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>Aramark reported strong third-quarter fiscal 2026 results, with momentum across its core businesses and the emerging Aramark Nexus platform.</li><li>Organic revenue increased 9% to $5 billion, while an estimated additional 2% of growth was offset by a calendar shift mainly affecting education.</li><li>Client retention reached a record approximately 98%, and year-to-date new client wins exceeded $1.6 billion, up 51% from the prior year.</li></ul>

Aramark reported strong third-quarter fiscal 2026 results, with momentum across its core businesses and the emerging Aramark Nexus platform.Organic revenue increased 9% to $5 billion, while an estimated additional 2% of growth was offset by a calendar shift mainly affecting education.Client retention reached a record approximately 98%, and year-to-date new client wins exceeded $1.6 billion, up 51% from the prior year.

Aramark - Aramark’s $5 Billion Quarter — Why Nexus May Matter More Than The Headline Growth!

<ul><li>Aramark reported strong financial results for its second quarter of fiscal 2026, reflecting broad-based growth across its business segments and geographies.</li><li>The company’s organic revenue increased 12% to $4.8 billion, including an estimated 3% benefit from a calendar shift, driven by new and base business growth.</li><li>Notably, the Food Services & Support (FSS) U.S. segment grew 12% organically, with Sports and Entertainment, Education, Workplace Experience, Refreshments, and Healthcare showing significant contributions.</li></ul>

Aramark reported strong financial results for its second quarter of fiscal 2026, reflecting broad-based growth across its business segments and geographies.The company’s organic revenue increased 12% to $4.8 billion, including an estimated 3% benefit from a calendar shift, driven by new and base business growth.Notably, the Food Services & Support (FSS) U.S. segment grew 12% organically, with Sports and Entertainment, Education, Workplace Experience, Refreshments, and Healthcare showing significant contributions.

Aramark - Aramark Goes All-In On AI Data Centers — Can Nexus Unlock Higher Margins?

<ul><li>Aramark's recent earnings call for the first quarter of the fiscal year 2026 revealed a blend of strong performance and strategically outlined growth prospects.</li><li>The company has demonstrated solid revenue growth, although tempered slightly by a calendar shift, affecting comparisons due to an extra week in the previous fiscal year.</li><li>The firm reported an organic revenue increase of 5%, which would have been approximately 8% without the calendar anomaly.</li></ul>

Aramark's recent earnings call for the first quarter of the fiscal year 2026 revealed a blend of strong performance and strategically outlined growth prospects.The company has demonstrated solid revenue growth, although tempered slightly by a calendar shift, affecting comparisons due to an extra week in the previous fiscal year.The firm reported an organic revenue increase of 5%, which would have been approximately 8% without the calendar anomaly.

Aramark’s Contract-Win Machine: How New Client Wins and Elite Retention Are Quietly Compounding Growth!

<ul><li>Aramark has presented a mixed bag of results for the fourth quarter and full fiscal year 2025.</li><li>On one hand, the company demonstrated robust growth indicators, and on the other, it faced certain strategic challenges that impacted its financial metrics.</li><li>To start with the positives, Aramark achieved notable success in business expansion, securing gross new wins totaling $1.6 billion, marking a significant 12% increase from fiscal 2024.</li></ul>

Aramark has presented a mixed bag of results for the fourth quarter and full fiscal year 2025.On one hand, the company demonstrated robust growth indicators, and on the other, it faced certain strategic challenges that impacted its financial metrics.To start with the positives, Aramark achieved notable success in business expansion, securing gross new wins totaling $1.6 billion, marking a significant 12% increase from fiscal 2024.

Aramark: From 4.6% to 5.7% Margins—What’s Really Driving the Next Leg of Operating Leverage?

Technical Analyst, Vermilion Research

Joe Jasper

Technical Analyst

Technical and Quantitative Research

Vermilion Research

Vermilion’s objective is to deliver timely, actionable, and unique technical research to professional investors through the application of our various technical indicators.

Our research strategists seek to highlight securities which we believe are at major inflection points, based on our various technical and quantitative indicators, and offer asymmetric risk/return profiles. Our unique research methodology, centered on relative strength, enables our strategists to deliver superior investment recommendations.

Our process begins by organizing the universe of actively traded stocks into discrete sectors, then into industry groups. We then apply our technical and quantitative tools to identify developing price trends. Once attractive trends are identified within a selected sector or group, we screen for individual stocks which we believe offer the best risk/reward profile. We provide a historical perspective that often reveals, through our long-term charts, how price patterns often repeat themselves over time.

Technical Analysis

<ul>
<li>We remain bullish (as of our 4/21/26 Compass) on the S&amp;P 500 (SPX), Nasdaq 100 (QQQ), and Russell 2000 (IWM).</li>
<li>With that said, we have expressed our concern over the past two weeks in our reports, particularly as it relates to a prolonged consolidation for QQQ/Technology (XLK).</li>
<li>We continue to believe a consolidation/continuation of the short-term downtrends is likely through mid-to-late-August amid ongoing choppy price action for semiconductors (SOXX), memory (DRAM), and optical equipment/photonics (EUV) names.</li>
</ul>


We remain bullish (as of our 4/21/26 Compass) on the S&amp;P 500 (SPX), Nasdaq 100 (QQQ), and Russell 2000 (IWM).
With that said, we have expressed our concern over the past two weeks in our reports, particularly as it relates to a prolonged consolidation for QQQ/Technology (XLK).
We continue to believe a consolidation/continuation of the short-term downtrends is likely through mid-to-late-August amid ongoing choppy price action for semiconductors (SOXX), memory (DRAM), and optical equipment/photonics (EUV) names.


Upgrading Communications (XLC) To Market Weight; A.I. Names to Remain Under Pressure?

United States

Aramark provides food and facilities management services. The Company offers uniform, refreshments, work apparel, and cleanroom services to healthcare institutions, universities, school districts, stadiums, and businesses. Aramark serves clients worldwide.

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Aramark (ARMK US)

Aramark - Aramark’s $5 Billion Quarter — Why Nexus May Matter More Than The Headline Growth!

Aramark reported strong third-quarter fiscal 2026 results, with momentum across its core businesses and the emerging Aramark Nexus...

Baptista Research

Aramark - Aramark Goes All-In On AI Data Centers — Can Nexus Unlock Higher Margins?

Aramark reported strong financial results for its second quarter of fiscal 2026, reflecting broad-based growth across its business segments and...

Baptista Research

Aramark’s Contract-Win Machine: How New Client Wins and Elite Retention Are Quietly Compounding Growth!

Aramark's recent earnings call for the first quarter of the fiscal year 2026 revealed a blend of strong performance and strategically outlined...

Baptista Research

Aramark: From 4.6% to 5.7% Margins—What’s Really Driving the Next Leg of Operating Leverage?

Aramark has presented a mixed bag of results for the fourth quarter and full fiscal year 2025. On one hand, the company demonstrated robust growth...

Baptista Research

Upgrading Communications (XLC) To Market Weight; A.I. Names to Remain Under Pressure?

Upgrading Communications (XLC) to Market Weight; A.I. Names to Remain Under Pressure (SOXX, DRAM, CHAT, EUV) likely through mid-to-late-August amid...

Vermilion Research

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