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>Builders FirstSource, Inc.'s recent third-quarter earnings call highlights both the strengths and challenges the company is facing amid current market conditions.</li><li>The results reflect the company's strategic efforts to manage operational inefficiencies and leverage its competitive advantages, even as the broader housing market remains sluggish.</li><li>On the positive side, Builders FirstSource continues to demonstrate resilience in navigating a challenging market environment characterized by weak single-family construction and tempered demand, even following the Federal Reserve's interest rate cuts in 2025.</li></ul>

Builders FirstSource, Inc.'s recent third-quarter earnings call highlights both the strengths and challenges the company is facing amid current market conditions.The results reflect the company's strategic efforts to manage operational inefficiencies and leverage its competitive advantages, even as the broader housing market remains sluggish.On the positive side, Builders FirstSource continues to demonstrate resilience in navigating a challenging market environment characterized by weak single-family construction and tempered demand, even following the Federal Reserve's interest rate cuts in 2025.

Builders FirstSource Bets Big on Multifamily—What Is Its Role In The Next Housing Boom?

External reports (aggregated public sources), Value Investors Club

Value Investors Club (VIC)

External reports (aggregated public sources)

Value Investors Club

Key points (machine generated)<ul><li>Builders FirstSource is the largest U.S. supplier of structural building materials and services, with 2024 net sales of $16.4 billion.</li><li>Revenue is primarily generated from new single-family construction (71%), with diverse product offerings including lumber, windows, and manufactured products.</li><li>Analysts consider BLDR undervalued due to expected housing starts and operational efficiencies, with chairman Paul Levy recently investing $55 million in the company.</li></ul>This article is sourced from an online content aggregator through publicly available sources and is displayed below for general informational purposes only. This article was originally published 3 months ago on Value Investors Club.

Key points (machine generated)Builders FirstSource is the largest U.S. supplier of structural building materials and services, with 2024 net sales of $16.4 billion.Revenue is primarily generated from new single-family construction (71%), with diverse product offerings including lumber, windows, and manufactured products.Analysts consider BLDR undervalued due to expected housing starts and operational efficiencies, with chairman Paul Levy recently investing $55 million in the company.This article is sourced from an online content aggregator through publicly available sources and is displayed below for general informational purposes only. This article was originally published 3 months ago on Value Investors Club.

Builders Firstsource (BLDR) - Friday, Jul 11, 2025

<ul><li>Builders FirstSource operates within a dynamic and challenging market environment in the construction industry.</li><li>In its second quarter of 2025, the company has faced some notable financial and operational challenges, yet also showed resilience and strategic forward-thinking.</li><li>Their performance presentation outlines both areas of strength and concern that potential investors should consider.</li></ul>

Builders FirstSource operates within a dynamic and challenging market environment in the construction industry.In its second quarter of 2025, the company has faced some notable financial and operational challenges, yet also showed resilience and strategic forward-thinking.Their performance presentation outlines both areas of strength and concern that potential investors should consider.

Builders FirstSource Set to Surge if Mortgage Rates Drop – What Else Could Propel Their Future Growth?

<ul><li>Builders FirstSource reported first-quarter results highlighting both resilience and areas of concern, underscored by macroeconomic pressures and strategic initiatives aimed at sustaining long-term growth.</li><li>During the quarter, Builders FirstSource recorded net sales of $3.7 billion, marking a 6% year-over-year decline.</li><li>This decrease was primarily attributed to reduced core organic sales and a noteworthy drop in multifamily sales, which fell by 33%.</li></ul>

Builders FirstSource reported first-quarter results highlighting both resilience and areas of concern, underscored by macroeconomic pressures and strategic initiatives aimed at sustaining long-term growth.During the quarter, Builders FirstSource recorded net sales of $3.7 billion, marking a 6% year-over-year decline.This decrease was primarily attributed to reduced core organic sales and a noteworthy drop in multifamily sales, which fell by 33%.

Builders FirstSource: Digital Initiatives & Modern Tool Adoption As A Vital Tool For Growth!

Pan-Asia Index Rebalances/ Events/ Delta One, Periscope Analytics

Brian Freitas

Pan-Asia Index Rebalances/ Events/ Delta One

Periscope Analytics

Periscope Analytics focuses on event-driven trades across Asia Pacific and provides comprehensive, timely and systematic coverage of index changes to major Asia Pacific indices in a structured manner.

