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'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!

<ul><li>Chipotle Mexican Grill's first quarter fiscal 2025 results illustrate a complex interplay of growth initiatives and external headwinds.</li><li>The company reported a 6% increase in total sales, reaching $2.9 billion; however, there was a slight decline in comparable sales by 0.4%.</li><li>Digital sales accounted for 35.4% of total sales, reflecting the ongoing importance of digital channels.</li></ul>

Chipotle Mexican Grill's first quarter fiscal 2025 results illustrate a complex interplay of growth initiatives and external headwinds.The company reported a 6% increase in total sales, reaching $2.9 billion; however, there was a slight decline in comparable sales by 0.4%.Digital sales accounted for 35.4% of total sales, reflecting the ongoing importance of digital channels.

Chipotle Mexican Grill Revolutionizes Speed, Quality, & Sales With Next-Level Kitchen Innovations!

<ul><li>Chipotle Mexican Grill's fourth-quarter 2024 results present a mixed picture of robust growth and operational challenges.</li><li>The company saw a 13% increase in sales, reaching $2.8 billion for the quarter, driven by a 5.4% increase in comparable sales and a notable 4% increase in transaction growth.</li><li>For the full fiscal year 2024, sales grew by 15% to $11.3 billion, with a 7.4% increase in comparable sales including over 5% transaction growth.</li></ul>

Chipotle Mexican Grill's fourth-quarter 2024 results present a mixed picture of robust growth and operational challenges.The company saw a 13% increase in sales, reaching $2.8 billion for the quarter, driven by a 5.4% increase in comparable sales and a notable 4% increase in transaction growth.For the full fiscal year 2024, sales grew by 15% to $11.3 billion, with a 7.4% increase in comparable sales including over 5% transaction growth.

Chipotle Mexican Grill: Dealing With Digital Engagement Complexities & Other Key Challenges In Its Path!

Head of Research, IPOs & Placements, Aequitas Research

Sumeet Singh

Head of Research, IPOs & Placements

IPOs and Placements coverage across Asia Pacific

Aequitas Research

We cover all listing across the Asia Pacific along with follow-up placements. As of Dec 2020, our team had covered 539 IPOs with a hit rate of 73.5% and 685 placements with a hit rate of 66.8%.

We combine fundamental bottom-up views with our proprietary quantitative framework to provide a holistic coverage across new listings and placements. Our coverage includes pre-IPO notes before the deal is launched, follow-up analysis once the deal is live and post-listing trading analysis as well.

Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/guzman-y-gomez-limited" target="_blank" data-smartkarma-citation="entities:43656:1" rel="noopener">Guzman Y Gomez (GYG AU)</a> raised around US$221m in its Australian IPO. Its final IPO linked lockup expiry is due soon.</li>
<li>GYG is a quick service restaurant business with more than 200 restaurants globally. It mainly focuses on fresh, made-to-order, Mexican-inspired food.</li>
<li>In this note, we will talk about the lockup dynamics and possible placement.</li>
</ul>



Guzman Y Gomez (GYG AU) raised around US$221m in its Australian IPO. Its final IPO linked lockup expiry is due soon.
GYG is a quick service restaurant business with more than 200 restaurants globally. It mainly focuses on fresh, made-to-order, Mexican-inspired food.
In this note, we will talk about the lockup dynamics and possible placement.


Guzman IPO Lockup - Last of the Lockups for a US$750m+ Release

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: 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

Chipotle Mexican Grill Revolutionizes Speed, Quality, & Sales With Next-Level Kitchen Innovations!

Chipotle Mexican Grill's first quarter fiscal 2025 results illustrate a complex interplay of growth initiatives and external headwinds. The...

Baptista Research

Chipotle Mexican Grill: Dealing With Digital Engagement Complexities & Other Key Challenges In Its Path!

Chipotle Mexican Grill's fourth-quarter 2024 results present a mixed picture of robust growth and operational challenges. The company saw a 13%...

Baptista Research

Guzman IPO Lockup - Last of the Lockups for a US$750m+ Release

Guzman Y Gomez (GYG AU) raised around US$221m in its Australian IPO. Its final IPO linked lockup expiry is due soon. In this note we talk about its...

Sumeet Singh

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