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>Kyndryl’s second fiscal quarter for FY2026 has spotlighted an inflection point in the company's post-spin growth journey, with adjusted pretax income jumping 171% year-over-year and adjusted EBITDA margin expanding 250 basis points.</li><li>Despite revenue coming in ~$100 million below expectations, management reiterated full-year guidance and outlined a stronger second half powered by a record pipeline, elevated Kyndryl Consult revenues, and hyperscaler momentum.</li><li>Among the many developments highlighted during the earnings call, one stood out for its potential long-term implications: Kyndryl’s intent to acquire Solvinity, a Netherlands-based midsized cloud services provider.</li></ul>

Kyndryl’s second fiscal quarter for FY2026 has spotlighted an inflection point in the company's post-spin growth journey, with adjusted pretax income jumping 171% year-over-year and adjusted EBITDA margin expanding 250 basis points.Despite revenue coming in ~$100 million below expectations, management reiterated full-year guidance and outlined a stronger second half powered by a record pipeline, elevated Kyndryl Consult revenues, and hyperscaler momentum.Among the many developments highlighted during the earnings call, one stood out for its potential long-term implications: Kyndryl’s intent to acquire Solvinity, a Netherlands-based midsized cloud services provider.

Kyndryl Just Doubled Down On Its European Ambitions—What Solvinity Brings To The Table!

<ul><li>Kyndryl, a prominent player in mission-critical enterprise technology services, presented its earnings results for the first fiscal quarter ending June 30, 2025.</li><li>The company's financial performance showcased notable progress alongside certain challenges, reflecting the ongoing transformation and strategic initiatives implemented since the spin-off from IBM.</li><li>The company reported revenue of $3.7 billion for the quarter, an increase on a reported basis but a decline of 2.6% in constant currency.</li></ul>

Kyndryl, a prominent player in mission-critical enterprise technology services, presented its earnings results for the first fiscal quarter ending June 30, 2025.The company's financial performance showcased notable progress alongside certain challenges, reflecting the ongoing transformation and strategic initiatives implemented since the spin-off from IBM.The company reported revenue of $3.7 billion for the quarter, an increase on a reported basis but a decline of 2.6% in constant currency.

Kyndryl’s $1.8 Billion Partnership Pipeline & Consulting Growth—Is There A Good Upside?

<ul><li>Kyndryl Holdings Inc. delivered strong financial results for the third quarter of fiscal 2025, reflecting robust execution of its strategic initiatives and growth in key areas.</li><li>The company reported a significant 31% increase in contract signings over the past year, amounting to $16.3 billion.</li><li>This represents the fifth consecutive quarter of year-over-year growth in signings, indicative of sustained demand for Kyndryl’s modernization, cloud, security, and AI services.</li></ul>

Kyndryl Holdings Inc. delivered strong financial results for the third quarter of fiscal 2025, reflecting robust execution of its strategic initiatives and growth in key areas.The company reported a significant 31% increase in contract signings over the past year, amounting to $16.3 billion.This represents the fifth consecutive quarter of year-over-year growth in signings, indicative of sustained demand for Kyndryl’s modernization, cloud, security, and AI services.

Kyndryl Holdings Inc.: Hyperscaler-Related Revenue Expansion To Up Their Game!

Tracking developments across tech supply chains, Tech Supply Chain Tracker

Tech Supply Chain Tracker

Tracking developments across tech supply chains

<ul><li>Global smartphone sales are anticipated to rise in Q2 2024, presenting an opportunity for Taiwanese firms to act quickly.</li><li>IBM's Kyndryl spinoff is focusing on addressing India's cybersecurity talent shortage, signaling the need for immediate action.</li><li>Apple is prioritizing user privacy in its slow launch strategy, while Huawei revolutionizes mobile innovation with a triple-fold smartphone.</li></ul>

Global smartphone sales are anticipated to rise in Q2 2024, presenting an opportunity for Taiwanese firms to act quickly.IBM's Kyndryl spinoff is focusing on addressing India's cybersecurity talent shortage, signaling the need for immediate action.Apple is prioritizing user privacy in its slow launch strategy, while Huawei revolutionizes mobile innovation with a triple-fold smartphone.

