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>Lear Corporation delivered its second quarter 2024 earnings with several noteworthy elements that merit evaluation for a balanced investment thesis.</li><li>On the positive front, the company continued to demonstrate robust revenue generation with over $6 billion recorded this quarter.</li><li>Growth across both its key segments—E-Systems and Seating—exceeded broader market growth rates, showcasing Lear's strong competitive positioning.</li></ul>

Lear Corporation delivered its second quarter 2024 earnings with several noteworthy elements that merit evaluation for a balanced investment thesis.On the positive front, the company continued to demonstrate robust revenue generation with over $6 billion recorded this quarter.Growth across both its key segments—E-Systems and Seating—exceeded broader market growth rates, showcasing Lear's strong competitive positioning.

Lear Corporation: Expansion in China and Emerging Markets Catalyzing Top-Line Growth! - Major Drivers

Research and consultancy, Tabbush Report

Daniel Tabbush

Research and consultancy

Tabbush Report

We provide research and consultancy on Asian banks. Our focus is on what we call “Asian bank research, without the noise.” We are interested in the most critical swing-factors for banks, the NPL and credit cycle, and where we believe there is a gap between perception and reality. We often focus on the less studied components of bank financial statements.  Our research is highly thematic, sometimes examining unlisted banks and companies as a window on mainstream banks. 

Being independent allows us to look at smaller banks, often overlooked by others. Analysis of BIS bank guidelines in the context of Asia, is also a focal point, while we also analyze global banks operating in the region. We use what we believe is the most comprehensive, reliable financials database, SNL Financial. S&P Capital IQ augments our database, with corporate data and CEIC, with economics. 

Asian bank research, without the noise.

<ul>
<li>Aisin is already achieving strong growth, across many markets, and this should continue with more sales into EV and HEV markets</li>
<li>Financial strength is improving, with gearing moving lower, and debt/ebitda moving lower</li>
<li>Balance sheet clean up can lead to some volatility, but overall a general positive, as is the focus on capital management</li>
</ul>


Aisin is already achieving strong growth, across many markets, and this should continue with more sales into EV and HEV markets
Financial strength is improving, with gearing moving lower, and debt/ebitda moving lower
Balance sheet clean up can lead to some volatility, but overall a general positive, as is the focus on capital management


Aisin - 141% Profit Growth, With Future to Have More Sales for Electric and Hybrid Vehicles

<ul><li>Lear Corporation's record-setting first quarter revenues of $6 billion show an increase of 3%.</li><li>Core operating earnings were up 6% at $280 million, while adjusted earnings per share rose 14% to $3.18.</li><li>Operating cash flow matched that of the same period the previous year.</li></ul>

Lear Corporation's record-setting first quarter revenues of $6 billion show an increase of 3%.Core operating earnings were up 6% at $280 million, while adjusted earnings per share rose 14% to $3.18.Operating cash flow matched that of the same period the previous year.

<ul><li>Lear Corporation achieved record revenue in 2023, reaching $23.5 billion, a 12% increase from 2022.</li><li>The significant growth in core operating earnings by 29% to $1.1 billion and the 38% increase in adjusted earnings per share to $12.02 highlight the company's strong financial performance.</li><li>Additionally, its operating cash flow improved by 22% to over $1.2 billion, and free cash flow conversion exceeded the target of 80%.</li></ul>

Lear Corporation achieved record revenue in 2023, reaching $23.5 billion, a 12% increase from 2022.The significant growth in core operating earnings by 29% to $1.1 billion and the 38% increase in adjusted earnings per share to $12.02 highlight the company's strong financial performance.Additionally, its operating cash flow improved by 22% to over $1.2 billion, and free cash flow conversion exceeded the target of 80%.

Lear Corporation: These 7 Drivers Are Pushing The Company Forward In 2024! - Financial Forecasts

<ul><li>Lear Corporation managed to exceed the revenue and earnings expectations of Wall Street, characterized by double-digit increases in sales and operating earnings.</li><li>Total company revenue saw a commendable 10% surge to $5.8 billion, with core operating earnings experiencing a 14% boost to reach $267 million.</li><li>This quarter's success marks the fifth consecutive quarter of year-over-year improvements in both revenue and operating income for the company.</li></ul>

Lear Corporation managed to exceed the revenue and earnings expectations of Wall Street, characterized by double-digit increases in sales and operating earnings.Total company revenue saw a commendable 10% surge to $5.8 billion, with core operating earnings experiencing a 14% boost to reach $267 million.This quarter's success marks the fifth consecutive quarter of year-over-year improvements in both revenue and operating income for the company.

Lear Corporation: Their Journey to Automotive Excellence! - Major Drivers

United States

Lear Corporation manufactures automobile parts.  The Company produces seating systems; wiring harnesses; terminals; connectors; junction boxes; body control electronics; wireless products; and audio systems.

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Lear Corp (LEA US)

Lear Corporation: Expansion in China and Emerging Markets Catalyzing Top-Line Growth! - Major Drivers

Lear Corporation delivered its second quarter 2024 earnings with several noteworthy elements that merit evaluation for a balanced investment...

Baptista Research

Aisin - 141% Profit Growth, With Future to Have More Sales for Electric and Hybrid Vehicles

Buyback just announced of 17m shares or 6.3% of shares, this is significant, and where the Aisin story is already fundamentally strong.

Daniel Tabbush

Lear Corporation: Industrial Automation

Lear Corporation's record-setting first quarter revenues of $6 billion show an increase of 3%. Core operating earnings were up 6% at $280 million,...

Baptista Research

Lear Corporation: These 7 Drivers Are Pushing The Company Forward In 2024! - Financial Forecasts

Lear Corporation achieved record revenue in 2023, reaching $23.5 billion, a 12% increase from 2022. The significant growth in core operating...

Baptista Research

Lear Corporation: Their Journey to Automotive Excellence! - Major Drivers

Lear Corporation managed to exceed the revenue and earnings expectations of Wall Street, characterized by double-digit increases in sales and...

Baptista Research

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