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>Caterpillar Inc. reported its third quarter 2025 results, highlighting robust financial performance attributed to resilient demand across its primary business segments: Construction Industries, Resource Industries, and Energy & Transportation.</li><li>Sales and revenues for the quarter reached an all-time record of $17.6 billion, a year-over-year increase of 10%.</li><li>This growth was primarily fueled by higher sales volume, particularly in Energy & Transportation, which saw a 25% rise largely driven by demand in power generation and oil and gas sectors.</li></ul>

Caterpillar Inc. reported its third quarter 2025 results, highlighting robust financial performance attributed to resilient demand across its primary business segments: Construction Industries, Resource Industries, and Energy & Transportation.Sales and revenues for the quarter reached an all-time record of $17.6 billion, a year-over-year increase of 10%.This growth was primarily fueled by higher sales volume, particularly in Energy & Transportation, which saw a 25% rise largely driven by demand in power generation and oil and gas sectors.

Caterpillar Inside: How Data Centers Are Fueling a Power Boom!

<ul><li>In a move that signals a sharp strategic pivot, Caterpillar has announced its intent to acquire RPMGlobal, Australia’s last publicly traded mining software company, for approximately A$1.12 billion ($728 million).</li><li>This acquisition comes at a time when Caterpillar is riding high on strong operational performance and is transitioning toward a more service-centric, digitally driven revenue model.</li><li>The offer of A$5 per share by Caterpillar, revealed in early September, has pushed RPMGlobal shares near their all-time highs, currently trading at A$4.75.</li></ul>

In a move that signals a sharp strategic pivot, Caterpillar has announced its intent to acquire RPMGlobal, Australia’s last publicly traded mining software company, for approximately A$1.12 billion ($728 million).This acquisition comes at a time when Caterpillar is riding high on strong operational performance and is transitioning toward a more service-centric, digitally driven revenue model.The offer of A$5 per share by Caterpillar, revealed in early September, has pushed RPMGlobal shares near their all-time highs, currently trading at A$4.75.

Caterpillar’s $728 Million Bet On Mining Software Could Redefine The Industry!

<ul><li>Caterpillar's second quarter of 2025 presented a mixed financial performance, reflecting both strengths and challenges within its diverse global operations.</li><li>The company reported sales and revenues of $16.6 billion, representing a slight decline of 1% compared to the previous year.</li><li>This decrease was primarily attributed to unfavorable price realization, despite higher sales volumes and financial product revenues which somewhat offset the overall sales dip.</li></ul>

Caterpillar's second quarter of 2025 presented a mixed financial performance, reflecting both strengths and challenges within its diverse global operations.The company reported sales and revenues of $16.6 billion, representing a slight decline of 1% compared to the previous year.This decrease was primarily attributed to unfavorable price realization, despite higher sales volumes and financial product revenues which somewhat offset the overall sales dip.

Caterpillar Inc. Rides Construction & Mining Boom—How Long Can Demand Stay Strong?

<ul><li>Caterpillar, long known for bulldozers and mining trucks, is now emerging as a quiet force behind the AI revolution—not through chips or software, but by powering the infrastructure that supports it.</li><li>At the heart of this shift is Caterpillar’s large-engine manufacturing facility in Lafayette, Indiana, where engines ranging from 1,000 to 6,000 horsepower are built to meet the soaring electricity demands of AI-powered data centers.</li><li>The facility, which currently employs over 2,000 people, is expected to double its capacity over the next three years.</li></ul>

Caterpillar, long known for bulldozers and mining trucks, is now emerging as a quiet force behind the AI revolution—not through chips or software, but by powering the infrastructure that supports it.At the heart of this shift is Caterpillar’s large-engine manufacturing facility in Lafayette, Indiana, where engines ranging from 1,000 to 6,000 horsepower are built to meet the soaring electricity demands of AI-powered data centers.The facility, which currently employs over 2,000 people, is expected to double its capacity over the next three years.

Caterpillar’s Data Center Pivot May Be Its Smartest Move Yet: The Most Underrated AI Infrastructure Stock?

<ul><li>Caterpillar Inc.'s first-quarter 2025 results exhibit a mixed performance influenced by various external factors, internal strategic decisions, and market conditions.</li><li>The company's sales and revenues reached $14.2 billion, marking a 10% decline year-over-year.</li><li>This was largely attributed to decreased sales volume and an unfavorable price realization amidst a dynamic market environment.</li></ul>

Caterpillar Inc.'s first-quarter 2025 results exhibit a mixed performance influenced by various external factors, internal strategic decisions, and market conditions.The company's sales and revenues reached $14.2 billion, marking a 10% decline year-over-year.This was largely attributed to decreased sales volume and an unfavorable price realization amidst a dynamic market environment.

Caterpillar Inc.: An Insight Into The Tariff Impacts & Pricing Strategy to Manage Tariff-Driven Cost Pressures!

United States

Caterpillar Inc. designs, manufactures and markets construction, mining and forestry machinery. The Company also manufactures engines  and other related parts for its equipment, and offers financing and insurance. Caterpillar distributes its products through a worldwide organization of dealers.

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Caterpillar Inc (CAT US)

Caterpillar Inside: How Data Centers Are Fueling a Power Boom!

Caterpillar Inc. reported its third quarter 2025 results, highlighting robust financial performance attributed to resilient demand across its...

Baptista Research

Caterpillar’s $728 Million Bet On Mining Software Could Redefine The Industry!

In a move that signals a sharp strategic pivot, Caterpillar has announced its intent to acquire RPMGlobal, Australia’s last publicly traded mining...

Baptista Research

Caterpillar Inc. Rides Construction & Mining Boom—How Long Can Demand Stay Strong?

Caterpillar's second quarter of 2025 presented a mixed financial performance, reflecting both strengths and challenges within its diverse global...

Baptista Research

Caterpillar’s Data Center Pivot May Be Its Smartest Move Yet: The Most Underrated AI Infrastructure Stock?

Caterpillar, long known for bulldozers and mining trucks, is now emerging as a quiet force behind the AI revolution—not through chips or software,...

Baptista Research

Caterpillar Inc.: An Insight Into The Tariff Impacts & Pricing Strategy to Manage Tariff-Driven Cost Pressures!

Caterpillar Inc.'s first-quarter 2025 results exhibit a mixed performance influenced by various external factors, internal strategic decisions,...

Baptista Research

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