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>Equifax Incorporated reported a strong start to 2026 with first-quarter revenue of $1.649 billion, reflecting a 14% increase year-over-year and exceeding prior guidance by $37 million.</li><li>On an organic, constant currency basis, revenue grew 13%, driven primarily by an impressive 38% increase in U.S. mortgage revenue, which outperformed expectations due to elevated mortgage activity before recent interest rate hikes linked to geopolitical tensions involving Iran.</li><li>Excluding FICO-related revenue, growth was approximately 10%, aligning with the company’s long-term outlook.</li></ul>

Equifax Incorporated reported a strong start to 2026 with first-quarter revenue of $1.649 billion, reflecting a 14% increase year-over-year and exceeding prior guidance by $37 million.On an organic, constant currency basis, revenue grew 13%, driven primarily by an impressive 38% increase in U.S. mortgage revenue, which outperformed expectations due to elevated mortgage activity before recent interest rate hikes linked to geopolitical tensions involving Iran.Excluding FICO-related revenue, growth was approximately 10%, aligning with the company’s long-term outlook.

Equifax: A 38% Mortgage Jump Raises Sustainability Questions?

<ul><li>Equifax Inc. reported solid financial results for the full year 2025 and a strong fourth quarter performance, demonstrating resilience despite headwinds from a weak U.S. mortgage market and a slowing U.S. hiring environment.</li><li>Total revenue for 2025 reached $6.075 billion, reflecting 7% organic growth, which aligns with the company's long-term growth framework of 7% to 10%.</li><li>Earnings per share (EPS) were reported at $7.65, and free cash flow hit $1.13 billion, with a record 120% free cash flow conversion rate, significantly exceeding the company's long-term target of 95%.</li></ul>

Equifax Inc. reported solid financial results for the full year 2025 and a strong fourth quarter performance, demonstrating resilience despite headwinds from a weak U.S. mortgage market and a slowing U.S. hiring environment.Total revenue for 2025 reached $6.075 billion, reflecting 7% organic growth, which aligns with the company's long-term growth framework of 7% to 10%.Earnings per share (EPS) were reported at $7.65, and free cash flow hit $1.13 billion, with a record 120% free cash flow conversion rate, significantly exceeding the company's long-term target of 95%.

Equifax: Walled Gardens, Exclusive Data & VantageScore—What Protects Its Competitive Edge In AI Era?

<ul><li>Equifax Inc.'s results for the third quarter of 2025 reflect a period of robust revenue growth intertwined with complex operational adjustments.</li><li>The company reported a revenue of $1.54 billion, marking a growth of over 7% in both constant currency and reported dollars.</li><li>This performance surpassed the guidance provided in July by $25 million, primarily courtesy of strong performance in U.S. mortgage, Employment & Income Verification (EWS), and U.S. Information Solutions (USIS) non-mortgage sectors.</li></ul>

Equifax Inc.'s results for the third quarter of 2025 reflect a period of robust revenue growth intertwined with complex operational adjustments.The company reported a revenue of $1.54 billion, marking a growth of over 7% in both constant currency and reported dollars.This performance surpassed the guidance provided in July by $25 million, primarily courtesy of strong performance in U.S. mortgage, Employment & Income Verification (EWS), and U.S. Information Solutions (USIS) non-mortgage sectors.

Equifax’s Vault Verify Acquisition: Can It Supercharge TWN & Government Growth?

Equifax: An Insight Into Its VantageScore Adoption, Pricing Strategy & Other Major Drivers!

We aggregate key quotes from earnings, The Transcript

The Transcript

We aggregate key quotes from earnings

Aggregate Key Quotes from Earnings

Macroeconomics

<ul><li>Companies are expecting the Federal Reserve to reduce rates to ease the burden on consumers and boost confidence in markets.</li><li>Inflation is still a concern for many companies, particularly at the high end, but the Fed cannot act until there is substantial data showing a decrease in inflation.</li><li>The lower income consumers are trading down and experiencing financial difficulties, with subprime delinquencies reaching levels similar to 2009, which is concerning for the market. </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>

Companies are expecting the Federal Reserve to reduce rates to ease the burden on consumers and boost confidence in markets.Inflation is still a concern for many companies, particularly at the high end, but the Fed cannot act until there is substantial data showing a decrease in inflation.The lower income consumers are trading down and experiencing financial difficulties, with subprime delinquencies reaching levels similar to 2009, which is concerning for the market. This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.

United States

Equifax Inc. brings buyers and sellers together through its information management, transaction processing, direct marketing, and customer relationship management businesses. The company serves the financial services, retail, credit card, telecommunications/utilities, transportation, information technology and healthcare industries and government.

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Equifax Inc (EFX US)

Equifax: A 38% Mortgage Jump Raises Sustainability Questions?

Equifax Incorporated reported a strong start to 2026 with first-quarter revenue of $1.649 billion, reflecting a 14% increase year-over-year and...

Baptista Research

Equifax: Walled Gardens, Exclusive Data & VantageScore—What Protects Its Competitive Edge In AI Era?

Equifax Inc. reported solid financial results for the full year 2025 and a strong fourth quarter performance, demonstrating resilience despite...

Baptista Research

Equifax’s Vault Verify Acquisition: Can It Supercharge TWN & Government Growth?

Equifax Inc.'s results for the third quarter of 2025 reflect a period of robust revenue growth intertwined with complex operational...

Baptista Research

Equifax: An Insight Into Its VantageScore Adoption, Pricing Strategy & Other Major Drivers!

Equifax Inc.'s results for the third quarter of 2025 reflect a period of robust revenue growth intertwined with complex operational...

Baptista Research

Episode 112: Subprime Signals

Companies are counting on the Federal Reserve to lower interest rates in order to boost consumer confidence and market trends, while inflation...

The Transcript

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