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>Dover Corporation reported a positive start to 2025, showcasing a promising first quarter with notable financial performance.</li><li>The company's adjusted earnings per share rose by 19% compared to the previous year, and the adjusted EBITDA margin improved by 240 basis points to reach 24%.</li><li>These results were achieved through a healthy mix of growth platforms, structural cost actions from prior periods, and successful pricing strategies.</li></ul>

Dover Corporation reported a positive start to 2025, showcasing a promising first quarter with notable financial performance.The company's adjusted earnings per share rose by 19% compared to the previous year, and the adjusted EBITDA margin improved by 240 basis points to reach 24%.These results were achieved through a healthy mix of growth platforms, structural cost actions from prior periods, and successful pricing strategies.

Dover Corporation’s Inventory Gamble: Genius Move Or Costly Misstep In A Volatile Market?

<ul><li>Dover's second quarter 2024 results showcased robust performance with key positives reflected in revenue growth and strategic enhancements through acquisitions and divestitures.</li><li>Richard J.</li><li>Tobin, President and CEO, detailed how Dover achieved a 5% increase in organic revenue, propelled by substantial market demand across diverse sectors, including engineered products, clean energy components, and imaging and identification technologies.</li></ul>

Dover's second quarter 2024 results showcased robust performance with key positives reflected in revenue growth and strategic enhancements through acquisitions and divestitures.Richard J.Tobin, President and CEO, detailed how Dover achieved a 5% increase in organic revenue, propelled by substantial market demand across diverse sectors, including engineered products, clean energy components, and imaging and identification technologies.

Dover Corporation: The 3 Biggest Challenges That Bears Are Rooting For! - Financial Forecasts

Equity Long-Short Analyst

Pyari Menon

<ul>
<li>With its <a href="https://www.smartkarma.com/entities/danaher-corp" target="_blank" data-smartkarma-citation="entities:8243:1" rel="noopener">Danaher Corp (DHR US)</a> heritage, <a href="https://www.smartkarma.com/entities/veralto-corp" target="_blank" data-smartkarma-citation="entities:40472:1" rel="noopener">Veralto (VLTO US)</a> has built a foundation based on durable and recurring sales growth, high profitability, and strong cash generation.</li>
<li>Veralto's products and services are mission-critical yet account for less than 1% of client costs, leading to high switching costs and ensuring customer retention and financial resilience through economic cycles.</li>
<li>Veralto holds market leadership in both its Water Quality (WQ) and Product Quality &amp; Innovation (PQI) segments, which positions it well for the increasing regulatory and environmental demands. .</li>
</ul>


With its Danaher Corp (DHR US) heritage, Veralto (VLTO US) has built a foundation based on durable and recurring sales growth, high profitability, and strong cash generation.
Veralto's products and services are mission-critical yet account for less than 1% of client costs, leading to high switching costs and ensuring customer retention and financial resilience through economic cycles.
Veralto holds market leadership in both its Water Quality (WQ) and Product Quality &amp; Innovation (PQI) segments, which positions it well for the increasing regulatory and environmental demands. .


Veralto: The Power of Customer Dependency and Recurring Revenue

<ul><li>In the first quarter 2024 earnings, Dover Corporation showed promising results.</li><li>The quarter's results were consistent with expectations, despite initial concerns that it might be the most challenging quarter.</li><li>Counter cyclical portfolios were offset by a strong performance in end markets along with improving order and shipment trends in biopharma components and growth platforms.</li></ul>

In the first quarter 2024 earnings, Dover Corporation showed promising results.The quarter's results were consistent with expectations, despite initial concerns that it might be the most challenging quarter.Counter cyclical portfolios were offset by a strong performance in end markets along with improving order and shipment trends in biopharma components and growth platforms.

Dover Corporation: Robust Growth in the Data Centers Can Catalyze Their Top-Line Growth? - Major Drivers

<ul><li>Dover Management's Q4 2023 earnings indicated a generally positive company performance in a challenging market context.</li><li>CEO Richard Tobin and CFO Brad Cerepak conveyed a forward looking stance based on Q4's market conditions following on from Q3, focusing on maintaining production levels to balance channel inventories.</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>

Dover Management's Q4 2023 earnings indicated a generally positive company performance in a challenging market context.CEO Richard Tobin and CFO Brad Cerepak conveyed a forward looking stance based on Q4's market conditions following on from Q3, focusing on maintaining production levels to balance channel inventories.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.

Dover Corporation: Delivering Engineered Solutions For Industry Needs & Safety! - Major Drivers

United States

Dover Corporation manufactures industrial products and manufacturing equipments. The Company's products includes printing, identification, marking and coding systems, waste handling, industrial equipments, refrigeration systems, display cases, industrial pumps, fuel dispensers, nozzles, piping, and electronic tank gauge equipments. Dover serves customers worldwide.

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Dover Corp (DOV US)

Dover Corporation’s Inventory Gamble: Genius Move Or Costly Misstep In A Volatile Market?

Dover Corporation reported a positive start to 2025, showcasing a promising first quarter with notable financial performance. The company's...

Baptista Research

Dover Corporation: The 3 Biggest Challenges That Bears Are Rooting For! - Financial Forecasts

Dover's second quarter 2024 results showcased robust performance with key positives reflected in revenue growth and strategic enhancements through...

Baptista Research

Veralto: The Power of Customer Dependency and Recurring Revenue

Veralto's products and services are typically low cost but critical leading to high recurring sales, solid profitability and a leadership position...

Pyari Menon

Dover Corporation: Robust Growth in the Data Centers Can Catalyze Their Top-Line Growth? - Major Drivers

In the first quarter 2024 earnings, Dover Corporation showed promising results. The quarter's results were consistent with expectations, despite...

Baptista Research

Dover Corporation: Delivering Engineered Solutions For Industry Needs & Safety! - Major Drivers

Dover Management's Q4 2023 earnings indicated a generally positive company performance in a challenging market context. CEO Richard Tobin and CFO...

Baptista Research

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