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>AutoNation, Inc. reported a robust third-quarter performance, marked by significant financial growth and strategic progress in several areas.</li><li>Adjusted Earnings Per Share (EPS) saw an impressive 25% increase compared to the previous year, demonstrating strong financial health and earnings growth.</li><li>This rise was accompanied by a solid cash flow generation, enabling AutoNation to invest heavily in share repurchases and acquisitions, while keeping leverage at the lower end of their target range.</li></ul>

AutoNation, Inc. reported a robust third-quarter performance, marked by significant financial growth and strategic progress in several areas.Adjusted Earnings Per Share (EPS) saw an impressive 25% increase compared to the previous year, demonstrating strong financial health and earnings growth.This rise was accompanied by a solid cash flow generation, enabling AutoNation to invest heavily in share repurchases and acquisitions, while keeping leverage at the lower end of their target range.

<ul><li>AutoNation Inc. reported a robust second quarter of 2025, showing significant improvements from the same period last year.</li><li>Despite some disruption caused by tariff shifts and the prior year's CDK outage, the company managed to increase total revenue by 8% to $7 billion on both a total and same-store basis.</li><li>This growth was driven by improved performances across all business segments, including new and used vehicle sales, AfterSales, and Customer Financial Services (CFS).</li></ul>

AutoNation Inc. reported a robust second quarter of 2025, showing significant improvements from the same period last year.Despite some disruption caused by tariff shifts and the prior year's CDK outage, the company managed to increase total revenue by 8% to $7 billion on both a total and same-store basis.This growth was driven by improved performances across all business segments, including new and used vehicle sales, AfterSales, and Customer Financial Services (CFS).

AutoNation Fires Up $350 Million M&A Spree—Could a U.K. Expansion Be Next?

<ul><li>AutoNation Incorporated delivered a robust performance in the first quarter of 2025, marked by notable achievements across several business areas.</li><li>The company saw significant growth in new vehicle unit sales, with a 7% increase year-over-year, buoyed by strong performance in the Premium Luxury, Domestic, and Import segments.</li><li>This growth was partly attributed to an acceleration following a tariff announcement, showcasing AutoNation's agility in navigating external economic factors.</li></ul>

AutoNation Incorporated delivered a robust performance in the first quarter of 2025, marked by notable achievements across several business areas.The company saw significant growth in new vehicle unit sales, with a 7% increase year-over-year, buoyed by strong performance in the Premium Luxury, Domestic, and Import segments.This growth was partly attributed to an acceleration following a tariff announcement, showcasing AutoNation's agility in navigating external economic factors.

AutoNation: Competitive Pricing & Dealer Partnerships to Ensure Market Resilience & Preserve Profitability?

<ul><li>AutoNation recently concluded its 2024 fiscal year with a notably strong fourth quarter, highlighted by a 12% growth in same-store new unit volume.</li><li>This growth bodes well for the company’s After-Sales and Financial Services segments, vital as they contribute approximately 75% of AutoNation’s gross profit.</li><li>After Sales experienced a 5% growth in same-store gross profit, with an improvement in gross margin by 110 basis points, suggesting strong operational efficiency.</li></ul>

AutoNation recently concluded its 2024 fiscal year with a notably strong fourth quarter, highlighted by a 12% growth in same-store new unit volume.This growth bodes well for the company’s After-Sales and Financial Services segments, vital as they contribute approximately 75% of AutoNation’s gross profit.After Sales experienced a 5% growth in same-store gross profit, with an improvement in gross margin by 110 basis points, suggesting strong operational efficiency.

AutoNation Inc.: An Analysis Of The Used Vehicle Market Dynamics & Major Growth Drivers!

Analyst

Steve

<ul>
<li>
<a href="https://www.smartkarma.com/entities/china-meidong-auto-holdings-limited" target="_blank" data-smartkarma-citation="entities:10795:1" rel="noopener">China MeiDong Auto (1268 HK)</a> announced a profit warning this morning, expecting a 90% decline in net profit for 1H23.  </li>
<li>Luxury auto dealer in China is facing major uncertainties in its business model, with no visibility in the near term.  </li>
<li>However, <a href="https://www.smartkarma.com/entities/zhongsheng-group-holdings" target="_blank" data-smartkarma-citation="entities:10573:1" rel="noopener">Zhongsheng Group (881 HK)</a> currently employs the best long-term strategy amidst industry transformation.  Suggest to keep a close eye on the name. </li>
</ul>



China MeiDong Auto (1268 HK) announced a profit warning this morning, expecting a 90% decline in net profit for 1H23.  
Luxury auto dealer in China is facing major uncertainties in its business model, with no visibility in the near term.  
However, Zhongsheng Group (881 HK) currently employs the best long-term strategy amidst industry transformation.  Suggest to keep a close eye on the name. 


Zhongsheng Group (881 HK):  Could Be A Winner In The Long Run, But No Short-Term Visibility

United States

AutoNation, Inc. retails, finances, and services new and used vehicles.  The Company also provides other related services and products, such as the sale of parts and accessories, extended service contracts, aftermarket automotive products, and collision repair services.  AutoNation operates throughout the United States.

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Autonation Inc (AN US)

AutoNation: Growth of AutoNation Finance

AutoNation, Inc. reported a robust third-quarter performance, marked by significant financial growth and strategic progress in several...

Baptista Research

AutoNation Fires Up $350 Million M&A Spree—Could a U.K. Expansion Be Next?

AutoNation Inc. reported a robust second quarter of 2025, showing significant improvements from the same period last year. Despite some disruption...

Baptista Research

AutoNation: Competitive Pricing & Dealer Partnerships to Ensure Market Resilience & Preserve Profitability?

AutoNation Incorporated delivered a robust performance in the first quarter of 2025, marked by notable achievements across several business...

Baptista Research

AutoNation Inc.: An Analysis Of The Used Vehicle Market Dynamics & Major Growth Drivers!

AutoNation recently concluded its 2024 fiscal year with a notably strong fourth quarter, highlighted by a 12% growth in same-store new unit...

Baptista Research

Zhongsheng Group (881 HK): Could Be A Winner In The Long Run, But No Short-Term Visibility

Meidong profit warning. Luxury auto dealer's business model in China is facing major uncertainties, with no visibility in the near term.

Steve

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