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>Encompass Health Corporation reported solid operational and financial results for the first quarter of 2026, highlighted by a 9% increase in revenue to $1.59 billion and an 11.2% rise in adjusted EBITDA to $348.8 million.</li>
<li>The company attributed the revenue growth to both a 4.3% increase in patient discharges and a 3.7% rise in net revenue per discharge, benefiting partially from patient mix and a favorable Medicare SSI adjustment.</li>
<li>Despite closing four rehabilitation units that impacted discharge growth by approximately 85 basis points, Encompass Health noted that these closures were breakeven from an EBITDA standpoint and expected consolidation efforts, coupled with additional bed expansions, to mitigate volume effects.</li>
</ul>


Encompass Health Corporation reported solid operational and financial results for the first quarter of 2026, highlighted by a 9% increase in revenue to $1.59 billion and an 11.2% rise in adjusted EBITDA to $348.8 million.
The company attributed the revenue growth to both a 4.3% increase in patient discharges and a 3.7% rise in net revenue per discharge, benefiting partially from patient mix and a favorable Medicare SSI adjustment.
Despite closing four rehabilitation units that impacted discharge growth by approximately 85 basis points, Encompass Health noted that these closures were breakeven from an EBITDA standpoint and expected consolidation efforts, coupled with additional bed expansions, to mitigate volume effects.


EHC US: Can Hospital Expansions and Reimbursement Tailwinds Sustain the Momentum?

<ul>
<li>Encompass Health, a major player in providing rehabilitation services, presented a mixed yet largely promising picture in its fourth-quarter earnings call for 2025.</li>
<li>The company's robust performance this year rooted in a 10.5% increase in annual revenue alongside a notable 14.9% growth in EBITDA, showcases impressive financial management and operational growth.</li>
<li>Encompass Health's strategic actions have significantly helped in improving patient outcomes, thereby enhancing their market position.</li>
</ul>


Encompass Health, a major player in providing rehabilitation services, presented a mixed yet largely promising picture in its fourth-quarter earnings call for 2025.
The company's robust performance this year rooted in a 10.5% increase in annual revenue alongside a notable 14.9% growth in EBITDA, showcases impressive financial management and operational growth.
Encompass Health's strategic actions have significantly helped in improving patient outcomes, thereby enhancing their market position.


<ul>
<li>Encompass Health Corporation reported strong financial performance for the second quarter of 2025, underpinned by a 12% increase in revenue to $1.46 billion and a 17.2% rise in adjusted EBITDA to $308.6 million.</li>
<li>This robust growth was driven by a 7.2% increase in total discharges and a 4.2% rise in net revenue per discharge, notably supported by the reduced bad debt expense.</li>
<li>Additionally, the quarter saw enhanced patient intake and discharge metrics, with strong growth reported in neurological conditions and stroke treatments, areas where Encompass Health holds noticeable clinical expertise.</li>
</ul>


Encompass Health Corporation reported strong financial performance for the second quarter of 2025, underpinned by a 12% increase in revenue to $1.46 billion and a 17.2% rise in adjusted EBITDA to $308.6 million.
This robust growth was driven by a 7.2% increase in total discharges and a 4.2% rise in net revenue per discharge, notably supported by the reduced bad debt expense.
Additionally, the quarter saw enhanced patient intake and discharge metrics, with strong growth reported in neurological conditions and stroke treatments, areas where Encompass Health holds noticeable clinical expertise.


Encompass Health: Use of Technology & Predictive Analytics...

<ul>
<li>Encompass Health Corporation concluded its fourth quarter of 2024 with a robust financial performance, emphasizing strategic growth and improved patient care metrics.</li>
<li>The company reported a 12.7% increase in revenue for the quarter, reaching $1.4 billion, alongside a 13.6% rise in adjusted EBITDA to $289.6 million.</li>
<li>Key metrics contributing to this growth were the 7.8% increase in discharges and a 4.2% rise in net revenue per discharge.</li>
</ul>


Encompass Health Corporation concluded its fourth quarter of 2024 with a robust financial performance, emphasizing strategic growth and improved patient care metrics.
The company reported a 12.7% increase in revenue for the quarter, reaching $1.4 billion, alongside a 13.6% rise in adjusted EBITDA to $289.6 million.
Key metrics contributing to this growth were the 7.8% increase in discharges and a 4.2% rise in net revenue per discharge.


Encompass Health Corporation: An Insight Into Its Strategic Construction

<ul>
<li>Encompass Health reported a solid third quarter 2024, marked by notable increases in key financial metrics.</li>
<li>The company experienced an 11.9% rise in revenue to $1.35 billion and a 13.4% increase in adjusted EBITDA to $269.3 million.</li>
<li>The total discharges grew by 8.8%, with same-store discharges up by 6.8%.</li>
</ul>


Encompass Health reported a solid third quarter 2024, marked by notable increases in key financial metrics.
The company experienced an 11.9% rise in revenue to $1.35 billion and a 13.4% increase in adjusted EBITDA to $269.3 million.
The total discharges grew by 8.8%, with same-store discharges up by 6.8%.


How Encompass Health Is Fast-Tracking Growth with Game-Changing Hospital Construction!

United States

Encompass Health Corporation provides inpatient rehabilitative healthcare services.  The Company operates inpatient rehabilitation hospitals, outpatient and rehabilitation satellites, and home health agencies. Encompass Health provides treatment on both an inpatient and outpatient basis.

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Encompass Health (EHC US)

EHC US: Can Hospital Expansions and Reimbursement Tailwinds Sustain the Momentum?

The company attributed the revenue growth to both a 4.3% increase in patient discharges and a 3.7% rise in net revenue per discharge, benefiting...

Baptista Research

Encompass Health: De Novo Domination

Encompass Health, a major player in providing rehabilitation services, presented a mixed yet largely promising picture in its fourth-quarter...

Baptista Research

Encompass Health: Use of Technology & Predictive Analytics...

This robust growth was driven by a 7.2% increase in total discharges and a 4.2% rise in net revenue per discharge, notably supported by the reduced...

Baptista Research

Encompass Health Corporation: An Insight Into Its Strategic Construction

Encompass Health Corporation concluded its fourth quarter of 2024 with a robust financial performance, emphasizing strategic growth and improved...

Baptista Research

How Encompass Health Is Fast-Tracking Growth with Game-Changing Hospital Construction!

The company experienced an 11.9% rise in revenue to $1.35 billion and a 13.4% increase in adjusted EBITDA to $269.3 million.The total discharges...

Baptista Research

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