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>KBR's third-quarter 2025 earnings call covered several key aspects of the company's performance and strategic direction.</li><li>On the revenue front, KBR reported a flat year-on-year figure but highlighted a sequential increase of 5% year-to-date compared to the previous year.</li><li>The company's book-to-bill ratio stood at a notable 1.4x for the quarter, indicating healthy future growth prospects.</li></ul>

KBR's third-quarter 2025 earnings call covered several key aspects of the company's performance and strategic direction.On the revenue front, KBR reported a flat year-on-year figure but highlighted a sequential increase of 5% year-to-date compared to the previous year.The company's book-to-bill ratio stood at a notable 1.4x for the quarter, indicating healthy future growth prospects.

KBR Is Quietly Building a Global Defense Stronghold — How Far Can Its International Expansion Push Revenues?

Founder, CEO, GSBR Research

Garvit Bhandari

Founder, CEO

Leading Provider of Equity and Investment Research

GSBR Research

We are an independent equity research provider focused on covering global markets. The aim of the research is to provide an unbiased view of the fundamentals of the company.

Event-Driven

<ul>
<li>KBR will separate Mission Technology Solutions (government services, defense, space) from Sustainable Technology Solutions (process technologies, clean energy, and infrastructure), sharpening strategic focus and valuation clarity.</li>
<li>STS is asset-light with strong FCF and IP-driven growth, while MTS is capital-intensive with long-term government contracts; independence allows each to tailor capital allocation and pursue targeted M&amp;A.</li>
<li>Post-Spin, STS could be benchmarked against clean tech/process peers and MTS against defense contractors, giving investors cleaner comparables and potential sum-of-the-parts upside.</li>
</ul>


KBR will separate Mission Technology Solutions (government services, defense, space) from Sustainable Technology Solutions (process technologies, clean energy, and infrastructure), sharpening strategic focus and valuation clarity.
STS is asset-light with strong FCF and IP-driven growth, while MTS is capital-intensive with long-term government contracts; independence allows each to tailor capital allocation and pursue targeted M&amp;A.
Post-Spin, STS could be benchmarked against clean tech/process peers and MTS against defense contractors, giving investors cleaner comparables and potential sum-of-the-parts upside.


KBR to Spin Off Mission Technology Solutions: Creating Two Focused Platforms

<ul><li>KBR Inc.'s second-quarter 2025 earnings call highlighted a mixed performance characterized by various challenges and opportunities impacting its operations and future outlook.</li><li>Starting with key financial metrics, the company reported revenues of $2 billion, marking a 6% year-over-year increase.</li><li>This was driven primarily by growth across both the Mission Technology Solutions (MTS) and Sustainable Technology Solutions (STS) segments, despite certain headwinds.</li></ul>

KBR Inc.'s second-quarter 2025 earnings call highlighted a mixed performance characterized by various challenges and opportunities impacting its operations and future outlook.Starting with key financial metrics, the company reported revenues of $2 billion, marking a 6% year-over-year increase.This was driven primarily by growth across both the Mission Technology Solutions (MTS) and Sustainable Technology Solutions (STS) segments, despite certain headwinds.

KBR Inc: Strengthening Its Global Footprint with Strategic Defense, Space, & Renewable Projects!

<ul><li>KBR, Inc.'s latest quarterly earnings revealed several significant aspects of its current performance and future outlook, presenting an investment thesis that reflects both the company's achievements and the challenges it faces.</li><li>The company reported strong financial results in the first quarter of fiscal 2025, showcasing a remarkable increase in revenues and adjusted EBITDA driven primarily by its recent strategic initiatives.</li><li>On the positive side, KBR recorded a notable 13% year-over-year increase in revenues, reaching $2.1 billion, with a corresponding 17% rise in adjusted EBITDA to $243 million.</li></ul>

KBR, Inc.'s latest quarterly earnings revealed several significant aspects of its current performance and future outlook, presenting an investment thesis that reflects both the company's achievements and the challenges it faces.The company reported strong financial results in the first quarter of fiscal 2025, showcasing a remarkable increase in revenues and adjusted EBITDA driven primarily by its recent strategic initiatives.On the positive side, KBR recorded a notable 13% year-over-year increase in revenues, reaching $2.1 billion, with a corresponding 17% rise in adjusted EBITDA to $243 million.

