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>The Coca-Cola Company's first quarter in 2025 demonstrated its adaptation to the dynamic global environment, producing significant growth in organic revenues and operating margins.</li><li>The company reported a 2% increase in volume growth and robust organic revenue growth, aligning with their longstanding growth algorithm.</li><li>Coca-Cola maintained a resilient posture amidst challenges such as macroeconomic uncertainties and geopolitical tensions, achieving these results through enhanced capabilities, improved local execution, and effective alignment across systems.</li></ul>

The Coca-Cola Company's first quarter in 2025 demonstrated its adaptation to the dynamic global environment, producing significant growth in organic revenues and operating margins.The company reported a 2% increase in volume growth and robust organic revenue growth, aligning with their longstanding growth algorithm.Coca-Cola maintained a resilient posture amidst challenges such as macroeconomic uncertainties and geopolitical tensions, achieving these results through enhanced capabilities, improved local execution, and effective alignment across systems.

The Coca-Cola Company: An Insight Into Its Revenue Growth Management (RGM) & Margin Expansion!

Pan-Asia Catalysts/Events, Quiddity Advisors

David Blennerhassett

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

<ul>
<li>
<a href="https://www.smartkarma.com/entities/swire-pacific-ltd-cl-a" target="_blank" data-smartkarma-citation="entities:10433:1" rel="noopener"><strong>Swire Pacific (A) (19 HK)</strong></a> is proposing the spin-off and separate listing on the SET of non-wholly-owned ThaiNamthip Corporation Limited, a Coca-Cola franchise operator in Thailand, Cambodia and Laos.</li>
<li>On the 30th September, Swire completed the 55.7% acquisition for THB42,615.7mn (HK$9,470.1mn). ThaiNamthip concurrently sought to acquire a 30% stake in Swire Coca-Cola’s operations in Vietnam and Cambodia for HK$2,114.6mn.</li>
<li>At the time of the acquisition, ThaiNamthip had an extrapolative price tag of ~HK$17bn. Should the proposed spin-off complete, ThaiNamthip will remain a non-wholly owned subsidiary of Swire.</li>
</ul>



Swire Pacific (A) (19 HK) is proposing the spin-off and separate listing on the SET of non-wholly-owned ThaiNamthip Corporation Limited, a Coca-Cola franchise operator in Thailand, Cambodia and Laos.
On the 30th September, Swire completed the 55.7% acquisition for THB42,615.7mn (HK$9,470.1mn). ThaiNamthip concurrently sought to acquire a 30% stake in Swire Coca-Cola’s operations in Vietnam and Cambodia for HK$2,114.6mn.
At the time of the acquisition, ThaiNamthip had an extrapolative price tag of ~HK$17bn. Should the proposed spin-off complete, ThaiNamthip will remain a non-wholly owned subsidiary of Swire.


Swire Pac (19 HK): Thai Beverage Spin-Off

Research from Asian Century Stocks, Asian Century Stocks

Michael Fritzell

Research from Asian Century Stocks

Providing financial journalism in the Asia-Pacific

Asian Century Stocks

Asian Century Stocks is a newsletter providing financial journalism for companies and stocks in the Asia-Pacific. 
The Asian Century Stocks logotype “百” stands for “one hundred” or a “century”. The economic centre of gravity is moving towards Asia. Yet most global investors are missing out.

<ul><li>Last week, I had the great pleasure of meeting with Chief Financial Officer Amrit Shrestha and several of his colleagues at Coca-Cola bottler <a href="https://finance.yahoo.com/quote/HTC.BK/" target="_blank" rel="noopener">Haad Thip</a> (HTC TB - US$193 million).</li><li>The company is the exclusive producer and distributor of Coca-Cola products across Thailand’s 14 Southernmost provinces.</li><li>The stock has performed beautifully over time, though sideways since 2021. It trades at a 9.6x P/E ratio and a 6.4% dividend yield.</li></ul>

Last week, I had the great pleasure of meeting with Chief Financial Officer Amrit Shrestha and several of his colleagues at Coca-Cola bottler Haad Thip (HTC TB - US$193 million).The company is the exclusive producer and distributor of Coca-Cola products across Thailand’s 14 Southernmost provinces.The stock has performed beautifully over time, though sideways since 2021. It trades at a 9.6x P/E ratio and a 6.4% dividend yield.

<ul><li>The Coca-Cola Company's latest earnings release and conference call have unveiled a mix of both challenges and strengths in the company's financial results for the fourth quarter and full year of 2024.</li><li>The company reported a solid 7% growth in comparable earnings per share despite facing significant currency headwinds and the impact of bottler refranchising.</li><li>Organic revenue growth was robust at 14% in the fourth quarter, with a unit case growth of 2%.</li></ul>

The Coca-Cola Company's latest earnings release and conference call have unveiled a mix of both challenges and strengths in the company's financial results for the fourth quarter and full year of 2024.The company reported a solid 7% growth in comparable earnings per share despite facing significant currency headwinds and the impact of bottler refranchising.Organic revenue growth was robust at 14% in the fourth quarter, with a unit case growth of 2%.

The Coca-Cola Company: How Its Pricing Power & Expanding Portfolio Fuel Growth!

<ul><li>The Coca-Cola Company’s third-quarter earnings call for 2024 underscored a resilient performance despite a challenging market environment.</li><li>The company’s agility was evident as it navigated market fluctuations and executed its growth strategy competently.</li><li>The Coca-Cola Company reported a volume decline of 1% in the quarter, attributed to a slow July, but showed improvement in the succeeding months.</li></ul>

The Coca-Cola Company’s third-quarter earnings call for 2024 underscored a resilient performance despite a challenging market environment.The company’s agility was evident as it navigated market fluctuations and executed its growth strategy competently.The Coca-Cola Company reported a volume decline of 1% in the quarter, attributed to a slow July, but showed improvement in the succeeding months.

The Coca-Cola Company:  Diversification & Strategic Expansion into Non-Sparkling Categories & Other Major Drivers

United States

The Coca-Cola Company manufactures, markets, and distributes soft drink concentrates and syrups.  The Company also distributes and markets juice and juice-drink products.  Coca-Cola distributes its products to retailers and wholesalers in the United States and internationally.

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Coca Cola Co (KO US)

The Coca-Cola Company: An Insight Into Its Revenue Growth Management (RGM) & Margin Expansion!

The Coca-Cola Company's first quarter in 2025 demonstrated its adaptation to the dynamic global environment, producing significant growth in...

Baptista Research

Swire Pac (19 HK): Thai Beverage Spin-Off

Quantifying unlisted operations is positive. However, unless ThaiNamthip's valuation surprises to the upside, its listing impact may be limited....

David Blennerhassett

Haad Thip Meeting (HTC TB)

Steady performance but the higher sugar tax is a near-term headwind. Last week, I had the great pleasure of meeting with Chief Financial Officer...

Asian Century Stocks

The Coca-Cola Company: How Its Pricing Power & Expanding Portfolio Fuel Growth!

The Coca-Cola Company's latest earnings release and conference call have unveiled a mix of both challenges and strengths in the company's...

Baptista Research

The Coca-Cola Company: Diversification & Strategic Expansion into Non-Sparkling Categories & Other Major Drivers

The Coca-Cola Company’s third-quarter earnings call for 2024 underscored a resilient performance despite a challenging market environment. The...

Baptista Research

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