The analysis includes forecasted inclusions and exclusions to all major Asian indices that have significant amount of tracking assets, including estimates of passive buy/sell flow on the stocks. The service also provides commentary and impact of market consultations, ground rule changes, and other events (IPOs, spin-offs, M&A) that could lead to index changes and passive flow.

Periscope Analytics works with multi-strategy hedge funds, proprietary trading firms, stat arb trading groups and long-only investors that invest and trade in the Asia Pacific region with the data being used to trade index rebalances, avoid pre-positioning and passive flow, and to time entry into and exit from stocks.

Event-Driven Trades Across Asia Pacific

Index Rebalance

<ul>
<li>
<a href="https://www.smartkarma.com/entities/uber-technologies-inc" target="_blank" data-smartkarma-citation="entities:430:1" rel="noopener">Uber Technologies (UBER US)</a>, <a href="https://www.smartkarma.com/entities/jabil-circuit-inc" target="_blank" data-smartkarma-citation="entities:16674:1" rel="noopener">Jabil Circuit (JBL US)</a> and <a href="https://www.smartkarma.com/entities/builders-firstsource-inc" target="_blank" data-smartkarma-citation="entities:4720:1" rel="noopener">Builders Firstsource (BLDR US)</a> will be added to the <a href="https://www.smartkarma.com/entities/s-p-500-index" target="_blank" data-smartkarma-citation="entities:22886:1" rel="noopener">S&amp;P 500 INDEX (SPX INDEX)</a> at the close on 15 December.</li>
<li>There are a bunch of inclusions. deletions and migrations across the <a href="https://www.smartkarma.com/entities/s-p-500-index" target="_blank" data-smartkarma-citation="entities:22886:1" rel="noopener">S&amp;P 500 INDEX (SPX INDEX)</a>, the S&amp;P Midcap 400 Index, and the S&amp;P SmallCap 600 Index.</li>
<li>We estimate passive trackers will need to buy around US$18bn of <a href="https://www.smartkarma.com/entities/uber-technologies-inc" target="_blank" data-smartkarma-citation="entities:430:1" rel="noopener">Uber Technologies (UBER US)</a>. There has been positioning in the stock for just over a month now. </li>
</ul>



Uber Technologies (UBER US), Jabil Circuit (JBL US) and Builders Firstsource (BLDR US) will be added to the S&amp;P 500 INDEX (SPX INDEX) at the close on 15 December.
There are a bunch of inclusions. deletions and migrations across the S&amp;P 500 INDEX (SPX INDEX), the S&amp;P Midcap 400 Index, and the S&amp;P SmallCap 600 Index.
We estimate passive trackers will need to buy around US$18bn of Uber Technologies (UBER US). There has been positioning in the stock for just over a month now. 


United States

Builders FirstSource, Inc. manufactures and distributes building products to professional homebuilders.

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Builders Firstsource (BLDR US)

Builders FirstSource Bets Big on Multifamily—What Is Its Role In The Next Housing Boom?

Builders FirstSource, Inc.'s recent third-quarter earnings call highlights both the strengths and challenges the company is facing amid current...

Baptista Research

Builders Firstsource (BLDR) - Friday, Jul 11, 2025

Builders FirstSource is the largest U.S. supplier of structural building materials and services, with 2024 net sales of $16.4 billion.

Value Investors Club (VIC)

Builders FirstSource Set to Surge if Mortgage Rates Drop – What Else Could Propel Their Future Growth?

Builders FirstSource operates within a dynamic and challenging market environment in the construction industry. In its second quarter of 2025, the...

Baptista Research

Builders FirstSource: Digital Initiatives & Modern Tool Adoption As A Vital Tool For Growth!

Builders FirstSource reported first-quarter results highlighting both resilience and areas of concern, underscored by macroeconomic pressures and...

Baptista Research

S&P500 Index Rebalance: Calling an UBER

Passive S&P500 index trackers will need to buy around US$18bn of Uber in two weeks. Positioning in the stock began a month ago and just ahead of Q3...

Brian Freitas

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