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>Deckers Brands, the parent company of popular footwear brands HOKA and UGG, has delivered a noteworthy start to its fiscal year 2026, surpassing market expectations.</li><li>In the first quarter, the company reported a 17% increase in revenue, reaching $965 million, and a 24% rise in diluted earnings per share to $0.93.</li><li>Such performance was largely driven by the robust sales from its flagship brands, especially in international markets despite a challenging domestic environment in the United States.</li></ul>

Deckers Brands, the parent company of popular footwear brands HOKA and UGG, has delivered a noteworthy start to its fiscal year 2026, surpassing market expectations.In the first quarter, the company reported a 17% increase in revenue, reaching $965 million, and a 24% rise in diluted earnings per share to $0.93.Such performance was largely driven by the robust sales from its flagship brands, especially in international markets despite a challenging domestic environment in the United States.

Deckers Outdoor Betting Big on HOKA: What Does The Recent Quarterly Growth Imply In Terms Of its Long Term Prospects?

<ul><li>Deckers Brands recently reported its financial performance for the fourth quarter and the fiscal year 2025.</li><li>The company showcased robust growth across its portfolio, emphasizing the success of its leading brands, HOKA and UGG.</li><li>With a revenue increase of 16% year-over-year, the company approached $5 billion in sales, signaling strong brand appeal and strategic market positioning.</li></ul>

Deckers Brands recently reported its financial performance for the fourth quarter and the fiscal year 2025.The company showcased robust growth across its portfolio, emphasizing the success of its leading brands, HOKA and UGG.With a revenue increase of 16% year-over-year, the company approached $5 billion in sales, signaling strong brand appeal and strategic market positioning.

Deckers Brands: Will Its Strategic Investments in SG&A And Brand Awareness Help in Sustainable Growth?

<ul><li>Deckers Brands delivered a robust performance in its third quarter of fiscal 2025, signaling both high levels of growth and notable profitability.</li><li>The company's revenue increased by 17% compared to the previous year, reaching $1.83 billion, with significant contributions from the UGG and HOKA brands.</li><li>The gross margins improved to 60.3%, and diluted earnings per share rose by 19% to $3.</li></ul>

Deckers Brands delivered a robust performance in its third quarter of fiscal 2025, signaling both high levels of growth and notable profitability.The company's revenue increased by 17% compared to the previous year, reaching $1.83 billion, with significant contributions from the UGG and HOKA brands.The gross margins improved to 60.3%, and diluted earnings per share rose by 19% to $3.

Deckers Outdoor: Ugg’s Profit Machine and Hoka’s Expansion—What Investors Need to Know!

Pan-Asia Catalysts/Events, Quiddity Advisors

Travis Lundy

Pan-Asia Catalysts/Events

Quiddity Advisors

Index Rebalance

<ul>
<li>On Friday after the close, the S&amp;P DJI Index Committee announced changes to the S&amp;P 100, S&amp;P500, S&amp;P MidCap400, and S&amp;P SmallCap600. Changes happen at the close 15 March 2024.</li>
<li>
<a href="https://www.smartkarma.com/entities/super-micro-computer-inc" target="_blank" data-smartkarma-citation="entities:7921:1" rel="noopener">Super Micro Computer (SMCI US)</a> and <a href="https://www.smartkarma.com/entities/deckers-outdoor-corp" target="_blank" data-smartkarma-citation="entities:3028:1" rel="noopener">Deckers Outdoor (DECK US)</a> replace <a href="https://www.smartkarma.com/entities/zions-bancorporation" target="_blank" data-smartkarma-citation="entities:9490:1" rel="noopener">Zions Bancorporation (ZION US)</a> and <a href="https://www.smartkarma.com/entities/whirlpool-corp" target="_blank" data-smartkarma-citation="entities:1538:1" rel="noopener">Whirlpool Corp (WHR US)</a> in the S&amp;P500. 2 changes to 400, 6 to 600.</li>
<li>The immediate reaction was to send SMCI up 12.5%. That's shortsighted. It pays to count the pennies involved. There are a LOT of pennies.</li>
</ul>


On Friday after the close, the S&amp;P DJI Index Committee announced changes to the S&amp;P 100, S&amp;P500, S&amp;P MidCap400, and S&amp;P SmallCap600. Changes happen at the close 15 March 2024.

Super Micro Computer (SMCI US) and Deckers Outdoor (DECK US) replace Zions Bancorporation (ZION US) and Whirlpool Corp (WHR US) in the S&amp;P500. 2 changes to 400, 6 to 600.
The immediate reaction was to send SMCI up 12.5%. That's shortsighted. It pays to count the pennies involved. There are a LOT of pennies.


S&P 500/400/600 Index Rebal - It's Not The Trade You Think

Pan-Asia Index Rebalances/ Events/ Delta One, Periscope Analytics

Brian Freitas

Pan-Asia Index Rebalances/ Events/ Delta One

Periscope Analytics

Periscope Analytics focuses on event-driven trades across Asia Pacific and provides comprehensive, timely and systematic coverage of index changes to major Asia Pacific indices in a structured manner.

The analysis includes forecasted inclusions and exclusions to all major Asian indices that have significant amount of tracking assets, including estimates of passive buy/sell flow on the stocks. The service also provides commentary and impact of market consultations, ground rule changes, and other events (IPOs, spin-offs, M&A) that could lead to index changes and passive flow.

Periscope Analytics works with multi-strategy hedge funds, proprietary trading firms, stat arb trading groups and long-only investors that invest and trade in the Asia Pacific region with the data being used to trade index rebalances, avoid pre-positioning and passive flow, and to time entry into and exit from stocks.

