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 faced a mixed financial performance in the fourth quarter of 2024, with weaker-than-expected earnings leading to a stock decline, despite ongoing efforts to enhance value and operational efficiency.</li><li>The company’s total revenue increased by 2.9% year-over-year to $1.44 billion but fell short of the $1.48 billion analyst consensus.</li><li>Earnings per share rose by 9.2% to $4.89, just below Wall Street’s expectation of $4.90.</li></ul>

Domino’s Pizza faced a mixed financial performance in the fourth quarter of 2024, with weaker-than-expected earnings leading to a stock decline, despite ongoing efforts to enhance value and operational efficiency.The company’s total revenue increased by 2.9% year-over-year to $1.44 billion but fell short of the $1.48 billion analyst consensus.Earnings per share rose by 9.2% to $4.89, just below Wall Street’s expectation of $4.90.

Domino's Pizza: Expanding Aggregator Platforms to Contribute To Top-Line Growth Significantly!

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.

Event-Driven

<ul>
<li>
<a href="https://www.smartkarma.com/entities/guzman-y-gomez-limited" target="_blank" data-smartkarma-citation="entities:43656:1" rel="noopener">Guzman Y Gomez (GYG AU)</a> raised around US$221m in its Australian IPO. Its IPO linked partial lockup expiry is due soon.</li>
<li>GYG is a quick service restaurant business with more than 200 restaurants globally. It mainly focuses on fresh, made-to-order, Mexican-inspired food.</li>
<li>In this note, we will talk about the lockup dynamics and possible placement.</li>
</ul>



Guzman Y Gomez (GYG AU) raised around US$221m in its Australian IPO. Its IPO linked partial lockup expiry is due soon.
GYG is a quick service restaurant business with more than 200 restaurants globally. It mainly focuses on fresh, made-to-order, Mexican-inspired food.
In this note, we will talk about the lockup dynamics and possible placement.


Guzman IPO Lockup - Pop Done, Correction Ongoing, Now Time for the Lockup

<ul><li>The recent earnings call for Domino’s Pizza highlighted several key aspects of its financial performance, strategic initiatives, and market dynamics, revealing both promising areas and challenges.</li><li>The company’s Hungry for MORE strategy appears to be yielding positive results domestically, but international markets face significant hurdles.</li><li>Domestically, Domino’s Pizza has successfully leveraged its value-focused Hungry for MORE strategy.</li></ul>

The recent earnings call for Domino’s Pizza highlighted several key aspects of its financial performance, strategic initiatives, and market dynamics, revealing both promising areas and challenges.The company’s Hungry for MORE strategy appears to be yielding positive results domestically, but international markets face significant hurdles.Domestically, Domino’s Pizza has successfully leveraged its value-focused Hungry for MORE strategy.

Warren Buffett’s Domino’s Pizza Deal: The Possible Strategy Behind The Recent $550 Million Investment! - Major Drivers

Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/bundl-technologies-private-limited-swiggy" target="_blank" data-smartkarma-citation="entities:35630:1" rel="noopener">Swiggy</a> Limited raised around US$1.35bn in its India IPO, although the demand wasn't great.</li>
<li>Swiggy Limited is a business to commerce (B2C) marketplace company offering users a platform for ordering grocery and household items (Instamart) and food delivery, through its on-demand delivery network.</li>
<li>In our previous notes, we looked at the company’s past performance and valuations. In this note, we will talk about the trading dynamics.</li>
</ul>



Swiggy Limited raised around US$1.35bn in its India IPO, although the demand wasn't great.
Swiggy Limited is a business to commerce (B2C) marketplace company offering users a platform for ordering grocery and household items (Instamart) and food delivery, through its on-demand delivery network.
In our previous notes, we looked at the company’s past performance and valuations. In this note, we will talk about the trading dynamics.


Swiggy IPO Trading - Decent Anchor but Tepid Overall Demand

<ul>
<li>
<a href="https://www.smartkarma.com/entities/bundl-technologies-private-limited-swiggy" target="_blank" data-smartkarma-citation="entities:35630:1" rel="noopener">Swiggy</a> is looking to raise around US$1.35bn in its India IPO.</li>
<li>Swiggy Limited (Swiggy) is a business to commerce (B2C) marketplace company offering users a platform for ordering grocery and household items (Instamart) and food delivery, through its on-demand delivery network.</li>
<li>In our previous notes, we looked at the company’s past performance. In this note, we will talk about valuations.</li>
</ul>



Swiggy is looking to raise around US$1.35bn in its India IPO.
Swiggy Limited (Swiggy) is a business to commerce (B2C) marketplace company offering users a platform for ordering grocery and household items (Instamart) and food delivery, through its on-demand delivery network.
In our previous notes, we looked at the company’s past performance. In this note, we will talk about valuations.


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: Expanding Aggregator Platforms to Contribute To Top-Line Growth Significantly!

Domino’s Pizza faced a mixed financial performance in the fourth quarter of 2024, with weaker-than-expected earnings leading to a stock decline,...

Baptista Research

Guzman IPO Lockup - Pop Done, Correction Ongoing, Now Time for the Lockup

Guzman Y Gomez (GYG AU) raised around US$221m in its Australian IPO. Its IPO linked partial lockup expiry is due soon, if they stock manages to...

Sumeet Singh

Warren Buffett’s Domino’s Pizza Deal: The Possible Strategy Behind The Recent $550 Million Investment! - Major Drivers

The recent earnings call for Domino’s Pizza highlighted several key aspects of its financial performance, strategic initiatives, and market...

Baptista Research

Swiggy IPO Trading - Decent Anchor but Tepid Overall Demand

Swiggy Limited raised around US$1.35bn in its India IPO, although the demand wasn't great with only instis having some interest in the listing.

Sumeet Singh

Swiggy IPO - Not as Cheap as It Looks

Swiggy is looking to raise around US$1.35bn in its India IPO. We have looked at its past performance earlier. In this note, we talk about valuations.

Sumeet Singh

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