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

Chipotle Mexican Grill / Equity Bottom-Up

<ul><li>Chipotle Mexican Grill reported first quarter 2026 results that reflected a continuation of its Recipe for Growth strategy, demonstrating early positive momentum across several operational and strategic initiatives.</li><li>The company achieved a 7.4% revenue increase to $3.1 billion, driven by a modest 0.5% comparable restaurant sales rise and a return to positive transaction growth.</li><li>Digital sales comprised 38.6% of total sales.</li></ul>

Chipotle Mexican Grill reported first quarter 2026 results that reflected a continuation of its Recipe for Growth strategy, demonstrating early positive momentum across several operational and strategic initiatives.The company achieved a 7.4% revenue increase to $3.1 billion, driven by a modest 0.5% comparable restaurant sales rise and a return to positive transaction growth.Digital sales comprised 38.6% of total sales.

Chipotle Mexican Grill: Menu Innovation Accelerates—Can More LTOs Bring Diners Back More Often?

<ul><li>Chipotle Mexican Grill's fourth-quarter and full-year 2025 earnings report presents both positive developments and areas of concern for the company.</li><li>The report highlights a 5.4% year-over-year revenue growth, despite a 1.7% decline in comparable sales.</li><li>Adjusted diluted earnings per share increased by 4.5% to $1.17.</li></ul>

Chipotle Mexican Grill's fourth-quarter and full-year 2025 earnings report presents both positive developments and areas of concern for the company.The report highlights a 5.4% year-over-year revenue growth, despite a 1.7% decline in comparable sales.Adjusted diluted earnings per share increased by 4.5% to $1.17.

Chipotle’s Expansion Strategy Explained: New Stores, New Menus, and Operational Precision!

<ul><li>Chipotle Mexican Grill's third-quarter performance for fiscal 2025 reveals a mixed picture.</li><li>The company reported a 7.5% increase in sales, reaching $3 billion, though same-store sales increased by only 0.3%.</li><li>Digital sales contributed significantly, making up 36.7% of total sales.</li></ul>

Chipotle Mexican Grill's third-quarter performance for fiscal 2025 reveals a mixed picture.The company reported a 7.5% increase in sales, reaching $3 billion, though same-store sales increased by only 0.3%.Digital sales contributed significantly, making up 36.7% of total sales.

Chipotle Mexican Grill: Unit Growth & Operational Enhancements Boosting Store-Level Economics!

<ul><li>Chipotle Mexican Grill released its second quarter 2025 earnings, highlighting a mixed performance amid various challenges and strategic advancements.</li><li>Total sales for the quarter increased by 3% to reach $3.1 billion, although comparable sales fell by 4%.</li><li>Digital sales accounted for 35.5% of the total, demonstrating the company's strong digital presence.</li></ul>

Chipotle Mexican Grill released its second quarter 2025 earnings, highlighting a mixed performance amid various challenges and strategic advancements.Total sales for the quarter increased by 3% to reach $3.1 billion, although comparable sales fell by 4%.Digital sales accounted for 35.5% of the total, demonstrating the company's strong digital presence.

Chipotle Mexican Grill: Their Single Biggest Challenge Is The Loyalty Program Engagement Of Its 40 Million Loyalty Members!

Independent Research, US Dominant Players, Investment Talk

Investment Talk

Independent Research, US Dominant Players

Investment Talk is for readers who wish to learn about companies that are potentially outside of their own circle of research, as well as those who are longing to become part of a community of like-minded investors and learn more about investment research. I would describe myself as a long-term investor who typically takes a 3Y to 5Y outlook, before reassessing once that period matures. I follow the adage that one should research, reach a conclusion, and then verify and continue to hold so long as the thesis remains intact. My own investing style is one that seeks to find dominant players within their respective market who have shown signs of monopoly or oligopolistic behaviour, unlikely to be disrupted, in tandem with discovering market disruptors who have a high likelihood of disrupting their respective market. Equally (and weighted accordingly) I seek to discover more nuanced, misunderstood, situations with a shorter time frame.

Thematic (Sector/Industry)

<ul><li>In the words of the controversial financier, George Soros, “I haven’t given up the illusion that I have something important and original to say”.</li><li>On October 30th, 2025, I was perusing my Twitter feed— a once enjoyable experience that has sadly decayed over the last few years.</li><li>That is not the subject of today’s prose, however.</li></ul>

In the words of the controversial financier, George Soros, “I haven’t given up the illusion that I have something important and original to say”.On October 30th, 2025, I was perusing my Twitter feed— a once enjoyable experience that has sadly decayed over the last few years.That is not the subject of today’s prose, however.

United States

Chipotle Mexican Grill, Inc. owns and operates quick serve Mexican restaurants. The Company manages restaurants throughout the United States.

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Chipotle Mexican Grill (CMG US)

Chipotle Mexican Grill: Menu Innovation Accelerates—Can More LTOs Bring Diners Back More Often?

Chipotle Mexican Grill reported first quarter 2026 results that reflected a continuation of its Recipe for Growth strategy, demonstrating early...

Baptista Research

Chipotle’s Expansion Strategy Explained: New Stores, New Menus, and Operational Precision!

Chipotle Mexican Grill's fourth-quarter and full-year 2025 earnings report presents both positive developments and areas of concern for the...

Baptista Research

Chipotle Mexican Grill: Unit Growth & Operational Enhancements Boosting Store-Level Economics!

Chipotle Mexican Grill's third-quarter performance for fiscal 2025 reveals a mixed picture. The company reported a 7.5% increase in sales,...

Baptista Research

Chipotle Mexican Grill: Their Single Biggest Challenge Is The Loyalty Program Engagement Of Its 40 Million Loyalty Members!

Chipotle Mexican Grill released its second quarter 2025 earnings, highlighting a mixed performance amid various challenges and strategic...

Baptista Research

Slop Too Shall Pass

In the words of the controversial financier, George Soros, “I haven’t given up the illusion that I have something important and original to say”.

Investment Talk

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