Event-Driven Trades Across Asia Pacific

<ul>
<li>
<a href="https://www.smartkarma.com/entities/super-micro-computer-inc" target="_blank" data-smartkarma-citation="entities:7921:1" rel="noopener">Super Micro Computer (SMCI US)</a> and <a href="https://www.smartkarma.com/entities/deckers-outdoor-corp" target="_blank" data-smartkarma-citation="entities:3028:1" rel="noopener">Deckers Outdoor (DECK US)</a> replace <a href="https://www.smartkarma.com/entities/whirlpool-corp" target="_blank" data-smartkarma-citation="entities:1538:1" rel="noopener">Whirlpool Corp (WHR US)</a> and <a href="https://www.smartkarma.com/entities/zions-bancorporation" target="_blank" data-smartkarma-citation="entities:9490:1" rel="noopener">Zions Bancorporation (ZION US)</a> in the <a href="https://www.smartkarma.com/entities/s-p-500-index" target="_blank" data-smartkarma-citation="entities:22886:1" rel="noopener">S&amp;P 500 INDEX</a> at the close on 15 March.</li>
<li>There are a bunch of inclusions, deletions and migrations across the <a href="https://www.smartkarma.com/entities/s-p-500-index" target="_blank" data-smartkarma-citation="entities:22886:1" rel="noopener">S&amp;P 500 INDEX (SPX INDEX)</a>, the S&amp;P Midcap 400 Index, and the S&amp;P SmallCap 600 Index.</li>
<li>The largest flows will be in the <a href="https://www.smartkarma.com/entities/s-p-500-index" target="_blank" data-smartkarma-citation="entities:22886:1" rel="noopener">S&amp;P 500 INDEX (SPX INDEX)</a> adds and the largest impact in the adds to the S&amp;P SmallCap 600 Index.</li>
</ul>



Super Micro Computer (SMCI US) and Deckers Outdoor (DECK US) replace Whirlpool Corp (WHR US) and Zions Bancorporation (ZION US) in the S&amp;P 500 INDEX at the close on 15 March.
There are a bunch of inclusions, deletions and migrations across the S&amp;P 500 INDEX (SPX INDEX), the S&amp;P Midcap 400 Index, and the S&amp;P SmallCap 600 Index.
The largest flows will be in the S&amp;P 500 INDEX (SPX INDEX) adds and the largest impact in the adds to the S&amp;P SmallCap 600 Index.


S&P500 Index Rebalance: SPCY Additions & Large Impact

United States

Deckers Outdoor Corporation designs and markets footwear and accessories.  The Company offers footwear for men, women and children. Deckers sells its products including accessories such as handbags, headwear, and outerwear, through domestic retailers and international distributors and directly to end-user consumers, through call centers, retail concept stores and retail outlet stores.

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Deckers Outdoor (DECK US)

Deckers Outdoor Betting Big on HOKA: What Does The Recent Quarterly Growth Imply In Terms Of its Long Term Prospects?

Deckers Brands, the parent company of popular footwear brands HOKA and UGG, has delivered a noteworthy start to its fiscal year 2026, surpassing...

Baptista Research

Deckers Brands: Will Its Strategic Investments in SG&A And Brand Awareness Help in Sustainable Growth?

Deckers Brands recently reported its financial performance for the fourth quarter and the fiscal year 2025. The company showcased robust growth...

Baptista Research

Deckers Outdoor: Ugg’s Profit Machine and Hoka’s Expansion—What Investors Need to Know!

Deckers Brands delivered a robust performance in its third quarter of fiscal 2025, signaling both high levels of growth and notable...

Baptista Research

S&P 500/400/600 Index Rebal - It's Not The Trade You Think

The S&P DJI Index Committee announced the March index rebals. Everybody is looking at SMCI because it has run hard til now. That's missing the...

Travis Lundy

S&P500 Index Rebalance: SPCY Additions & Large Impact

There are bunch of adds, deletes and migrations for the SnP 500/400/600 indices in March. The largest inflows are on the SP500 adds but the largest...

Brian Freitas

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Deckers Outdoor Betting Big on HOKA: What Does The Recent Quarterly Growth Imply In Terms Of its Long Term Prospects?

Deckers Brands, the parent company of popular footwear brands HOKA and UGG, has delivered a noteworthy start to its fiscal year 2026, surpassing...

Baptista Research

Deckers Brands: Will Its Strategic Investments in SG&A And Brand Awareness Help in Sustainable Growth?

Deckers Brands recently reported its financial performance for the fourth quarter and the fiscal year 2025. The company showcased robust growth...

Baptista Research

Deckers Outdoor: Ugg’s Profit Machine and Hoka’s Expansion—What Investors Need to Know!

Deckers Brands delivered a robust performance in its third quarter of fiscal 2025, signaling both high levels of growth and notable...

Baptista Research

S&P 500/400/600 Index Rebal - It's Not The Trade You Think

​The S&P DJI Index Committee announced the March index rebals. Everybody is looking at SMCI because it has run hard til now. That's missing the...

Travis Lundy

S&P500 Index Rebalance: SPCY Additions & Large Impact

There are bunch of adds, deletes and migrations for the SnP 500/400/600 indices in March. The largest inflows are on the SP500 adds but the largest...

Brian Freitas

The S&P DJI Index Committee announced the March index rebals. Everybody is looking at SMCI because it has run hard til now. That's missing the...