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

Equity Bottom-Up

<ul><li>Our estimations for FY 2025 annual revenue point towards $68,785 million and for 2026 at around $71,502 million.</li><li>The company’s annual revenue reached $66,517 million in 2024 compared to $77,794 million in 2023, posting a decrease by 14.50%.</li><li>BOEING’s gross loss for FY 2024 was $1,991 million, decreased by 126% com- pared to profit of $7,724 million for the corresponding period of 2023.</li></ul>

Our estimations for FY 2025 annual revenue point towards $68,785 million and for 2026 at around $71,502 million.The company’s annual revenue reached $66,517 million in 2024 compared to $77,794 million in 2023, posting a decrease by 14.50%.BOEING’s gross loss for FY 2024 was $1,991 million, decreased by 126% com- pared to profit of $7,724 million for the corresponding period of 2023.

THE BOEING COMPANY - Equity Research Flash Note

Head of Research, Krungthai XSpring

Waraporn Wiboonkanarak

Head of Research

A full service Thai brokerage

Krungthai XSpring

Krungthai XSpring is a full service broker. The company provides a wide range of investment services such as Securities Brokerage, Derivative Agent Business, Securities Borrowing and Lending, Securities Trading, Underwriting, Financial Advisory, Wealth Advisory, Private Fund Management and International Markets Securities Trading. 

In terms of credibility, Fitch Ratings has assigned Krunghtai XSpring a long-term rating of AA- and a national short-term rating of F1+ with stable outlook.

Thematic (Sector/Industry)

<ul><li>The SET Index is expected to move sideways up today, with the resistance at 1,290/1,300 points and the support at 1,274/1,264 points.</li><li>The Cabinet approved financial assistance measures to support, compensate, and rehabilitate flood-affected communities in the South through state-owned financial institutions (SFIs), including GSB, BAAC, and SME Bank.</li><li>The decline is still mainly driven by government cost-of-living measures, such as the Ft reduction during September–December, and lower crude oil prices.</li></ul>

The SET Index is expected to move sideways up today, with the resistance at 1,290/1,300 points and the support at 1,274/1,264 points.The Cabinet approved financial assistance measures to support, compensate, and rehabilitate flood-affected communities in the South through state-owned financial institutions (SFIs), including GSB, BAAC, and SME Bank.The decline is still mainly driven by government cost-of-living measures, such as the Ft reduction during September–December, and lower crude oil prices.

Krungthai XSpring Zoom Eng. December 3, 2025

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.

<ul><li>The Boeing Company's first-quarter 2025 earnings report reveals a mixed but generally favorable performance across the board.</li><li>The company continues to focus on its recovery plan, which targets stabilizing the business, improving development program execution, cultural transformation, and building for the future.</li><li>Positives in the report are balanced with ongoing challenges, particularly in the areas of tariffs and production stability, which are crucial to consider in an investment thesis.</li></ul>

The Boeing Company's first-quarter 2025 earnings report reveals a mixed but generally favorable performance across the board.The company continues to focus on its recovery plan, which targets stabilizing the business, improving development program execution, cultural transformation, and building for the future.Positives in the report are balanced with ongoing challenges, particularly in the areas of tariffs and production stability, which are crucial to consider in an investment thesis.

Boeing Ramps Up 737 and 787 Production: A Bold Play to Dominate Global Skies!

<ul><li>After years of turbulence marked by the 737 MAX crises, persistent quality control issues, and billions in losses across both its commercial and defense segments, Boeing is showing signs of a long-awaited stabilization.</li><li>In recent weeks, a series of major developments have helped reignite optimism around the aerospace giant.</li><li>The company scored a significant defense contract victory over Lockheed Martin, landing the U.S. Air Force's F-47 fighter jet deal—an upset that added billions in market value and sent Boeing shares surging.</li></ul>

After years of turbulence marked by the 737 MAX crises, persistent quality control issues, and billions in losses across both its commercial and defense segments, Boeing is showing signs of a long-awaited stabilization.In recent weeks, a series of major developments have helped reignite optimism around the aerospace giant.The company scored a significant defense contract victory over Lockheed Martin, landing the U.S. Air Force's F-47 fighter jet deal—an upset that added billions in market value and sent Boeing shares surging.

Boeing Beats Lockheed To the F-47 & Locks In Korean Air — The Jet Giant Is Quietly Turning Things Around?

<ul><li>The Boeing Company's recent quarterly earnings call revealed a mixed performance, capturing both progress and ongoing challenges.</li><li>Key areas of focus included stabilizing production, managing fixed-price development programs, and cultural transformation, against the backdrop of an industry still in recovery.</li><li>On the commercial aerospace side, Boeing's production strategy post-IAM strike was highlighted.</li></ul>

The Boeing Company's recent quarterly earnings call revealed a mixed performance, capturing both progress and ongoing challenges.Key areas of focus included stabilizing production, managing fixed-price development programs, and cultural transformation, against the backdrop of an industry still in recovery.On the commercial aerospace side, Boeing's production strategy post-IAM strike was highlighted.

Boeing’s High-Stakes Production Ramp-Up: Can It Deliver Or Will Chaos Ensue? - Major Drivers

United States

The Boeing Company, together with its subsidiaries, develops, produces, and markets commercial jet aircraft, as well as provides related support services to the commercial airline industry worldwide.  The Company also researches, develops, produces, modifies, and supports information, space, and defense systems, including military aircraft, helicopters and space and missile systems.

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Boeing Co (BA US)

THE BOEING COMPANY - Equity Research Flash Note

BOEING’s gross loss for FY 2024 was $1,991 million, decreased by 126% com- pared to profit of $7,724 million for the corresponding period of 2023.

VRS (Valuation & Research Specialists)

Krungthai XSpring Zoom Eng. December 3, 2025

The SET Index is expected to move sideways up today, with the resistance at 1,290/1,300 points and the support at 1,274/1,264 points.

Krungthai XSpring

Boeing Ramps Up 737 and 787 Production: A Bold Play to Dominate Global Skies!

The Boeing Company's first-quarter 2025 earnings report reveals a mixed but generally favorable performance across the board. The company...

Baptista Research

Boeing Beats Lockheed To the F-47 & Locks In Korean Air — The Jet Giant Is Quietly Turning Things Around?

After years of turbulence marked by the 737 MAX crises, persistent quality control issues, and billions in losses across both its commercial and...

Baptista Research

Boeing’s High-Stakes Production Ramp-Up: Can It Deliver Or Will Chaos Ensue? - Major Drivers

The Boeing Company's recent quarterly earnings call revealed a mixed performance, capturing both progress and ongoing challenges. Key areas of...

Baptista Research

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