Tech Supply Chain Tracker (11-Sep-2024): Global smartphones, 2Q '24

External reports (aggregated public sources), Value Investors Club

Value Investors Club (VIC)

External reports (aggregated public sources)

Value Investors Club

<ul><li>Negative outlook on Kyndryl (KD US) as a spin-off company in IT outsourcing business</li><li>Post-spin turnaround boosted by financial engineering, with risk of 60% downside based on valuation multiples</li><li>Financial leverage misunderstood, cash flow generation may disappoint investors; recommendation to short KD US due to expected lack of growth and disappointing cash flow generation</li></ul><p><em>This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only. This article was originally published 3 months ago on Value Investors Club.</em></p>

Negative outlook on Kyndryl (KD US) as a spin-off company in IT outsourcing businessPost-spin turnaround boosted by financial engineering, with risk of 60% downside based on valuation multiplesFinancial leverage misunderstood, cash flow generation may disappoint investors; recommendation to short KD US due to expected lack of growth and disappointing cash flow generationThis content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only. This article was originally published 3 months ago on Value Investors Club.

Kyndryl Holdings Inc (KD) - Thursday, Jun 6, 2024

United States

Kyndryl Holdings, Inc. operates as a holding company. The Company, through its subsidiaries, provides applications, data, AI, cloud, core enterprise, digital workplace, security, and other related services. Kyndryl Holdings serves customers in the United States.

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Kyndryl Holdings (KD US)

Kyndryl Just Doubled Down On Its European Ambitions—What Solvinity Brings To The Table!

Kyndryl’s second fiscal quarter for FY2026 has spotlighted an inflection point in the company's post-spin growth journey, with adjusted pretax...

Baptista Research

Kyndryl’s $1.8 Billion Partnership Pipeline & Consulting Growth—Is There A Good Upside?

Kyndryl, a prominent player in mission-critical enterprise technology services, presented its earnings results for the first fiscal quarter ending...

Baptista Research

Tech Supply Chain Tracker (11-Sep-2024): Global smartphones, 2Q '24

Global smartphone sales rising in Q2 2024, IBM's Kyndryl addresses India's cybersecurity talent shortage, SEMICON India urges Taiwanese firms to...

Tech Supply Chain Tracker

Kyndryl Holdings Inc (KD) - Thursday, Jun 6, 2024

Financial leverage misunderstood, cash flow generation may disappoint investors; recommendation to short KD US due to expected lack of growth and...

Value Investors Club (VIC)

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Kyndryl Just Doubled Down On Its European Ambitions—What Solvinity Brings To The Table!

Kyndryl’s second fiscal quarter for FY2026 has spotlighted an inflection point in the company's post-spin growth journey, with adjusted pretax...

Baptista Research

Kyndryl’s $1.8 Billion Partnership Pipeline & Consulting Growth—Is There A Good Upside?

Kyndryl, a prominent player in mission-critical enterprise technology services, presented its earnings results for the first fiscal quarter ending...

Baptista Research

Kyndryl Holdings Inc.: Hyperscaler-Related Revenue Expansion To Up Their Game!

Kyndryl Holdings Inc. delivered strong financial results for the third quarter of fiscal 2025, reflecting robust execution of its strategic...

Baptista Research

Tech Supply Chain Tracker (11-Sep-2024): Global smartphones, 2Q '24

Global smartphone sales rising in Q2 2024, IBM's Kyndryl addresses India's cybersecurity talent shortage, SEMICON India urges Taiwanese firms to...

Tech Supply Chain Tracker

Kyndryl Holdings Inc (KD) - Thursday, Jun 6, 2024

Financial leverage misunderstood, cash flow generation may disappoint investors; recommendation to short KD US due to expected lack of growth and...

Value Investors Club (VIC)