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 fourth-quarter earnings of Colgate-Palmolive were decent and the company demonstrated impressive resilience in 2023, focusing on sustainable organic sales growth, rebuilding margins and strengthening cash flow performance amid an increasingly challenging operating environment.</li><li>However, some challenges persist, such as geopolitical unrest, foreign exchange headwinds and industry shifts, which might impact results in 2024.</li><li>Baptista Research looks to evaluate the different factors that could influence the company's price in the near future and attempts to carry out an independent valuation of the company using a Discounted Cash Flow (DCF) methodology.</li></ul>

The fourth-quarter earnings of Colgate-Palmolive were decent and the company demonstrated impressive resilience in 2023, focusing on sustainable organic sales growth, rebuilding margins and strengthening cash flow performance amid an increasingly challenging operating environment.However, some challenges persist, such as geopolitical unrest, foreign exchange headwinds and industry shifts, which might impact results in 2024.Baptista Research looks to evaluate the different factors that could influence the company's price in the near future and attempts to carry out an independent valuation of the company using a Discounted Cash Flow (DCF) methodology.

Colgate-Palmolive: What Is Its New Approach To Market Expansion & Its New Pricing Strategy? - Major Drivers

<ul><li>Colgate-Palmolive Company delivered a positive result and managed an all-around beat in the last quarter, signaling a positive trajectory toward volume growth.</li><li>This operational flexibility empowered the company to deliver yet another quarter of double-digit operating profit growth, complemented by a substantial 23% surge in advertising expenditure.</li><li>In this report, we have carried out a fundamental analysis of the historical financial statements of the company.</li></ul>

Colgate-Palmolive Company delivered a positive result and managed an all-around beat in the last quarter, signaling a positive trajectory toward volume growth.This operational flexibility empowered the company to deliver yet another quarter of double-digit operating profit growth, complemented by a substantial 23% surge in advertising expenditure.In this report, we have carried out a fundamental analysis of the historical financial statements of the company.

Colgate-Palmolive Company: Focus On Science-Based Innovation As A Major Growth Catalyst! – Key Drivers

<ul><li>Colgate-Palmolive Company delivered a solid result and managed an all-around beat in the last quarter.</li><li>The company produced a decent performance in terms of organic sales growth.</li><li>In addition to increasing its gross margin, Colgate-Palmolive also increased its operating margin.</li></ul>

Colgate-Palmolive Company delivered a solid result and managed an all-around beat in the last quarter.The company produced a decent performance in terms of organic sales growth.In addition to increasing its gross margin, Colgate-Palmolive also increased its operating margin.

Global Healthcare Analyst

Tina Banerjee

<ul>
<li>
<a href="https://www.smartkarma.com/entities/kenvue-inc" target="_blank" data-smartkarma-citation="entities:36755:1" rel="noopener">Kenvue (KVUE US)</a> reported 5% YoY revenue growth to $4B in 2Q23, driven by continued demand of self-care portfolio, mainly consisting of cough, cold, and allergy, and pain care products.</li>
<li>The company has guided for 4.5–5.5% revenue growth and EPS of $1.26–1.31 for 2023. Kenvue has declared a cash dividend of $0.20 for 3Q23.  </li>
<li>J&amp;J is offering its shareholders the option to exchange shares for Kenvue's at a 7% discount. The exchange offer is scheduled to close on August 18, 2023.</li>
</ul>



Kenvue (KVUE US) reported 5% YoY revenue growth to $4B in 2Q23, driven by continued demand of self-care portfolio, mainly consisting of cough, cold, and allergy, and pain care products.
The company has guided for 4.5–5.5% revenue growth and EPS of $1.26–1.31 for 2023. Kenvue has declared a cash dividend of $0.20 for 3Q23.  
J&amp;J is offering its shareholders the option to exchange shares for Kenvue's at a 7% discount. The exchange offer is scheduled to close on August 18, 2023.


Kenvue (KVUE US): Q2 Result Beats Estimates; Initiated 2023 Guidance; J&J Launches Exchange Offer

External broker reports(aggregated public sources), HDFC Securities

HDFC Securities

External broker reports(aggregated public sources)

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Thematic (Sector/Industry)

<ul><li>Bajaj Finance: Bajaj Finance (BAF) delivered a strong set of numbers on the back of higher-than-expected growth in AUM (+32% YoY), customer additions (+42% YoY) and new loans booked (+34% YoY)</li><li>Asset quality improved marginally with GS-II/GS-III at 1.2%/0.9% however, credit costs were slightly higher on the back of prudent provisioning</li><li>Operating efficiency remained steady with the C/I ratio at 34%</li></ul><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

Bajaj Finance: Bajaj Finance (BAF) delivered a strong set of numbers on the back of higher-than-expected growth in AUM (+32% YoY), customer additions (+42% YoY) and new loans booked (+34% YoY)Asset quality improved marginally with GS-II/GS-III at 1.2%/0.9% however, credit costs were slightly higher on the back of prudent provisioningOperating efficiency remained steady with the C/I ratio at 34%Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

HSIE Results Daily: Bajaj Finance, Axis Bank, Tech Mahindra, Colgate Palmolive

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: What Is Its New Approach To Market Expansion & Its New Pricing Strategy? - Major Drivers

The fourth-quarter earnings of Colgate-Palmolive were decent and the company demonstrated impressive resilience in 2023, focusing on sustainable...

Baptista Research

Colgate-Palmolive Company: Focus On Science-Based Innovation As A Major Growth Catalyst! – Key Drivers

Colgate-Palmolive Company delivered a positive result and managed an all-around beat in the last quarter, signaling a positive trajectory toward...

Baptista Research

Colgate-Palmolive Company: Strong Sales

Colgate-Palmolive Company delivered a solid result and managed an all-around beat in the last quarter. The company produced a decent performance...

Baptista Research

Kenvue (KVUE US): Q2 Result Beats Estimates; Initiated 2023 Guidance; J&J Launches Exchange Offer

Kenvue beat Q2 sales and EPS estimates and guided for 4.5-5.5% sales growth for 2023. J&J is launching exchange offer for its holders to get ...

Tina Banerjee

HSIE Results Daily: Bajaj Finance, Axis Bank, Tech Mahindra, Colgate Palmolive

Bajaj Finance (BAF) delivered a strong set of numbers on the back of higher-than-expected growth in AUM (+32% YoY), customer additions (+42% YoY)...

HDFC Securities

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