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

Global Business Travel Group I / Equity Bottom-Up

<ul><li>American Express Global Business Travel (GBT) demonstrated strong financial performance in the third quarter of 2024.</li><li>The company experienced growth in demand for its offerings and managed to significantly increase its adjusted EBITDA by 23% to $118 million, with a notable margin expansion of 300 basis points.</li><li>This margin growth was supported by a focused approach on cost management and by leveraging operating efficiencies.</li></ul>

American Express Global Business Travel (GBT) demonstrated strong financial performance in the third quarter of 2024.The company experienced growth in demand for its offerings and managed to significantly increase its adjusted EBITDA by 23% to $118 million, with a notable margin expansion of 300 basis points.This margin growth was supported by a focused approach on cost management and by leveraging operating efficiencies.

Global Business Travel Group (GTB): Will Its Technological Innovations & Automation Be A Breakthrough Move? - Major Drivers

<ul><li>American Express Global Business Travel (GBT) reported notable financial performance for the second quarter of 2024, illustrating a mix of strengths and areas for focus that investors should consider.</li><li>The company demonstrated robust adjusted EBITDA growth, substantial margin expansion, and significant cash flow acceleration.</li><li>Most notably, GBT achieved a 20% growth in adjusted EBITDA and margin expansion of 240 basis points year-over-year.</li></ul>

American Express Global Business Travel (GBT) reported notable financial performance for the second quarter of 2024, illustrating a mix of strengths and areas for focus that investors should consider.The company demonstrated robust adjusted EBITDA growth, substantial margin expansion, and significant cash flow acceleration.Most notably, GBT achieved a 20% growth in adjusted EBITDA and margin expansion of 240 basis points year-over-year.

Global Business Travel Group: A Tale Of Diversification & Focus On Professional Services! - Major Drivers

<ul><li>Global Business Travel delivered a notably robust first quarter in 2024, showcasing several financial strengths and strategic expansions that influence its investment profile.</li><li>The company's performance was highlighted by a 9% growth in Total Transaction Value (TTV) and a 6% increase in revenue.</li><li>Moreover, the report mentioned noteworthy margin expansions and a 24% increase in Adjusted EBITDA, positioning this quarter as having the highest first-quarter Adjusted EBITDA in the company’s history.</li></ul>

Global Business Travel delivered a notably robust first quarter in 2024, showcasing several financial strengths and strategic expansions that influence its investment profile.The company's performance was highlighted by a 9% growth in Total Transaction Value (TTV) and a 6% increase in revenue.Moreover, the report mentioned noteworthy margin expansions and a 24% increase in Adjusted EBITDA, positioning this quarter as having the highest first-quarter Adjusted EBITDA in the company’s history.

Global Business Travel Group: Increased Demand for Business Travel and Market Share Gains Enough For A Bullish Rating? - Major Drivers

<ul><li>This is our first report on American Express Global Business Travel (GBT).</li><li>The company recently released Q4 2023 earnings.</li><li>On a positive note, the company delivered impressive financial results, with standout numbers including 24% year-over-year revenue growth and a roughly fourfold increase in adjusted EBITDA. Paul Abbott, CEO, attributed this strong performance to share gains and a focus on margin expansion.</li></ul>

This is our first report on American Express Global Business Travel (GBT).The company recently released Q4 2023 earnings.On a positive note, the company delivered impressive financial results, with standout numbers including 24% year-over-year revenue growth and a roughly fourfold increase in adjusted EBITDA. Paul Abbott, CEO, attributed this strong performance to share gains and a focus on margin expansion.

Global Business Travel Group Inc.: Initiation Of Coverage - Emphasis on Digital Transactions

SPAC Deep Dive, subSPAC

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SPAC Deep Dive

Each week we’ll identify and break down for you SPACs that are capturing market share and making an impact.

Equity Capital Markets

Global Business Travel Group I / Equity Capital Markets

<ul>
<li>When American Express Global Business Travel announced that it was going public through a SPAC merger with Apollo Global Management at $5.3 billion, the industry was split</li>
<li>While some lauded the move as a way to capitalize on the rebound in travel &amp; industry consolidation, others questioned the timing of the deal and the long-term outlook of the market</li>
<li>With so many uncertainties surrounding the future of work, new waves of the pandemic, and general business outlook, enthusiasm about the deal is muted</li>
</ul>


When American Express Global Business Travel announced that it was going public through a SPAC merger with Apollo Global Management at $5.3 billion, the industry was split
While some lauded the move as a way to capitalize on the rebound in travel &amp; industry consolidation, others questioned the timing of the deal and the long-term outlook of the market
With so many uncertainties surrounding the future of work, new waves of the pandemic, and general business outlook, enthusiasm about the deal is muted


This Deal Will Reshape The Future of Corporate Travel

United States

Global Business Travel Group, Inc. operates as a travel management company. The Company offers business trip planning, travel booking, expense management, meetings and events, and business consulting solutions. Global Business Travel Group serves customers worldwide.

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Global Business Travel Group I (GBTG US)

Global Business Travel Group (GTB): Will Its Technological Innovations & Automation Be A Breakthrough Move? - Major Drivers

American Express Global Business Travel (GBT) demonstrated strong financial performance in the third quarter of 2024. The company experienced...

Baptista Research

Global Business Travel Group: A Tale Of Diversification & Focus On Professional Services! - Major Drivers

American Express Global Business Travel (GBT) reported notable financial performance for the second quarter of 2024, illustrating a mix of...

Baptista Research

Global Business Travel Group Inc.: Initiation Of Coverage - Emphasis on Digital Transactions

This is our first report on American Express Global Business Travel (GBT). The company recently released Q4 2023 earnings. On a positive note, the...

Baptista Research

This Deal Will Reshape The Future of Corporate Travel

Welcome to The Rundown! Each week we’ll identify and break down for you SPACs that are capturing market share and making an impact. Happy Sunday...

subSPAC

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Global Business Travel Group (GTB): Will Its Technological Innovations & Automation Be A Breakthrough Move? - Major Drivers

American Express Global Business Travel (GBT) demonstrated strong financial performance in the third quarter of 2024. The company experienced...

Baptista Research

Global Business Travel Group: A Tale Of Diversification & Focus On Professional Services! - Major Drivers

American Express Global Business Travel (GBT) reported notable financial performance for the second quarter of 2024, illustrating a mix of...

Baptista Research

Global Business Travel Group: Increased Demand for Business Travel and Market Share Gains Enough For A Bullish Rating? - Major Drivers

Global Business Travel delivered a notably robust first quarter in 2024, showcasing several financial strengths and strategic expansions that...

Baptista Research

Global Business Travel Group Inc.: Initiation Of Coverage - Emphasis on Digital Transactions

This is our first report on American Express Global Business Travel (GBT). The company recently released Q4 2023 earnings. On a positive note, the...

Baptista Research

This Deal Will Reshape The Future of Corporate Travel

Welcome to The Rundown! Each week we’ll identify and break down for you SPACs that are capturing market share and making an impact. Happy Sunday...

subSPAC