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>HEICO Corporation has entered another familiar but strategically meaningful lane in its acquisition playbook with an agreement to acquire 80% of Sherwood Avionics and Accessories, a South Florida-based FAA and EASA Part 145 repair station focused on complex mechanical and electro-mechanical component overhaul for defense and selected commercial aircraft.</li><li>The proposed transaction follows a strong fiscal first quarter in which HEICO reported double-digit revenue, operating income, and net income growth, while reiterating that acquisition activity across both major segments remains unusually active.</li><li>Management also signaled confidence that recently announced deals should be accretive within the year after closing, reinforcing the company’s long-standing emphasis on disciplined, cash-generative bolt-on acquisitions.</li></ul>

HEICO Corporation has entered another familiar but strategically meaningful lane in its acquisition playbook with an agreement to acquire 80% of Sherwood Avionics and Accessories, a South Florida-based FAA and EASA Part 145 repair station focused on complex mechanical and electro-mechanical component overhaul for defense and selected commercial aircraft.The proposed transaction follows a strong fiscal first quarter in which HEICO reported double-digit revenue, operating income, and net income growth, while reiterating that acquisition activity across both major segments remains unusually active.Management also signaled confidence that recently announced deals should be accretive within the year after closing, reinforcing the company’s long-standing emphasis on disciplined, cash-generative bolt-on acquisitions.

HEICO’s Sherwood Buyout Could Supercharge Its Aftermarket Dominance!

<ul><li>HEICO Corporation's financial results for the first quarter of fiscal year 2026 reflect a period of solid performance with both strengths and challenges reflected in their operations.</li><li>Demonstrating consistent growth, the company noted a consolidated net income increase of 13% to a record $190.2 million, or $1.35 per diluted share, as compared to the same period in the prior year.</li><li>This performance was supported by a rise in consolidated operating income and net sales by 15% and 14%, respectively.</li></ul>

HEICO Corporation's financial results for the first quarter of fiscal year 2026 reflect a period of solid performance with both strengths and challenges reflected in their operations.Demonstrating consistent growth, the company noted a consolidated net income increase of 13% to a record $190.2 million, or $1.35 per diluted share, as compared to the same period in the prior year.This performance was supported by a rise in consolidated operating income and net sales by 15% and 14%, respectively.

HEICO: Ethos Integration & Global Turbine Service Expansion—A Strategic Bet on the Growing Power Infrastructure Market!

<ul><li>HEICO Corporation's latest financial results highlight a robust performance in the fourth quarter of fiscal 2025, reflecting significant growth and positive momentum across its business segments.</li><li>The company reported a substantial 35% increase in consolidated net income, reaching $188.3 million or $1.33 per diluted share, compared to the previous year's figures.</li><li>These results cap an overall strong year for HEICO, marked by record-setting revenue and income growth.</li></ul>

HEICO Corporation's latest financial results highlight a robust performance in the fourth quarter of fiscal 2025, reflecting significant growth and positive momentum across its business segments.The company reported a substantial 35% increase in consolidated net income, reaching $188.3 million or $1.33 per diluted share, compared to the previous year's figures.These results cap an overall strong year for HEICO, marked by record-setting revenue and income growth.

HEICO’s Diversification Across Commercial

Index Rebalance and Special Situations Coverage, Quiddity Advisors

Anjana Amarasuriya

Index Rebalance and Special Situations Coverage

Quiddity Advisors

Pan-Asia Catalysts/Events

Index Rebalance

<ul>
<li>The SP 500 index tracks the 500 largest (mostly profitable) US-listed names and is one of the most highly-tracked indices in the world.</li>
<li>A spin-off completes next week, and the new company's entry into the SP 500 is expected to trigger an intra-review deletion.</li>
<li>We expect two ADDs and two DELs at the December 2026 rebalance, and two M&amp;A deals could trigger intra-review ADDs before that.</li>
</ul>


The SP 500 index tracks the 500 largest (mostly profitable) US-listed names and is one of the most highly-tracked indices in the world.
A spin-off completes next week, and the new company's entry into the SP 500 is expected to trigger an intra-review deletion.
We expect two ADDs and two DELs at the December 2026 rebalance, and two M&amp;A deals could trigger intra-review ADDs before that.


Quiddity Leaderboard SP500/600 Dec26 Rebal: Two M&A Deals Pending; One Spin-Off ADD Imminent

<ul>
<li>The SP 500 index tracks the 500 largest US-listed names and is one of the most highly-tracked indices in the world.</li>
<li>The rankings used for the September 2026 index rebal event will be based on yesterday's (2 September 2026) opening prices. The announcement will be made after the close on Friday.</li>
<li>In this insight, we take a look at our final expectations for ADDs/DELs (along with a tracker of all live spinoff/M&amp;A events which affect the index the next few quarters).</li>
</ul>


The SP 500 index tracks the 500 largest US-listed names and is one of the most highly-tracked indices in the world.
The rankings used for the September 2026 index rebal event will be based on yesterday's (2 September 2026) opening prices. The announcement will be made after the close on Friday.
In this insight, we take a look at our final expectations for ADDs/DELs (along with a tracker of all live spinoff/M&amp;A events which affect the index the next few quarters).


Quiddity Leaderboard SP500/600 Sep26 Rebal: Final Expectations

United States

HEICO Corporation designs, manufactures, and sells aerospace products and services through its subsidiaries. The Company's customers include airlines and airmotive, as well as defense contractors and military agencies worldwide, including the United States Air Force, the United States Navy, and the National Aeronautics & Space Administration (NASA).

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HEICO Corp (HEI US)

HEICO’s Sherwood Buyout Could Supercharge Its Aftermarket Dominance!

HEICO Corporation has entered another familiar but strategically meaningful lane in its acquisition playbook with an agreement to acquire 80% of...

Baptista Research

HEICO: Ethos Integration & Global Turbine Service Expansion—A Strategic Bet on the Growing Power Infrastructure Market!

HEICO Corporation's financial results for the first quarter of fiscal year 2026 reflect a period of solid performance with both strengths and...

Baptista Research

HEICO’s Diversification Across Commercial

HEICO Corporation's latest financial results highlight a robust performance in the fourth quarter of fiscal 2025, reflecting significant growth...

Baptista Research

Quiddity Leaderboard SP500/600 Dec26 Rebal: Two M&A Deals Pending; One Spin-Off ADD Imminent

SP DJI could announce the addition of Vylor (VYLR US), the seed business spun off from Corteva (CTVA US), to the SP 500 within this week. Our...

Anjana Amarasuriya

Quiddity Leaderboard SP500/600 Sep26 Rebal: Final Expectations

Two ADDs, two DELs for the September 2026 S&P 500 rebalance. Bloom Energy and Twilio lead the ADDs race. But the committee may skip Non-1500 entirely.

Anjana Amarasuriya

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