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>Gildan Activewear's third quarter results for 2025 reflect a mixed performance amidst a challenging macroeconomic environment.</li><li>The company reported net sales of $911 million, up 2.2% year-over-year.</li><li>This growth was primarily driven by a 5.4% increase in Activewear sales, attributed to favorable product mix and higher net prices.</li></ul>

Gildan Activewear's third quarter results for 2025 reflect a mixed performance amidst a challenging macroeconomic environment.The company reported net sales of $911 million, up 2.2% year-over-year.This growth was primarily driven by a 5.4% increase in Activewear sales, attributed to favorable product mix and higher net prices.

Gildan Activewear: What’s Driving Its Surprise Move Into Hats, Bags, and Beyond?

<ul><li>Gildan Activewear, in its latest earnings report, presented notable financial performance during the second quarter of 2025.</li><li>The company achieved record quarterly sales of $919 million, marking a 6.5% increase from the previous year, primarily driven by a 12% growth in Activewear sales.</li><li>This segment's robust performance came from increased sales volumes and favorable pricing dynamics, along with strong demand from existing and new brand offerings, including the launch of the AllPro brand and Champion.</li></ul>

Gildan Activewear, in its latest earnings report, presented notable financial performance during the second quarter of 2025.The company achieved record quarterly sales of $919 million, marking a 6.5% increase from the previous year, primarily driven by a 12% growth in Activewear sales.This segment's robust performance came from increased sales volumes and favorable pricing dynamics, along with strong demand from existing and new brand offerings, including the launch of the AllPro brand and Champion.

Gildan Activewear: An Insight Into Its Market Share, Competitive Landscape & Key Growth Levers!

<ul><li>Gildan Activewear delivered a mixed set of results for the first quarter of 2025, characterized by moderate growth in net sales and stable adjusted earnings per share.</li><li>The company reported net sales of $712 million, marking a 2.3% increase over the same quarter last year.</li><li>The activewear segment emerged as a key growth driver, registering a substantial 9.3% increase in sales due to higher volumes and a favorable product mix within North America.</li></ul>

Gildan Activewear delivered a mixed set of results for the first quarter of 2025, characterized by moderate growth in net sales and stable adjusted earnings per share.The company reported net sales of $712 million, marking a 2.3% increase over the same quarter last year.The activewear segment emerged as a key growth driver, registering a substantial 9.3% increase in sales due to higher volumes and a favorable product mix within North America.

Gildan Activewear Unleashes Its Next-Gen Apparel Tech But Will It Help Capture A Larger Piece Of The Market Pie?

<ul><li>Gildan Activewear reported a strong performance for Q4 and the full year 2024, driven by its Sustainable Growth Strategy (GSG).</li><li>The company achieved record fourth-quarter sales of $822 million, marking a 5% increase from the previous year, and a significant increase in adjusted EPS by 11% to $0.83 per share.</li><li>For the full year, Gildan reached record revenues of roughly $3.3 billion, with a strong adjusted operating margin of 21.3% and an adjusted diluted EPS growth of 17%.</li></ul>

Gildan Activewear reported a strong performance for Q4 and the full year 2024, driven by its Sustainable Growth Strategy (GSG).The company achieved record fourth-quarter sales of $822 million, marking a 5% increase from the previous year, and a significant increase in adjusted EPS by 11% to $0.83 per share.For the full year, Gildan reached record revenues of roughly $3.3 billion, with a strong adjusted operating margin of 21.3% and an adjusted diluted EPS growth of 17%.

Gildan Activewear: An Insight Into The Fast-Changing Competitive Dynamics & Major Growth 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

<ul>
<li>We remain near-term bullish since our 4/22/25 Compass, and our intermediate-term outlook remains bullish as well (as of our 5/14/25 Compass), with Int’l Compass reports all echoing this sentiment.</li>
<li>Our bullish near-term outlook will remain in place as long as the 4+ month uptrend continues on ACWI-US. Remain aggressively long/continue to expect more upside into year-end and the early2026.</li>
<li>Europe's EURO STOXX 50 is breaking out from its 7-month base, above the crucial 5500 level, and RS is attempting to reverse its 5-month downtrend -- buy.</li>
</ul>


We remain near-term bullish since our 4/22/25 Compass, and our intermediate-term outlook remains bullish as well (as of our 5/14/25 Compass), with Int’l Compass reports all echoing this sentiment.
Our bullish near-term outlook will remain in place as long as the 4+ month uptrend continues on ACWI-US. Remain aggressively long/continue to expect more upside into year-end and the early2026.
Europe's EURO STOXX 50 is breaking out from its 7-month base, above the crucial 5500 level, and RS is attempting to reverse its 5-month downtrend -- buy.


Europe Breaking Out From 7-Month Base -- Buy; Remain Overweight Taiwan, China, Korea, and the U.S.

Canada

Gildan Activewear Inc. manufactures and markets undecorated blank activewear. The Company offers t-shirts, sport shirts, and fleeces, which are subsequently decorated by screen printing companies with designs and logos. Gildan Activewear serves customers worldwide.

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Gildan Activewear (GIL US)

Gildan Activewear: What’s Driving Its Surprise Move Into Hats, Bags, and Beyond?

Gildan Activewear's third quarter results for 2025 reflect a mixed performance amidst a challenging macroeconomic environment. The company...

Baptista Research

Gildan Activewear Unleashes Its Next-Gen Apparel Tech But Will It Help Capture A Larger Piece Of The Market Pie?

Gildan Activewear delivered a mixed set of results for the first quarter of 2025, characterized by moderate growth in net sales and stable...

Baptista Research

Gildan Activewear: An Insight Into The Fast-Changing Competitive Dynamics & Major Growth Drivers!

Gildan Activewear reported a strong performance for Q4 and the full year 2024, driven by its Sustainable Growth Strategy (GSG). The company...

Baptista Research

Europe Breaking Out From 7-Month Base -- Buy; Remain Overweight Taiwan, China, Korea, and the U.S.

Europe EURO $STOXX 50 Breaking Out From 7-Month Base -- Buy; Remain Overweight Taiwan $EWT, China $MCHI, Korea $EWY, and the U.S. $SPX; Bullish...

Vermilion Research

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Gildan Activewear: What’s Driving Its Surprise Move Into Hats, Bags, and Beyond?

Gildan Activewear's third quarter results for 2025 reflect a mixed performance amidst a challenging macroeconomic environment. The company...

Baptista Research

Gildan Activewear: An Insight Into Its Market Share, Competitive Landscape & Key Growth Levers!

Gildan Activewear, in its latest earnings report, presented notable financial performance during the second quarter of 2025. The company achieved...

Baptista Research

Gildan Activewear Unleashes Its Next-Gen Apparel Tech But Will It Help Capture A Larger Piece Of The Market Pie?

Gildan Activewear delivered a mixed set of results for the first quarter of 2025, characterized by moderate growth in net sales and stable...

Baptista Research

Gildan Activewear: An Insight Into The Fast-Changing Competitive Dynamics & Major Growth Drivers!

Gildan Activewear reported a strong performance for Q4 and the full year 2024, driven by its Sustainable Growth Strategy (GSG). The company...

Baptista Research

Europe Breaking Out From 7-Month Base -- Buy; Remain Overweight Taiwan, China, Korea, and the U.S.

Europe EURO $STOXX 50 Breaking Out From 7-Month Base -- Buy; Remain Overweight Taiwan $EWT, China $MCHI, Korea $EWY, and the U.S. $SPX; Bullish...

Vermilion Research