KBR Inc.: Will Its Diversified Global Business Mix Make It A More Sustainable Business?

<ul><li>KBR, Inc. demonstrated a strong financial performance in the fourth quarter and the full fiscal year 2024, surpassing its earlier projections.</li><li>The company achieved revenues of $2.1 billion in the fourth quarter, culminating in an annual revenue of $7.7 billion, marking a 23% growth for the quarter and 11% for the year overall.</li><li>Organic growth for the year stood at 9%.</li></ul>

KBR, Inc. demonstrated a strong financial performance in the fourth quarter and the full fiscal year 2024, surpassing its earlier projections.The company achieved revenues of $2.1 billion in the fourth quarter, culminating in an annual revenue of $7.7 billion, marking a 23% growth for the quarter and 11% for the year overall.Organic growth for the year stood at 9%.

KBR Inc.: Growth in International Government Markets Fueling Our Bullishness!

United States

KBR, Inc. is a global engineering, construction, and services company supporting the energy, petrochemicals, government services, and civil infrastructure sectors.  The Company offers a wide range of services through two business segments, Energy and Chemicals (E&C) and Government and Infrastructure (G&I).

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KBR (KBR US)

KBR Is Quietly Building a Global Defense Stronghold — How Far Can Its International Expansion Push Revenues?

KBR's third-quarter 2025 earnings call covered several key aspects of the company's performance and strategic direction. On the revenue front, KBR...

Baptista Research

KBR to Spin Off Mission Technology Solutions: Creating Two Focused Platforms

KBR to separate Mission Technology Solutions and Sustainable Technology Solutions, enhancing strategic focus and valuation clarity for each segment.

GSBR Research

KBR Inc: Strengthening Its Global Footprint with Strategic Defense, Space, & Renewable Projects!

KBR Inc.'s second-quarter 2025 earnings call highlighted a mixed performance characterized by various challenges and opportunities impacting its...

Baptista Research

KBR Inc.: Will Its Diversified Global Business Mix Make It A More Sustainable Business?

KBR, Inc.'s latest quarterly earnings revealed several significant aspects of its current performance and future outlook, presenting an investment...

Baptista Research

KBR Inc.: Growth in International Government Markets Fueling Our Bullishness!

KBR, Inc. demonstrated a strong financial performance in the fourth quarter and the full fiscal year 2024, surpassing its earlier projections. The...

Baptista Research

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

KBR Is Quietly Building a Global Defense Stronghold — How Far Can Its International Expansion Push Revenues?

KBR's third-quarter 2025 earnings call covered several key aspects of the company's performance and strategic direction. On the revenue front, KBR...

Baptista Research

KBR to Spin Off Mission Technology Solutions: Creating Two Focused Platforms

​KBR to separate Mission Technology Solutions and Sustainable Technology Solutions, enhancing strategic focus and valuation clarity for each segment.

GSBR Research

KBR Inc: Strengthening Its Global Footprint with Strategic Defense, Space, & Renewable Projects!

KBR Inc.'s second-quarter 2025 earnings call highlighted a mixed performance characterized by various challenges and opportunities impacting its...

Baptista Research

KBR Inc.: Will Its Diversified Global Business Mix Make It A More Sustainable Business?

KBR, Inc.'s latest quarterly earnings revealed several significant aspects of its current performance and future outlook, presenting an investment...

Baptista Research

KBR Inc.: Growth in International Government Markets Fueling Our Bullishness!

KBR, Inc. demonstrated a strong financial performance in the fourth quarter and the full fiscal year 2024, surpassing its earlier projections. The...

Baptista Research

KBR to separate Mission Technology Solutions and Sustainable Technology Solutions, enhancing strategic focus and valuation clarity for each segment.