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>FTAI Aviation reported a strong first quarter of 2026, demonstrating growth across its Aerospace Products, Strategic Capital (Aviation Leasing), and Power segments amid a complex geopolitical and market environment.</li><li>The Aerospace Products segment showed notable momentum with revenue growth accelerating 104% year-over-year and 32% quarter-over-quarter, driven by increasing market share—from 10% to 12%—and rising demand for engine solutions surrounding the CFM56 and V2500 engines.</li><li>Production volumes nearly doubled from the prior year, with 270 CFM56 modules refurbished in Q1, contributing to a 70% year-over-year increase in adjusted EBITDA to $223 million and a 30% EBITDA margin.</li></ul>

FTAI Aviation reported a strong first quarter of 2026, demonstrating growth across its Aerospace Products, Strategic Capital (Aviation Leasing), and Power segments amid a complex geopolitical and market environment.The Aerospace Products segment showed notable momentum with revenue growth accelerating 104% year-over-year and 32% quarter-over-quarter, driven by increasing market share—from 10% to 12%—and rising demand for engine solutions surrounding the CFM56 and V2500 engines.Production volumes nearly doubled from the prior year, with 270 CFM56 modules refurbished in Q1, contributing to a 70% year-over-year increase in adjusted EBITDA to $223 million and a 30% EBITDA margin.

FTAI Aerospace: Is Its Overhaul And Repair Expansion The Hidden Driver Wall Street Should Watch?

Smartkarma's AI Co-Pilot, Smartkarma

αSK

Smartkarma's AI Co-Pilot

Smartkarma

Smartkarma unites the fragmented investment industry, connecting institutional investors, independent research providers, and corporates within a single network.

Research Reinvented

<ul>
 <li>
<a href="https://smartkarma.com/entities/ftai-aviation-ltd">FTAI Aviation </a>is a key player in the aviation aftermarket, with a unique, vertically integrated business model focused on leasing and maintaining the widely-used CFM56 and V2500 commercial jet engines.</li>
 <li>The company is pursuing an 'asset-light' strategy through its Strategic Capital Initiative (SCI), using third-party capital to acquire aircraft while securing exclusive, high-margin maintenance contracts, which is expected to drive significant earnings growth.</li>
 <li>FTAI is diversifying its revenue streams by launching 'FTAI Power,' a new platform that repurposes retired jet engines into power turbines for the growing AI data center market, leveraging its core engine expertise.</li>
</ul>This content is AI-generated and displayed for general informational purposes only. Please verify independently before use.


  
FTAI Aviation is a key player in the aviation aftermarket, with a unique, vertically integrated business model focused on leasing and maintaining the widely-used CFM56 and V2500 commercial jet engines.
  The company is pursuing an 'asset-light' strategy through its Strategic Capital Initiative (SCI), using third-party capital to acquire aircraft while securing exclusive, high-margin maintenance contracts, which is expected to drive significant earnings growth.
  FTAI is diversifying its revenue streams by launching 'FTAI Power,' a new platform that repurposes retired jet engines into power turbines for the growing AI data center market, leveraging its core engine expertise.
This content is AI-generated and displayed for general informational purposes only. Please verify independently before use.

Primer: FTAI Aviation  ( FTAI US) - Apr 2026

Global Mobility/Transport, Equity Long-Short

Mo Aziz

Thematic (Sector/Industry)

<ul>
<li>An excellent article by Keith Mwanalushi in Aviation Week Network is a must read, here is the link <a href="https://aviationweek.com/mro/supply-chain/engine-supply-chain-experiences-shifting-pain-points" target="_blank" rel="noopener">Engine Supply Chain Experiences Shifting Pain Points | Aviation Week Network  </a>
</li>
<li>Underpins our thesis that engine issues disrupt aircraft supply, pushing lease rates higher - especially on aircraft coming off leases, and for spare engines </li>
<li>
<a href="https://www.smartkarma.com/entities/ftai-aviation-ltd" target="_blank" data-smartkarma-citation="entities:28793:1" rel="noopener">FTAI Aviation (FTAI US)</a> is the prime beneficiary with a portfolio of engines followed by <a href="https://www.smartkarma.com/entities/aercap-holdings-nv" target="_blank" data-smartkarma-citation="entities:28083:1" rel="noopener">AerCap Holdings NV (AER US)</a> with engines and mid-life aircraft coming off leases</li>
</ul>


An excellent article by Keith Mwanalushi in Aviation Week Network is a must read, here is the link Engine Supply Chain Experiences Shifting Pain Points | Aviation Week Network  

Underpins our thesis that engine issues disrupt aircraft supply, pushing lease rates higher - especially on aircraft coming off leases, and for spare engines 

FTAI Aviation (FTAI US) is the prime beneficiary with a portfolio of engines followed by AerCap Holdings NV (AER US) with engines and mid-life aircraft coming off leases


Engine Supply Chain Experiences Shifting Pain Points

<ul>
<li>FTAI Aviation reported solid performance in 2025, marked by notable progress across its Aerospace Products and Aviation Leasing segments, as well as the launch of a new Power business platform.</li>
<li>The company’s strategic capital initiative (SCI) raised $2 billion in equity commitments in 2025 for its inaugural fund focused on acquiring mid-life narrow-body aircraft, with a total expected capital deployment of $6 billion including financing partners.</li>
<li>The fund closed 130 aircraft in 2025 and is on track to fully invest by mid-2026, while fundraising for SCI II has commenced supported by an anchor equity commitment.</li>
</ul>


