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>Domino's Pizza provided a comprehensive summary of its full-year 2025 results and discussed future expectations during its fourth-quarter earnings call.</li><li>The company emphasized its ongoing strategy dubbed "Hungry for MORE," which focuses on enhancing four key pillars: delicious food, operational excellence, renowned value, and more efficient marketing.</li><li>Chief Executive Officer Russell Weiner and Chief Financial Officer Sandeep Reddy articulated both successes from the past year and their future growth strategy against a backdrop of industry challenges and competitive pressures.</li></ul>

Domino's Pizza provided a comprehensive summary of its full-year 2025 results and discussed future expectations during its fourth-quarter earnings call.The company emphasized its ongoing strategy dubbed "Hungry for MORE," which focuses on enhancing four key pillars: delicious food, operational excellence, renowned value, and more efficient marketing.Chief Executive Officer Russell Weiner and Chief Financial Officer Sandeep Reddy articulated both successes from the past year and their future growth strategy against a backdrop of industry challenges and competitive pressures.

Domino’s Pizza: DoorDash and Uber Eats Open a New Incremental Demand Channel!

<ul><li>Domino's Pizza, Inc. reported its financial results for the third quarter of 2025, marked by strategic growth and various initiatives under its "Hungry for MORE" strategy.</li><li>The company experienced significant growth in its U.S. market across several key performance areas, including carryout, delivery, and order count, ultimately resulting in increased market share.</li><li>The results were bolstered by several key promotions, particularly the "Best Deal Ever," which was a cornerstone of Domino’s success during the quarter.</li></ul>

Domino's Pizza, Inc. reported its financial results for the third quarter of 2025, marked by strategic growth and various initiatives under its "Hungry for MORE" strategy.The company experienced significant growth in its U.S. market across several key performance areas, including carryout, delivery, and order count, ultimately resulting in increased market share.The results were bolstered by several key promotions, particularly the "Best Deal Ever," which was a cornerstone of Domino’s success during the quarter.

Domino's Pizza: Strategic U.S. & International Expansion to Diversify Risk While Tapping Into High-Growth Areas!

Writing about Companies with an Unfair Advantage, Unfair Advantage

Unfair Advantage

Writing about Companies with an Unfair Advantage

I write about companies that have an unfair advantage. I might invest in them as well.

<ul><li>Nick Sleep is an investor who belongs in the Hall of Fame. 21% annualized returns over 13 years. He started buying cheap businesses.</li><li>Over time, he reached a harder and more useful conclusion: buy a great business, then let it work for years.</li><li>That is why I am on the hunt to find businesses I never have to sell.</li></ul>

Nick Sleep is an investor who belongs in the Hall of Fame. 21% annualized returns over 13 years. He started buying cheap businesses.Over time, he reached a harder and more useful conclusion: buy a great business, then let it work for years.That is why I am on the hunt to find businesses I never have to sell.

Costco Model Hidden Inside Wise, Domino’s and Floor & Decor

Independent Research, US Dominant Players, Investment Talk

Investment Talk

Independent Research, US Dominant Players

Investment Talk is for readers who wish to learn about companies that are potentially outside of their own circle of research, as well as those who are longing to become part of a community of like-minded investors and learn more about investment research. I would describe myself as a long-term investor who typically takes a 3Y to 5Y outlook, before reassessing once that period matures. I follow the adage that one should research, reach a conclusion, and then verify and continue to hold so long as the thesis remains intact. My own investing style is one that seeks to find dominant players within their respective market who have shown signs of monopoly or oligopolistic behaviour, unlikely to be disrupted, in tandem with discovering market disruptors who have a high likelihood of disrupting their respective market. Equally (and weighted accordingly) I seek to discover more nuanced, misunderstood, situations with a shorter time frame.

Thematic (Sector/Industry)

<ul><li>A while ago I wrote a piece about share cannibals and where to find them. Since we introduced the ability to screen for share cannibals at Koyfin (the screener I use, if interested) I have been exploring aggressive share repurchasers more often.</li><li>Evident to me, is the disparity in attitudes towards share repurchases between US and European stocks.</li><li>When casting a wide geographical net in the screener and searching for the loftiest reduction in share count (as a %), the US companies proliferate the output.</li></ul>

A while ago I wrote a piece about share cannibals and where to find them. Since we introduced the ability to screen for share cannibals at Koyfin (the screener I use, if interested) I have been exploring aggressive share repurchasers more often.Evident to me, is the disparity in attitudes towards share repurchases between US and European stocks.When casting a wide geographical net in the screener and searching for the loftiest reduction in share count (as a %), the US companies proliferate the output.

Companies That are Fixated on Buying Back Stock

Podcast hosted by Hedgeye CEO Keith McCullough, Real Conversations

Real Conversations

Podcast hosted by Hedgeye CEO Keith McCullough

Hedgeye is an investment research and financial media company founded in 2008. Our core principles are transparency, accountability and trust. Hedgeye’s Real Conversations series, hosted by CEO Keith McCullough, brings together the brightest minds in the business to cut through the noise and discuss the financial market moves that actually matter.LEGALThe opinions expressed in Hedgeye Real Conversations are those of the individual speaking and not of Hedgeye, and should not be construed as specific investment advice. Hedgeye® is a registered trademark. All Hedegye Real Conversations are the intellectual property of Hedgeye. All rights reserved.

Cross Asset Strategy

<ul><li>Russell was down almost a full percent last week, but consumer staples, MLPS, and shipping performed well</li><li>Domino's reported slightly lower earnings and showed signs of global headwinds, momentum slowing</li><li>China looks like a good long bias opportunity for the second half of 2024, while consumer staples are poorly positioned for reaccelerating inflation</li></ul><p><em>This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.</em></p>

Russell was down almost a full percent last week, but consumer staples, MLPS, and shipping performed wellDomino's reported slightly lower earnings and showed signs of global headwinds, momentum slowingChina looks like a good long bias opportunity for the second half of 2024, while consumer staples are poorly positioned for reaccelerating inflationThis content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.

United States

Domino's Pizza, Inc. operates a network of Company-owned and franchise Domino's Pizza stores, located throughout the United States and in other countries.  The Company also operates regional dough manufacturing and distribution centers in the contiguous United States and outside the United States.

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Domino's Pizza (DPZ US)

Domino’s Pizza: DoorDash and Uber Eats Open a New Incremental Demand Channel!

Domino's Pizza provided a comprehensive summary of its full-year 2025 results and discussed future expectations during its fourth-quarter earnings...

Baptista Research

Domino's Pizza: Strategic U.S. & International Expansion to Diversify Risk While Tapping Into High-Growth Areas!

Domino's Pizza, Inc. reported its financial results for the third quarter of 2025, marked by strategic growth and various initiatives under its...

Baptista Research

Costco Model Hidden Inside Wise, Domino’s and Floor & Decor

Nick Sleep is an investor who belongs in the Hall of Fame. 21% annualized returns over 13 years. He started buying cheap businesses.

Unfair Advantage

Companies That are Fixated on Buying Back Stock

Since we introduced the ability to screen for share cannibals at Koyfin (the screener I use, if interested) I have been exploring aggressive share...

Investment Talk

The Call @ Hedgeye | February 26, 2024

Last week saw a mixed market with Russell down almost 1%, consumer staples and MLPs performing well, Howard's cannabis MSOs showing strength,...

Real Conversations

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