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>The latest financial performance of Hasbro Inc. reveals a significant improvement across several metrics, indicating both strengths and challenges the company is facing.</li><li>For the fourth quarter of 2025, Hasbro's revenues surged by more than 30%, complemented by a nearly 180% increase in adjusted operating profit.</li><li>Key contributions came from the Consumer Products division, which saw a 7% increase driven by popular brands like Monopoly and Marvel.</li></ul>

The latest financial performance of Hasbro Inc. reveals a significant improvement across several metrics, indicating both strengths and challenges the company is facing.For the fourth quarter of 2025, Hasbro's revenues surged by more than 30%, complemented by a nearly 180% increase in adjusted operating profit.Key contributions came from the Consumer Products division, which saw a 7% increase driven by popular brands like Monopoly and Marvel.

Hasbro: How Video Games and IP Monetization Are Expanding the Revenue Base!

<ul><li>Hasbro's third-quarter 2025 financial performance indicates a mixed but generally positive trajectory for the company.</li><li>Net revenue and operating profit increased year-over-year, driven by key brands such as Magic: The Gathering and various collaborations.</li><li>The company reported an 8% rise in net revenue, reaching $1.4 billion, and a similarly robust increase in operating profit of 8%, resulting in an adjusted operating profit margin of 25.6%.</li></ul>

Hasbro's third-quarter 2025 financial performance indicates a mixed but generally positive trajectory for the company.Net revenue and operating profit increased year-over-year, driven by key brands such as Magic: The Gathering and various collaborations.The company reported an 8% rise in net revenue, reaching $1.4 billion, and a similarly robust increase in operating profit of 8%, resulting in an adjusted operating profit margin of 25.6%.

How Hasbro Is Using Marvel, Star Trek, & The Hobbit to Supercharge Magic: The Gathering!

<ul><li>Retailers’ delayed ordering patterns and recent rush to restock in anticipation of strong year-end toy demand have placed Hasbro in a strategic position to regain lost momentum in Q4 2025.</li><li>Toy sellers had initially postponed purchases amid tariff uncertainty and uneven consumer demand, opting instead for domestic shipping and just-in-time inventory strategies.</li><li>As trade conditions stabilized and consumer appetite for toys remained solid, retailers have placed accelerated orders for holiday delivery.</li></ul>

Retailers’ delayed ordering patterns and recent rush to restock in anticipation of strong year-end toy demand have placed Hasbro in a strategic position to regain lost momentum in Q4 2025.Toy sellers had initially postponed purchases amid tariff uncertainty and uneven consumer demand, opting instead for domestic shipping and just-in-time inventory strategies.As trade conditions stabilized and consumer appetite for toys remained solid, retailers have placed accelerated orders for holiday delivery.

Hasbro Set To Crush Holiday Season With Magic: The Gathering Surge!

Asia Pac ECM and Index Rebal, Shenton Research

Ke Yan, CFA, FRM

Asia Pac ECM and Index Rebal

Asia Pac IPO & Placement Research, China Biotech

Shenton Research

Shenton Research is an independent Asia Pacific equity specialist. Our quantitative research covers index rebalancing flows, alongside exchange data analytics accross Asia Pacific. On the equity capital markets side, we focus on Asia Pacific ECM, especially biotech and TMT. Our lead analyst is frequently cited by international media.

<ul>
<li>Consensus. The Street reset its numbers after the March results and the May update, then stopped while July channel data weakened. We think a second reset is ahead.</li>
<li>Positioning. July's bounce is accompied by short covering. Southbound has been a seller since June and the company's buyback has been idle since April.</li>
<li>Guidance risk. Management has lowered the bar twice this year. We expect the results call to lower the growth tone again.</li>
</ul>


Consensus. The Street reset its numbers after the March results and the May update, then stopped while July channel data weakened. We think a second reset is ahead.
Positioning. July's bounce is accompied by short covering. Southbound has been a seller since June and the company's buyback has been idle since April.
Guidance risk. Management has lowered the bar twice this year. We expect the results call to lower the growth tone again.


SELL Pop Mart (9992 HK): Assessment of Short Pre 1H26 Results

Latest News from the World’s Leading Innovators

Granite Bay Capital

An innovation focussed investment company

Granite Bay Capital is an innovation focussed investment company with a deep focus on the companies at the leading edge of innovation across major themes such as AI, ubiquitous computing, sustainability, automation and longevity.

Thematic (Sector/Industry)

<p>Headline Developments SpaceX (private) is set to launch The Pentagon’s next-generation national security satellite to orbit - the first launch with a reused rocket.  The launch of the GPS III SV05 for Space Force (below) will take place using the same Falcon 9 rocket booster that launched GPS III SV04 last November.</p>

Headline Developments SpaceX (private) is set to launch The Pentagon’s next-generation national security satellite to orbit - the first launch with a reused rocket.  The launch of the GPS III SV05 for Space Force (below) will take place using the same Falcon 9 rocket booster that launched GPS III SV04 last November.

United States

Hasbro, Inc. designs, manufactures, and markets toys, games, interactive software, puzzles, and infant products in the United States and internationally. The Company's products include a variety of games, including traditional board, card, hand-held electronic, trading card, role-playing and DVD games, as well as electronic learning aids and puzzles as well as dolls and action figures.

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Hasbro Inc (HAS US)

Hasbro: How Video Games and IP Monetization Are Expanding the Revenue Base!

The latest financial performance of Hasbro Inc. reveals a significant improvement across several metrics, indicating both strengths and challenges...

Baptista Research

How Hasbro Is Using Marvel, Star Trek, & The Hobbit to Supercharge Magic: The Gathering!

Hasbro's third-quarter 2025 financial performance indicates a mixed but generally positive trajectory for the company. Net revenue and operating...

Baptista Research

Hasbro Set To Crush Holiday Season With Magic: The Gathering Surge!

Retailers’ delayed ordering patterns and recent rush to restock in anticipation of strong year-end toy demand have placed Hasbro in a strategic...

Baptista Research

SELL Pop Mart (9992 HK): Assessment of Short Pre 1H26 Results

Pop Mart will report 1H26 on 20 Aug. Consensus has been reset twice, after the March and May updates, and has not moved since, while channel data...

Ke Yan, CFA, FRM

Weekly Innovation Review (WIRE) #36

Headline Developments: SpaceX (private) is set to launch The Pentagon’s next-generation national security satellite to orbit.

Granite Bay Capital

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