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>DuPont recently reported its third-quarter financial results for 2025, reflecting a solid performance with both positives and challenges.</li><li>The company's net sales rose to $3.1 billion, marking a 6% growth on an organic basis compared to the previous year.</li><li>This growth was driven largely by volume increases across the board, particularly within its Healthcare & Water and Electronics segments, which saw significant demand influenced by advancements in AI technology.</li></ul>

DuPont recently reported its third-quarter financial results for 2025, reflecting a solid performance with both positives and challenges.The company's net sales rose to $3.1 billion, marking a 6% growth on an organic basis compared to the previous year.This growth was driven largely by volume increases across the board, particularly within its Healthcare & Water and Electronics segments, which saw significant demand influenced by advancements in AI technology.

DuPont: A Closer Look Into Its Water Business Surge

Founder, CEO, GSBR Research

Garvit Bhandari

Founder, CEO

Leading Provider of Equity and Investment Research

GSBR Research

We are an independent equity research provider focused on covering global markets. The aim of the research is to provide an unbiased view of the fundamentals of the company.

Event-Driven

<ul>
<li>On November 1, 2025, DuPont (NYSE: DD) completed the separation of its Electronics business as Qnity Electronics, Inc. (NYSE: Q), into a separate public company.</li>
<li>Regular-Way trading commenced on November 3, 2025.DD gained 2.97%, while Q lost -1.02% on the first day of regular way trading.</li>
<li>On an overall basis, DD (consolidated) gained 5.91% since the spin-off announcement on May 22, 2024, underperforming S&amp;P 500 which gained 29.1% during the same period.</li>
</ul>


On November 1, 2025, DuPont (NYSE: DD) completed the separation of its Electronics business as Qnity Electronics, Inc. (NYSE: Q), into a separate public company.
Regular-Way trading commenced on November 3, 2025.DD gained 2.97%, while Q lost -1.02% on the first day of regular way trading.
On an overall basis, DD (consolidated) gained 5.91% since the spin-off announcement on May 22, 2024, underperforming S&amp;P 500 which gained 29.1% during the same period.


DuPont Completes the Spin-Off of Qnity Electronics Inc.; Regular Way Trading Commences

Founder at Stock Spin-off Investing, Stock Spin-Off Investing

Richard Howe

Founder at Stock Spin-off Investing

Stock Spin-Off Investing

Generate attractive returns by taking advantage of inefficiencies in the stock spin-off market.

Stock Spin-offs

<ul><li><p>Dupont (DD) spin off its electronics business, Qnity (Q), early this week.</p></li><li><p>DQnity will be one of the world’s largest pure-play electronic materials companies, with a portfolio spanning semiconductor fabrication materials and advanced electronics/interconnect solutions.</p></li><li>Qnity’s Semiconductor Technologies division creates consumable products that are used during semiconductor manufacturing.</li></ul>

Dupont (DD) spin off its electronics business, Qnity (Q), early this week.DQnity will be one of the world’s largest pure-play electronic materials companies, with a portfolio spanning semiconductor fabrication materials and advanced electronics/interconnect solutions.Qnity’s Semiconductor Technologies division creates consumable products that are used during semiconductor manufacturing.

Weekly Update (Q, IAC, ANGI, LION, SNREY)

<ul>
<li>DuPont will separate its Electronics unit as Qnity Electronics Inc. on Nov 1, 2025, creating two focused platforms - a high-growth semiconductor materials business and a steadier diverfied industrial company</li>
<li>Qnity launches with ~$4.3B sales, ~29% margins, strong semiconductor exposure but higher leverage and cyclicality</li>
<li>We value Qnity at $106/share (17.2× FY26E EBITDA) and DuPont (ex-Qnity) at $47.5/share (13.0× FY26E EBITDA).</li>
</ul>


DuPont will separate its Electronics unit as Qnity Electronics Inc. on Nov 1, 2025, creating two focused platforms - a high-growth semiconductor materials business and a steadier diverfied industrial company
Qnity launches with ~$4.3B sales, ~29% margins, strong semiconductor exposure but higher leverage and cyclicality
We value Qnity at $106/share (17.2× FY26E EBITDA) and DuPont (ex-Qnity) at $47.5/share (13.0× FY26E EBITDA).


