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>Colgate-Palmolive delivered a disappointing set of results in the relatively unstable operating environment and failed to meet revenue expectations of the market despite producing a high single-digit organic sales growth in the third quarter, with expansion in every division.</li><li>The company also saw an increase in all four categories, with high single-digit growth in personal care, pet nutrition, and oral care.</li><li>Another capability they are expanding across the firm is revenue growth management (RGM) with their data and analytics team strategizing on the same.</li></ul>

Colgate-Palmolive delivered a disappointing set of results in the relatively unstable operating environment and failed to meet revenue expectations of the market despite producing a high single-digit organic sales growth in the third quarter, with expansion in every division.The company also saw an increase in all four categories, with high single-digit growth in personal care, pet nutrition, and oral care.Another capability they are expanding across the firm is revenue growth management (RGM) with their data and analytics team strategizing on the same.

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

i-Tail Corporation / Equity Capital Markets

<ul>
<li>I-Tail Corporation, an original equipment manufacturer (OEM) in the wet pet food category, aims to list in Thailand in 4Q22. ITC is a subsidiary of <a href="https://www.smartkarma.com/entities/thai-union-group-pcl" target="_blank" data-smartkarma-citation="entities:161:1" rel="noopener">Thai Union Group (TU TB)</a>. </li>
<li>As per ITC, it was the number two pet food company in Asia and in the top ten pet food companies globally. ITC expertise lies in fish-based wet pet food.</li>
<li>In our previous notes, we have looked at the company’s past performance and undertaken a peer comparison. In this note, we talk about valuations.</li>
</ul>


I-Tail Corporation, an original equipment manufacturer (OEM) in the wet pet food category, aims to list in Thailand in 4Q22. ITC is a subsidiary of Thai Union Group (TU TB). 
As per ITC, it was the number two pet food company in Asia and in the top ten pet food companies globally. ITC expertise lies in fish-based wet pet food.
In our previous notes, we have looked at the company’s past performance and undertaken a peer comparison. In this note, we talk about valuations.


I-Tail Corporation Pre-IPO - Initial Thoughts on Valuation

<ul>
<li>I-Tail Corporation, an original equipment manufacturer (OEM) in the wet pet food category, aims to list in Thailand in 4Q22. ITC is a subsidiary of <a href="https://www.smartkarma.com/entities/thai-union-group-pcl" target="_blank" data-smartkarma-citation="entities:161:1" rel="noopener">Thai Union Group (TU TB)</a>. </li>
<li>As per ITC, it was the number two pet food company in Asia and in the top ten pet food companies globally. ITC expertise lies in fish-based wet pet food.</li>
<li>In our previous notes, we have looked at the company’s past performance. In this note, we undertake a peer comparison.</li>
</ul>


I-Tail Corporation, an original equipment manufacturer (OEM) in the wet pet food category, aims to list in Thailand in 4Q22. ITC is a subsidiary of Thai Union Group (TU TB). 
As per ITC, it was the number two pet food company in Asia and in the top ten pet food companies globally. ITC expertise lies in fish-based wet pet food.
In our previous notes, we have looked at the company’s past performance. In this note, we undertake a peer comparison.


I-Tail Corporation Pre-IPO - Peer Comparison

<ul><li>Colgate-Palmolive had a splendid quarter and surged past Wall Street expectations on all counts by delivering growth over all of its categories as well as its divisions.</li><li>The company has built up its innovation capabilities to deliver more transformational innovation and breakthroughs that can drive both market share and category market.</li><li>Organic sales growth has been seen in four of its categories Home Care, Personal Care, Pet Nutrition, and Oral Care.</li></ul>

Colgate-Palmolive had a splendid quarter and surged past Wall Street expectations on all counts by delivering growth over all of its categories as well as its divisions.The company has built up its innovation capabilities to deliver more transformational innovation and breakthroughs that can drive both market share and category market.Organic sales growth has been seen in four of its categories Home Care, Personal Care, Pet Nutrition, and Oral Care.

Colgate-Palmolive: New Acquisitions For Supporting Pet Nutrition & Other Drivers

Value Investing

Vladimir Dimitrov, CFA

<ul>
<li>Colgate-Palmolive (<span class="ticker-hover-wrapper">NYSE:<a href="https://www.smartkarma.com/search?q=CL" target="_blank" rel="noopener">CL</a></span>) is hardly a business for risk-seeking and short-term oriented investors.</li>
<li>While the management has given us a <a href="https://seekingalpha.com/article/4502402-colgate-palmolive-a-masterclass-in-long-term-value-creation?source=all_articles_title" target="_blank" rel="noopener">master class in long-term value creation</a>, the share price is also unlikely to make anyone rich quickly.</li>
<li>On<span class="paywall-full-content"> the contrary, CL is an investment akin for anyone looking for steady value accumulation, superior risk-adjusted returns and a wide moat.</span>
</li>
</ul>


Colgate-Palmolive (NYSE:CL) is hardly a business for risk-seeking and short-term oriented investors.
While the management has given us a master class in long-term value creation, the share price is also unlikely to make anyone rich quickly.
On the contrary, CL is an investment akin for anyone looking for steady value accumulation, superior risk-adjusted returns and a wide moat.



Colgate-Palmolive: What Recent Results Mean For Long-Term Holders

United States

Colgate-Palmolive Company is a consumer products company that markets its products throughout the world.  The Company's products include toothpaste, toothbrushes, shampoos, deodorants, bar and liquid soaps, dishwashing liquid, and laundry products, as well as pet nutrition products for cats and dogs.

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Colgate Palmolive Co (CL US)

Colgate-Palmolive Co: Major Drivers

Colgate-Palmolive delivered a disappointing set of results in the relatively unstable operating environment and failed to meet revenue...

Baptista Research

I-Tail Corporation Pre-IPO - Initial Thoughts on Valuation

I-Tail Corporation, an original equipment manufacturer (OEM) in the wet pet food category, aims to list in Thailand in 4Q22. ITC is a subsidiary of...

Sumeet Singh

I-Tail Corporation Pre-IPO - Peer Comparison

I-Tail Corporation, an OEM in the wet pet food category, aims to list in Thailand in 4Q22. ITC is a subsidiary of Thai Union Group. In this note,...

Sumeet Singh

Colgate-Palmolive: New Acquisitions For Supporting Pet Nutrition & Other Drivers

Colgate-Palmolive had a splendid quarter and surged past Wall Street expectations on all counts by delivering growth over all of its categories as...

Baptista Research

Colgate-Palmolive: What Recent Results Mean For Long-Term Holders

While the management has given us a master class in long-term value creation, the share price is also unlikely to make anyone rich quickly.

Vladimir Dimitrov, CFA

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52-week Range

Market Cap (USDm)

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