted several elements of its business strategy and financial performance, presenting both positive and...

Baptista Research

Altria Group: A Tale Of Growing Oral Tobacco Profits—Is on! the Secret Weapon for Future Growth?- Major Drivers

Altria Group's recent earnings reveals a mixed set of results that convey both the strengths and challenges faced by the company. In the second...

Baptista Research

Altria Group: An Insight Into Recent Macroeconomic Pressures & Its Consumer Pricing Strategy!

Altria Group reported its first-quarter performance for 2025 amidst varying market dynamics. The company, known primarily for its tobacco...

Baptista Research

Altria's Secret Weapon: How This Tobacco Giant Keeps Winning Despite Shrinking Cigarette Sales!

Altria Group reported its fourth quarter and full-year 2024 earnings with several noteworthy developments. Financially, the company delivered...

Baptista Research

A Defensive Portfolio Prepared For The Wealth Effect’s Reversal

The top 10% account for around 50% of consumer spending in the US. This insight looks at the sectors and companies that could win and lose from the...

Finimize Research

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