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>AT&T's performance in the first quarter of 2025 showcases its continued momentum following a strong 2024.</li><li>The company reported growth in consolidated service revenue and adjusted EBITDA, underpinned by robust gains in postpaid phone and fiber net additions.</li><li>Despite an early slowdown in the quarter, AT&T fine-tuned its promotional strategies to remain competitive in a maturing market, particularly in its fiber footprint, which is seeing substantial growth.</li></ul>

AT&T's performance in the first quarter of 2025 showcases its continued momentum following a strong 2024.The company reported growth in consolidated service revenue and adjusted EBITDA, underpinned by robust gains in postpaid phone and fiber net additions.Despite an early slowdown in the quarter, AT&T fine-tuned its promotional strategies to remain competitive in a maturing market, particularly in its fiber footprint, which is seeing substantial growth.

AT&T: 5G Network Expansion & Modernization to Strengthen Its Footprint & Revenue Streams!

<ul><li>AT&T's latest financial performance in the fourth quarter of 2024 shows a balanced overview of strengths and challenges that shape its investment profile.</li><li>Positively, the company has demonstrated solid growth in its core operations, particularly in the Mobility and Consumer Wireline segments.</li><li>Postpaid phone net additions totaled approximately 1.7 million with a service revenue growth of 3.5% for Mobility, contributing to AT&T likely leading the industry in postpaid phone churn for most of the past sixteen quarters.</li></ul>

AT&T's latest financial performance in the fourth quarter of 2024 shows a balanced overview of strengths and challenges that shape its investment profile.Positively, the company has demonstrated solid growth in its core operations, particularly in the Mobility and Consumer Wireline segments.Postpaid phone net additions totaled approximately 1.7 million with a service revenue growth of 3.5% for Mobility, contributing to AT&T likely leading the industry in postpaid phone churn for most of the past sixteen quarters.

AT&T: Will Its Fiber Infrastructure Expansion Be A Game-Changer Or A Costly Mistake? - Major Drivers

Managing Partner, VRS (Valuation & Research Specialists)

VRS (Valuation & Research Specialists)

Managing Partner

Valuation & Research Specialists (VRS) is a boutique financial advisor with more than 17 years of experience in Corporate Valuation and Finance, and a diversified client base including some of the largest Companies in Greece.

Since 2002, VRS has completed more than 200 engagements in the areas of business valuation and financial analysis for more than 100 clients in a wide range of industries.

VRS has been honored to work with small and large private and publicly traded companies in Europe and overseas.

Boutique Financial Advisor

<ul><li>Our estimations for FY 2024 annual revenue range at around $124,142 million and for FY 2025 at around $126,625 million.</li><li>The company’s annual revenue reached $122,428 million in FY 2023 compared to $120,741 million in FY 2022, posting an increase by 1.40%.</li><li>AT&amp;T gross profit for FY 2023 was $72,305 million, increased by 3.45% compared to $69,893 million for the corresponding period of 2022.</li></ul>

Our estimations for FY 2024 annual revenue range at around $124,142 million and for FY 2025 at around $126,625 million.The company’s annual revenue reached $122,428 million in FY 2023 compared to $120,741 million in FY 2022, posting an increase by 1.40%.AT&amp;T gross profit for FY 2023 was $72,305 million, increased by 3.45% compared to $69,893 million for the corresponding period of 2022.

Equity Research Flash Note: AT&T LNC. - December 18, 2024

Korea/Asia, Events, IPOs, Douglas Research Advisory

Douglas Kim

Korea/Asia, Events, IPOs

Douglas Research Advisory

<ul>
<li>We have a Positive view of KT Corp (030200 KS) due to three main reasons.</li>
<li>First, KT has started to implement aggressive capital return policy (returning 50% of net income through dividends and share buybacks/cancellations). Two other reasons include Corporate Value Up and higher Smartscore.</li>
<li>KT Corp has been the best performing stock among the three major Korean telcos in the past one year. KT Corp's shares are up 27.9% in the past one year.</li>
</ul>


We have a Positive view of KT Corp (030200 KS) due to three main reasons.
First, KT has started to implement aggressive capital return policy (returning 50% of net income through dividends and share buybacks/cancellations). Two other reasons include Corporate Value Up and higher Smartscore.
KT Corp has been the best performing stock among the three major Korean telcos in the past one year. KT Corp's shares are up 27.9% in the past one year.


