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>Aon plc reported a strong start to 2025, with results aligning well with their financial objectives amidst unpredictable business conditions.</li><li>The company witnessed a 16% total revenue growth, bolstered by a 5% organic revenue increase and the impact of the National Financial Partners (NFP) acquisition.</li><li>Aon's financial discipline enabled a 38.4% operating margin, contributing to a 12% rise in adjusted operating income and a $5.67 adjusted EPS.</li></ul>

Aon plc reported a strong start to 2025, with results aligning well with their financial objectives amidst unpredictable business conditions.The company witnessed a 16% total revenue growth, bolstered by a 5% organic revenue increase and the impact of the National Financial Partners (NFP) acquisition.Aon's financial discipline enabled a 38.4% operating margin, contributing to a 12% rise in adjusted operating income and a $5.67 adjusted EPS.

AON Inc.: Macro Trend Adaptation & Diversification to Up Their Game!

<ul><li>Aon plc's performance in the fourth quarter of 2024 reflects a period of strategic execution and financial growth.</li><li>The company reported a 6% organic revenue growth for the full year and a notable 17% total revenue increase, driven significantly by its successful 3x3 Plan.</li><li>Operating income saw a robust 17% rise, contributing to a 10% increase in adjusted earnings per share.</li></ul>

Aon plc's performance in the fourth quarter of 2024 reflects a period of strategic execution and financial growth.The company reported a 6% organic revenue growth for the full year and a notable 17% total revenue increase, driven significantly by its successful 3x3 Plan.Operating income saw a robust 17% rise, contributing to a 10% increase in adjusted earnings per share.

Aon: What’s Next After the Willis Towers Watson Merger Fallout?

<ul><li>Aon plc showcased a robust fiscal performance in their third quarter of 2024, maintaining a strong trajectory towards achieving their annual objectives.</li><li>Under the stewardship of CEO Gregory Case, alongside newly appointed CFO Edmund Reese and President Eric Andersen, the company has stayed committed to its comprehensive 3x3 Plan, centered on optimizing their offerings in Risk Capital, Human Capital, and leveraging the Aon Business Services platform.</li><li>The effectiveness of this strategic approach is evident in the reported 7% total organic revenue growth and the significant 26% overall revenue increase, which includes contributions from the integration of NFP.</li></ul>

Aon plc showcased a robust fiscal performance in their third quarter of 2024, maintaining a strong trajectory towards achieving their annual objectives.Under the stewardship of CEO Gregory Case, alongside newly appointed CFO Edmund Reese and President Eric Andersen, the company has stayed committed to its comprehensive 3x3 Plan, centered on optimizing their offerings in Risk Capital, Human Capital, and leveraging the Aon Business Services platform.The effectiveness of this strategic approach is evident in the reported 7% total organic revenue growth and the significant 26% overall revenue increase, which includes contributions from the integration of NFP.

Aon Plc: Leveraging Regulatory Changes & Healthcare Inflation To Change The Game! - Major Drivers

<ul><li>Aon plc has delivered a robust performance for the second quarter of 2024, marked by a clear focus on delivering on its three-dimensional, three-year strategic plan known as the "3x3 plan." This approach underscores Aon's commitment to strengthening offerings across risk capital and human capital solutions, all promoted through its Aon client leadership model.</li><li>The acquisition of NFP, welcoming 7,700 new colleagues, has played a pivotal role, adding substantial scale and extending Aon's capabilities in critical business areas.</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>

Aon plc has delivered a robust performance for the second quarter of 2024, marked by a clear focus on delivering on its three-dimensional, three-year strategic plan known as the "3x3 plan." This approach underscores Aon's commitment to strengthening offerings across risk capital and human capital solutions, all promoted through its Aon client leadership model.The acquisition of NFP, welcoming 7,700 new colleagues, has played a pivotal role, adding substantial scale and extending Aon's capabilities in critical business areas.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.

Aon plc: Expanding Market Presence through Acquisitions! - Major Drivers

IPOs and Catalysts/Events, Global Equity Research Ltd

Arun George

IPOs and Catalysts/Events

Uncompromised, Independent, Conflict-Free Research

Global Equity Research Ltd

Global Equity Research was started in 2017 by a group of experienced research professionals. It was founded on a passionate belief in the importance and the need for uncompromised, independent, conflict-free research. We aim to provide differentiated and actionable primary and bottom up fundamental research.

Event-Driven

<ul>
<li>On 22 August, the <a href="https://www.smartkarma.com/entities/psc-insurance-group-ltd" target="_blank" data-smartkarma-citation="entities:24266:1" rel="noopener">Psc Insurance (PSI AU)</a> IE considered Ardonagh’s A$6.19 offer fair and reasonable as it is within the A$5.69 to A$6.65 valuation range. </li>
<li>The offer is conditional on shareholder approval of the scheme. No disinterested shareholder holds the 25% blocking stake. The scheme meeting is on 26 September.</li>
<li>The offer is attractive and represents an all-time high. At the last close and for the 11 October payment, the gross/annualised spread is 1.3%/12.1%.</li>
</ul>


On 22 August, the Psc Insurance (PSI AU) IE considered Ardonagh’s A$6.19 offer fair and reasonable as it is within the A$5.69 to A$6.65 valuation range. 
The offer is conditional on shareholder approval of the scheme. No disinterested shareholder holds the 25% blocking stake. The scheme meeting is on 26 September.
The offer is attractive and represents an all-time high. At the last close and for the 11 October payment, the gross/annualised spread is 1.3%/12.1%.


United States

Aon PLC is a professional services provider. The Company is comprised of risk and insurance brokerage consulting. Aon's services include helping manage risk for clients, negotiating and placing insurance risk with other carriers, and advising clients related to health and benefits, retirement, compensation, strategic human capital, and human resource outsourcing.

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Aon (AON US)

AON Inc.: Macro Trend Adaptation & Diversification to Up Their Game!

Aon plc reported a strong start to 2025, with results aligning well with their financial objectives amidst unpredictable business conditions. The...

Baptista Research

Aon: What’s Next After the Willis Towers Watson Merger Fallout?

Aon plc's performance in the fourth quarter of 2024 reflects a period of strategic execution and financial growth. The company reported a 6%...

Baptista Research

Aon Plc: Leveraging Regulatory Changes & Healthcare Inflation To Change The Game! - Major Drivers

Aon plc showcased a robust fiscal performance in their third quarter of 2024, maintaining a strong trajectory towards achieving their annual...

Baptista Research

Aon plc: Expanding Market Presence through Acquisitions! - Major Drivers

Aon plc has delivered a robust performance for the second quarter of 2024, marked by a clear focus on delivering on its three-dimensional,...

Baptista Research

PSC Insurance (PSI AU): A Done Deal

The offer is attractive and represents an all-time high. At the last close and for the 11 October payment, the gross/annualised spread is 1.3%/12.1%.

Arun George

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