DuPont De Nemours, Inc. (NYSE: DD) To Separate Its Electronics Business on Nov 1

<ul><li>DuPont de Nemours has officially approved the spin-off of its electronics business into a new publicly traded entity, Qnity Electronics.</li><li>This strategic separation, effective November 1, 2025, marks a major milestone in DuPont’s multi-year transformation focused on streamlining its portfolio around core industrial and specialty materials.</li><li>The move comes as Qnity positions itself as a pure-play technology solutions provider in the semiconductor and electronics value chain, targeting booming AI and advanced computing markets.</li></ul>

DuPont de Nemours has officially approved the spin-off of its electronics business into a new publicly traded entity, Qnity Electronics.This strategic separation, effective November 1, 2025, marks a major milestone in DuPont’s multi-year transformation focused on streamlining its portfolio around core industrial and specialty materials.The move comes as Qnity positions itself as a pure-play technology solutions provider in the semiconductor and electronics value chain, targeting booming AI and advanced computing markets.

DuPont Spins Off Qnity Electronics In $4 Billion Shake-Up — What Investors Must Know!

United States

DuPont de Nemours, Inc. operates as a chemical company. The Company offers elastomeric photopolymer printing plates, structural and elastic adhesives, fluids, reinforcing composites, foams, coatings, rubber and elastomers, topical ingredients, food ingredients, animal nutrition, biomaterials, water purification technologies, and fibers.

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DuPont (DD US)

DuPont: A Closer Look Into Its Water Business Surge

DuPont recently reported its third-quarter financial results for 2025, reflecting a solid performance with both positives and challenges. The...

Baptista Research

DuPont Completes the Spin-Off of Qnity Electronics Inc.; Regular Way Trading Commences

DuPont (DD) shares have jumped 21% since the regular way trading began on November 3, 2025. We had a bullish view on DD compared to its spin-off...

GSBR Research

Weekly Update (Q, IAC, ANGI, LION, SNREY)

Dupont (DD) spin off its electronics business, Qnity (Q), early this week. DQnity will be one of the world’s largest pure-play electronic materials...

Richard Howe

DuPont De Nemours, Inc. (NYSE: DD) To Separate Its Electronics Business on Nov 1

DuPont to spin-off Electronics unit into Qnity Electronics Inc. on Nov 1, 2025, creating two focused platforms - high-growth semiconductor...

GSBR Research

DuPont Spins Off Qnity Electronics In $4 Billion Shake-Up — What Investors Must Know!

DuPont de Nemours has officially approved the spin-off of its electronics business into a new publicly traded entity, Qnity Electronics. This...

Baptista Research

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

DuPont: A Closer Look Into Its Water Business Surge

DuPont recently reported its third-quarter financial results for 2025, reflecting a solid performance with both positives and challenges. The...

Baptista Research

DuPont Completes the Spin-Off of Qnity Electronics Inc.; Regular Way Trading Commences

DuPont (DD) shares have jumped 21% since the regular way trading began on November 3, 2025. We had a bullish view on DD compared to its spin-off...

GSBR Research

Weekly Update (Q, IAC, ANGI, LION, SNREY)

Dupont (DD) spin off its electronics business, Qnity (Q), early this week. DQnity will be one of the world’s largest pure-play electronic materials...

Richard Howe

DuPont De Nemours, Inc. (NYSE: DD) To Separate Its Electronics Business on Nov 1

​DuPont to spin-off Electronics unit into Qnity Electronics Inc. on Nov 1, 2025, creating two focused platforms - high-growth semiconductor...

GSBR Research

DuPont Spins Off Qnity Electronics In $4 Billion Shake-Up — What Investors Must Know!

DuPont de Nemours has officially approved the spin-off of its electronics business into a new publicly traded entity, Qnity Electronics. This...

Baptista Research

DuPont to spin-off Electronics unit into Qnity Electronics Inc. on Nov 1, 2025, creating two focused platforms - high-growth semiconductor...