Equity Long-Short, Semiconductors, Fabricated Knowledge

Douglas O'Laughlin

Equity Long-Short, Semiconductors

Fabricated Knowledge

Learn more about the world's most important manufactured product. Meaningful insight, timely analysis, and an occasional investment idea.

Thematic (Sector/Industry)

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<li>The Internet and Telecom bubble. Lessons in leverage, rates, and a smattering of fraud. What can we learn from that period to compare it to the current AI infrastructure build?</li>
<li>It’s time for a history piece. I didn’t touch the internet and telecom bubbles in my last history piece, but I wanted to save an entire piece for it.</li>
<li>I think it’s the best analogy for the historic boom in AI and infrastructure. Let’s see if there are lessons to learn from the past.</li>
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The Internet and Telecom bubble. Lessons in leverage, rates, and a smattering of fraud. What can we learn from that period to compare it to the current AI infrastructure build?
It’s time for a history piece. I didn’t touch the internet and telecom bubbles in my last history piece, but I wanted to save an entire piece for it.
I think it’s the best analogy for the historic boom in AI and infrastructure. Let’s see if there are lessons to learn from the past.


Lessons from History: The Rise and Fall of the Telecom Bubble

United States

AT&T Inc. is a communications holding company. The Company, through its subsidiaries and affiliates, provides local and long-distance phone service, wireless and data communications, Internet access and messaging, IP-based and satellite television, security services, telecommunications equipment, and directory advertising and publishing.

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AT&T (T US)

AT&T: 5G Network Expansion & Modernization to Strengthen Its Footprint & Revenue Streams!

AT&T's performance in the first quarter of 2025 showcases its continued momentum following a strong 2024. The company reported growth in...

Baptista Research

AT&T: Will Its Fiber Infrastructure Expansion Be A Game-Changer Or A Costly Mistake? - Major Drivers

AT&T's latest financial performance in the fourth quarter of 2024 shows a balanced overview of strengths and challenges that shape its...

Baptista Research

Equity Research Flash Note: AT&T LNC. - December 18, 2024

The company’s annual revenue reached $122,428 million in FY 2023 compared to $120,741 million in FY 2022, posting an increase by 1.40%.

VRS (Valuation & Research Specialists)

Asian Dividend Gems: KT Corp

Positive outlook on KT Corp (030200 KS) due to aggressive capital return policy, Corporate Value Up, and higher Smartscore leading to strong stock...

Douglas Kim

Lessons from History: The Rise and Fall of the Telecom Bubble

The Internet and Telecom bubble. Lessons in leverage, rates, and a smattering of fraud. What can we learn from that period to compare it to the...

Fabricated Knowledge

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52-week Range

Market Cap (USDm)

P/E

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AT&T: 5G Network Expansion & Modernization to Strengthen Its Footprint & Revenue Streams!

AT&T's performance in the first quarter of 2025 showcases its continued momentum following a strong 2024. The company reported growth in...

Baptista Research

AT&T: Will Its Fiber Infrastructure Expansion Be A Game-Changer Or A Costly Mistake? - Major Drivers

AT&T's latest financial performance in the fourth quarter of 2024 shows a balanced overview of strengths and challenges that shape its...

Baptista Research

Equity Research Flash Note: AT&T LNC. - December 18, 2024

The company’s annual revenue reached $122,428 million in FY 2023 compared to $120,741 million in FY 2022, posting an increase by 1.40%.

VRS (Valuation & Research Specialists)

Asian Dividend Gems: KT Corp

​Positive outlook on KT Corp (030200 KS) due to aggressive capital return policy, Corporate Value Up, and higher Smartscore leading to strong stock...

Douglas Kim

Lessons from History: The Rise and Fall of the Telecom Bubble

The Internet and Telecom bubble. Lessons in leverage, rates, and a smattering of fraud. What can we learn from that period to compare it to the...

Fabricated Knowledge

Positive outlook on KT Corp (030200 KS) due to aggressive capital return policy, Corporate Value Up, and higher Smartscore leading to strong stock...