FTAI Aviation reported solid performance in 2025, marked by notable progress across its Aerospace Products and Aviation Leasing segments, as well as the launch of a new Power business platform.
The company’s strategic capital initiative (SCI) raised $2 billion in equity commitments in 2025 for its inaugural fund focused on acquiring mid-life narrow-body aircraft, with a total expected capital deployment of $6 billion including financing partners.
The fund closed 130 aircraft in 2025 and is on track to fully invest by mid-2026, while fundraising for SCI II has commenced supported by an anchor equity commitment.


FTAI Aviation: Repurposing CFM56 Engines & Entering Power Markets—A Smart Diversification Play?

Podcast by Andrew Walker, a PM at Rangeley Capital, Yet Another Value Podcast

Yet Another Value Podcast

Podcast by Andrew Walker, a PM at Rangeley Capital

Yet Another Value Podcast is a new podcast from Andrew Walker, the founder of yetanothervalueblog.substack.com/. We interview top investors and dive deep into stocks and companies they are currently working on and investing in. While nothing on this channel is investing advice and everyone should do their own diligence, our goal is to frequently feature edgy and actionable value and/or event driven ideas. Please see our legal and disclaimer at: https://yetanothervalueblog.substack.com/p/legal-and-disclaimer

<ul><li>Will Cleary has extensive knowledge and insights on the company FTI Aviation, showcasing impressive stats and understanding of the industry and company.</li><li>Andrew Walker and Will Cleary are hosting a live webinar on March 10 at 1pm Eastern to discuss all things media, telecom, and communication.</li><li>FTI Aviation is a leading provider of aftermarket jet engine power in the commercial aviation industry, leveraging a vertically integrated model to deliver cost-effective solutions to customers.</li></ul>This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.

Will Cleary has extensive knowledge and insights on the company FTI Aviation, showcasing impressive stats and understanding of the industry and company.Andrew Walker and Will Cleary are hosting a live webinar on March 10 at 1pm Eastern to discuss all things media, telecom, and communication.FTI Aviation is a leading provider of aftermarket jet engine power in the commercial aviation industry, leveraging a vertically integrated model to deliver cost-effective solutions to customers.This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.

United States

FTAI Aviation Ltd. is an aerospace company. The Company provides a complete suite of aviation products that include aircraft leasing, engine leasing, and engine repairs, as well as CFM56 engines, modules, and materials. FTAI Aviation serves customers worldwide.

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

FTAI Aviation (FTAI US)

FTAI Aerospace: Is Its Overhaul And Repair Expansion The Hidden Driver Wall Street Should Watch?

FTAI Aviation reported a strong first quarter of 2026, demonstrating growth across its Aerospace Products, Strategic Capital (Aviation Leasing),...

Baptista Research

Primer: FTAI Aviation ( FTAI US) - Apr 2026

FTAI Aviation is a key player in the aviation aftermarket, with a unique, vertically integrated business model focused on leasing and...

αSK

Engine Supply Chain Experiences Shifting Pain Points

Engine supply chain issues are causing disruptions in the aircraft supply and driving up lease rates, benefiting FTAI Aviation and AerCap Holdings.

Mo Aziz

FTAI Aviation: Repurposing CFM56 Engines & Entering Power Markets—A Smart Diversification Play?

The fund closed 130 aircraft in 2025 and is on track to fully invest by mid-2026, while fundraising for SCI II has commenced supported by an anchor...

Baptista Research

Carriage House's Will Cleary on $FTAI

Will Cleary is hosting a live webinar with AlphaSense's director of TMT research discussing all things media, telecom, and communication, including...

Yet Another Value Podcast

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

FTAI Aerospace: Is Its Overhaul And Repair Expansion The Hidden Driver Wall Street Should Watch?

FTAI Aviation reported a strong first quarter of 2026, demonstrating growth across its Aerospace Products, Strategic Capital (Aviation Leasing),...

Baptista Research

Primer: FTAI Aviation ( FTAI US) - Apr 2026

FTAI Aviation is a key player in the aviation aftermarket, with a unique, vertically integrated business model focused on leasing and...

αSK

Engine Supply Chain Experiences Shifting Pain Points

​Engine supply chain issues are causing disruptions in the aircraft supply and driving up lease rates, benefiting FTAI Aviation and AerCap Holdings.

Mo Aziz

FTAI Aviation: Repurposing CFM56 Engines & Entering Power Markets—A Smart Diversification Play?

The fund closed 130 aircraft in 2025 and is on track to fully invest by mid-2026, while fundraising for SCI II has commenced supported by an anchor...

Baptista Research

Carriage House's Will Cleary on $FTAI

Will Cleary is hosting a live webinar with AlphaSense's director of TMT research discussing all things media, telecom, and communication, including...

Yet Another Value Podcast

Engine supply chain issues are causing disruptions in the aircraft supply and driving up lease rates, benefiting FTAI Aviation and AerCap Holdings.