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>Franklin Electric's recent financial performance for the third quarter of 2025 highlights its ability to deliver robust results despite external market challenges.</li>
<li>The company's consolidated sales reached $582 million, marking a 9% increase year-over-year, indicating both strong volume and price growth across their segments.</li>
<li>This growth was further supported by recent acquisitions that significantly contributed to sales.</li>
</ul>


Franklin Electric's recent financial performance for the third quarter of 2025 highlights its ability to deliver robust results despite external market challenges.
The company's consolidated sales reached $582 million, marking a 9% increase year-over-year, indicating both strong volume and price growth across their segments.
This growth was further supported by recent acquisitions that significantly contributed to sales.


Franklin Electric: Is a 26% Surge in Energy Systems Sales Just the Beginning?

<ul>
<li>Franklin Electric delivered a mixed performance for the fourth quarter and full year of 2024 against a backdrop of challenging macroeconomic conditions.</li>
<li>The company reported a modest year-over-year increase of 3% in consolidated sales for the fourth quarter, driven primarily by growth in the Distribution and newly renamed Energy Systems segments, while sales in the Water Systems segment were flat.</li>
<li>Despite achieving higher volumes across segments, the company faced diverse challenges that impacted its overall performance.</li>
</ul>


Franklin Electric delivered a mixed performance for the fourth quarter and full year of 2024 against a backdrop of challenging macroeconomic conditions.
The company reported a modest year-over-year increase of 3% in consolidated sales for the fourth quarter, driven primarily by growth in the Distribution and newly renamed Energy Systems segments, while sales in the Water Systems segment were flat.
Despite achieving higher volumes across segments, the company faced diverse challenges that impacted its overall performance.


Franklin Electric: Will Its Focus on Energy Systems Pay Off?

<ul>
<li>Franklin Electric Co., Inc.'s second quarter 2024 financial results exhibited resilience, albeit with a dip in consolidated sales compared to the previous year.</li>
<li>Navigating adverse macroeconomic elements and widespread wet weather in the U.S., the corporation demonstrated sound operational performance.</li>
<li>However, there were notable variances across different business segments and geographies, contacting both strengths and challenges within its portfolio.</li>
</ul>


Franklin Electric Co., Inc.'s second quarter 2024 financial results exhibited resilience, albeit with a dip in consolidated sales compared to the previous year.
Navigating adverse macroeconomic elements and widespread wet weather in the U.S., the corporation demonstrated sound operational performance.
However, there were notable variances across different business segments and geographies, contacting both strengths and challenges within its portfolio.


Franklin Electric Co. - Increasing Footprint in Fueling Systems & Other Major Drivers

Technical Analyst, Vermilion Research

Joe Jasper

Technical Analyst

Technical and Quantitative Research

Vermilion Research

Vermilion’s objective is to deliver timely, actionable, and unique technical research to professional investors through the application of our various technical indicators.

Our research strategists seek to highlight securities which we believe are at major inflection points, based on our various technical and quantitative indicators, and offer asymmetric risk/return profiles. Our unique research methodology, centered on relative strength, enables our strategists to deliver superior investment recommendations.

Our process begins by organizing the universe of actively traded stocks into discrete sectors, then into industry groups. We then apply our technical and quantitative tools to identify developing price trends. Once attractive trends are identified within a selected sector or group, we screen for individual stocks which we believe offer the best risk/reward profile. We provide a historical perspective that often reveals, through our long-term charts, how price patterns often repeat themselves over time.

Technical Analysis

Dow Jones Industrial Average / Technical Analysis

<ul>
<li>The S&amp;P 500 has marginally surpassed the 4300-4325 area which we have anticipated would cap upside for 2023. </li>
<li>As noted in our 6/6/23 Compass, we are vigilant at these levels given we expect inflation to remain elevated, but we <em><strong>cannot be bearish</strong></em>if the SPX is above 4165-4200</li>
<li>Breadth has continued to improve within the Russell 2000, and the $IWM is approaching our first target of $190 following the breakout above $180. Also see breadth improving within SPX.</li>
</ul>


The S&amp;P 500 has marginally surpassed the 4300-4325 area which we have anticipated would cap upside for 2023. 
As noted in our 6/6/23 Compass, we are vigilant at these levels given we expect inflation to remain elevated, but we cannot be bearishif the SPX is above 4165-4200
Breadth has continued to improve within the Russell 2000, and the $IWM is approaching our first target of $190 following the breakout above $180. Also see breadth improving within SPX.


Dow Testing 1-Year Resistance at 34,280 Ahead of FOMC; Buy Ideas Within Manufacturing/Industrials

NASDAQ Composite Index / Technical Analysis

<ul>
<li>Since January 2023 we've anticipated for 4165-4200 to cap upside on the S&amp;P 500 for 2023, but that a rally to 4300-4325 is also possible; this remains our view.</li>
<li>In our 5/2/23 Compass we discussed how the Nasdaq Composite was testing 12,300 resistance, and that a breakout and reach to 13,180 is possible.</li>
<li>The Nasdaq Composite hit 13,154 Tuesday as Technology (XLK), and to a lesser extent Communications (XLC), are seemingly in a blowoff stage, while all other Sectors are neutral to bearish.</li>
</ul>


Since January 2023 we've anticipated for 4165-4200 to cap upside on the S&amp;P 500 for 2023, but that a rally to 4300-4325 is also possible; this remains our view.
In our 5/2/23 Compass we discussed how the Nasdaq Composite was testing 12,300 resistance, and that a breakout and reach to 13,180 is possible.
The Nasdaq Composite hit 13,154 Tuesday as Technology (XLK), and to a lesser extent Communications (XLC), are seemingly in a blowoff stage, while all other Sectors are neutral to bearish.


Downgrading Discretionary & Health Care to Market Weight, Staples & Utilities to Underweight

United States

Franklin Electric Co., Inc. designs, manufactures, and distributes electric motors, electronic motor controls, and related equipment.  The Company sells its products around the world primarily to original equipment manufacturers of pumps, petroleum equipment, compressors, fans, heating and air conditioning equipment, swimming pool equipment, medical furniture, and business machines.

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

Franklin Electric Co (FELE US)

Franklin Electric: Is a 26% Surge in Energy Systems Sales Just the Beginning?

Franklin Electric's recent financial performance for the third quarter of 2025 highlights its ability to deliver robust results despite external...

Baptista Research

Franklin Electric: Will Its Focus on Energy Systems Pay Off?

Franklin Electric delivered a mixed performance for the fourth quarter and full year of 2024 against a backdrop of challenging macroeconomic...

Baptista Research

Franklin Electric Co. - Increasing Footprint in Fueling Systems & Other Major Drivers

Franklin Electric Co., Inc.'s second quarter 2024 financial results exhibited resilience, albeit with a dip in consolidated sales compared to the...

Baptista Research

Dow Testing 1-Year Resistance at 34,280 Ahead of FOMC; Buy Ideas Within Manufacturing/Industrials

Dow $DJI Testing 1-Year Resistance at 34,280 ahead of FOMC. Breadth continues to improve within the Russell 2000 $IWM, and breadth improving within...

Vermilion Research

Downgrading Discretionary & Health Care to Market Weight, Staples & Utilities to Underweight

5/2/23 we discussed how $Nasdaq Comp was testing 12,300 resistance, and that a breakout and reach to 13,180 was possible. It hit 13,154 Tuesday as...

Vermilion Research

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)