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

Event-Driven

<ul><li>Comcast plans to spin off its cable networks business in early 2026, with regular-way trading expected to begin on January 6, 2026.</li><li>Versant generates meaningful adjusted EBITDA and free cash flow.</li><li>However, despite the cash generation, it is difficult to build conviction in the equity story.</li></ul>

Comcast plans to spin off its cable networks business in early 2026, with regular-way trading expected to begin on January 6, 2026.Versant generates meaningful adjusted EBITDA and free cash flow.However, despite the cash generation, it is difficult to build conviction in the equity story.

Comcast Spin-off (Versant) Spin-off Deep Dive

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>Fox Corporation demonstrated a robust performance in its fiscal fourth quarter and full year 2025, underscoring both operational strength and substantial growth across its diverse media portfolio.</li><li>Over the fiscal year, Fox reported a 17% increase in total revenue, reaching $16 billion, alongside a remarkable 26% growth in EBITDA to $3.6 billion.</li><li>The company also achieved a 39% climb in adjusted EPS and doubled its free cash flow to $3 billion.</li></ul>

Fox Corporation demonstrated a robust performance in its fiscal fourth quarter and full year 2025, underscoring both operational strength and substantial growth across its diverse media portfolio.Over the fiscal year, Fox reported a 17% increase in total revenue, reaching $16 billion, alongside a remarkable 26% growth in EBITDA to $3.6 billion.The company also achieved a 39% climb in adjusted EPS and doubled its free cash flow to $3 billion.

Fox Corporation: Powering Ahead with Sports, News, & Streaming Growth Engines!

<ul><li>Fox Factory Holding Corp. reported its first-quarter 2025 financial results, highlighting a mixed performance amid challenging market conditions.</li><li>The company posted net sales of $355 million, representing a 6.5% increase compared to the same quarter last year.</li><li>Adjusted earnings per share stood at $0.23, aligning with expectations.</li></ul>

Fox Factory Holding Corp. reported its first-quarter 2025 financial results, highlighting a mixed performance amid challenging market conditions.The company posted net sales of $355 million, representing a 6.5% increase compared to the same quarter last year.Adjusted earnings per share stood at $0.23, aligning with expectations.

Fox Factory Holding Corporation Slashes Costs with $25 Million Efficiency Push—Is It Enough?

<ul><li>Fox Corporation's third-quarter fiscal 2025 results highlighted a mixture of positive growth metrics and some cautionary notes due to expenditure increases.</li><li>Advertising revenue surged by an impressive 65% compared to the previous year, primarily driven by the Super Bowl, which generated over $800 million in advertising revenue, setting records for both the national broadcast network and local TV stations.</li><li>This major sports event resulted in the most-watched telecast in U.S. history on Fox platforms.</li></ul>

Fox Corporation's third-quarter fiscal 2025 results highlighted a mixture of positive growth metrics and some cautionary notes due to expenditure increases.Advertising revenue surged by an impressive 65% compared to the previous year, primarily driven by the Super Bowl, which generated over $800 million in advertising revenue, setting records for both the national broadcast network and local TV stations.This major sports event resulted in the most-watched telecast in U.S. history on Fox platforms.

FOX Corporation: Can Its Direct-to-Consumer Strategy with FOX 1 Truly Up Their Game?

<ul><li>Fox Factory Holding Corp.'s latest financial performance reflects a mixed outlook influenced by specific internal optimizations and broader market challenges.</li><li>The company posted a modest 6.1% increase in net sales for Q4 FY 2024, reaching $352.8 million, which is primarily attributable to the acquisition of Marucci and some growth in its bike segment.</li><li>However, this growth is juxtaposed against the backdrop of contraction in other areas, notably the Aftermarket Applications Group (AAG) and Powered Vehicle Group (PVG), reflecting ongoing pressures in the original equipment manufacturer (OEM) landscape.</li></ul>

Fox Factory Holding Corp.'s latest financial performance reflects a mixed outlook influenced by specific internal optimizations and broader market challenges.The company posted a modest 6.1% increase in net sales for Q4 FY 2024, reaching $352.8 million, which is primarily attributable to the acquisition of Marucci and some growth in its bike segment.However, this growth is juxtaposed against the backdrop of contraction in other areas, notably the Aftermarket Applications Group (AAG) and Powered Vehicle Group (PVG), reflecting ongoing pressures in the original equipment manufacturer (OEM) landscape.

Fox Factory Holding Corporation Expands Upfitting Business & Dealership Network—Why This Dealer Push Is A VERY POSITIVE SIGNAL!

United States

Fox Corporation operates as an entertainment company. The Company produces and licenses news, sports, and entertainment content for distribution through cable television systems, direct broadcast satellite operators, telecommunications companies, and online video distributors. Fox also manages broadcast studios, theaters, editing bays, sound stages, and other production facilities.

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Fox (FOXA US)

Comcast Spin-off (Versant) Spin-off Deep Dive

Comcast plans to spin off its cable networks business in early 2026, with regular-way trading expected to begin on January 6, 2026.

Richard Howe

Fox Corporation: Powering Ahead with Sports, News, & Streaming Growth Engines!

Fox Corporation demonstrated a robust performance in its fiscal fourth quarter and full year 2025, underscoring both operational strength and...

Baptista Research

Fox Factory Holding Corporation Slashes Costs with $25 Million Efficiency Push—Is It Enough?

Fox Factory Holding Corp. reported its first-quarter 2025 financial results, highlighting a mixed performance amid challenging market...

Baptista Research

FOX Corporation: Can Its Direct-to-Consumer Strategy with FOX 1 Truly Up Their Game?

Fox Corporation's third-quarter fiscal 2025 results highlighted a mixture of positive growth metrics and some cautionary notes due to expenditure...

Baptista Research

Fox Factory Holding Corporation Expands Upfitting Business & Dealership Network—Why This Dealer Push Is A VERY POSITIVE SIGNAL!

Fox Factory Holding Corp.'s latest financial performance reflects a mixed outlook influenced by specific internal optimizations and broader market...

Baptista Research

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