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

LVMH Moet Hennessy Louis Vuitton SE / Equity Bottom-Up

<ul><li>LVMH Moët Hennessy Louis Vuitton has demonstrated considerable resilience during the first half of 2025, despite navigating complex macroeconomic conditions and currency volatility.</li><li>The company reported EUR 40 billion in revenue, representing a 3% organic decline, and profit from recurring operations at EUR 9 billion, down 15% from the previous year.</li><li>The operating margin of 22.6% suggests solid management efficiency amidst declining revenues.</li></ul>

LVMH Moët Hennessy Louis Vuitton has demonstrated considerable resilience during the first half of 2025, despite navigating complex macroeconomic conditions and currency volatility.The company reported EUR 40 billion in revenue, representing a 3% organic decline, and profit from recurring operations at EUR 9 billion, down 15% from the previous year.The operating margin of 22.6% suggests solid management efficiency amidst declining revenues.

LVMH’s Dior Transformation: Is a New Creative Vision Powering the Brand’s Next Era?

Smartkarma AI, Smartkarma

αSK

Smartkarma AI

Smartkarma

Smartkarma unites the fragmented investment industry, connecting institutional investors, independent research providers, and corporates within a single network.

Research Reinvented

<ul>
  <li>LVMH's decentralized model, managing a vast portfolio of over 75 distinct luxury Maisons, provides significant diversification across segments and geographies, mitigating risk and ensuring stable revenue streams.</li>
  <li>The company faces near-term headwinds from macroeconomic uncertainties and a slowdown in aspirational consumer spending, particularly in Asia, as reflected in a recent organic revenue decline.</li>
  <li>Management's strategy focuses on elevating core 'mega-brands' like Louis Vuitton and Dior, divesting non-core assets, and enhancing local customer engagement to navigate the current challenging environment and support long-term profitability.</li>
</ul><p><em>This content is AI-generated and displayed for general informational purposes only. Please verify independently before use.</em></p>


  LVMH's decentralized model, managing a vast portfolio of over 75 distinct luxury Maisons, provides significant diversification across segments and geographies, mitigating risk and ensuring stable revenue streams.
  The company faces near-term headwinds from macroeconomic uncertainties and a slowdown in aspirational consumer spending, particularly in Asia, as reflected in a recent organic revenue decline.
  Management's strategy focuses on elevating core 'mega-brands' like Louis Vuitton and Dior, divesting non-core assets, and enhancing local customer engagement to navigate the current challenging environment and support long-term profitability.
This content is AI-generated and displayed for general informational purposes only. Please verify independently before use.

Primer: LVMH Moet Hennessy Louis Vuitton SE (MC FP) - Oct 2025

<ul><li>LVMH Moët Hennessy Louis Vuitton reported its financial results for the first half of 2025, reflecting a mixed performance across various divisions and geographies.</li><li>The group recorded a revenue of EUR 40 billion, down 3% on an organic basis compared to the first half of 2024, with disparities by region and division.</li><li>Profit from recurring operations stood at EUR 9 billion, marking a 15% decrease from the prior year, though the operating margin remained robust at 22.6%.</li></ul>

LVMH Moët Hennessy Louis Vuitton reported its financial results for the first half of 2025, reflecting a mixed performance across various divisions and geographies.The group recorded a revenue of EUR 40 billion, down 3% on an organic basis compared to the first half of 2024, with disparities by region and division.Profit from recurring operations stood at EUR 9 billion, marking a 15% decrease from the prior year, though the operating margin remained robust at 22.6%.

LVMH Eyes Exit From Marc Jacobs: What’s Driving The $1 Billion Divestiture?

Insight Provider, CrossASEAN Research

Nicolas Van Broekhoven

Insight Provider

CrossASEAN Research

At CrossASEAN Research we strive to produce unbiased and differentiated on the ground insights on companies across South East Asia. Our Research is produced for the most part after face to face meetings and conversations with company management to dig deep into the long term vision and strategy of the companies we cover. We seek to deliver investable and actionable themes on sectors and markets across SE Asia, often in collaboration with other Insight Providers across the region, pooling the vast experience of the analysts within the Smartkarma Ecosystem. We also offer bespoke work and tailor made trips for our clients. 

Insights across South East Asia

Thematic (Sector/Industry)

<ul>
<li>The 2023 vintage of "5 High Conviction Ideas" was commodity heavy with 4 of our 5 picks coming from this sector. Three out of five declined between 15-25%. </li>
<li>Our best performer was unloved <a href="https://www.smartkarma.com/entities/mongolian-mining-corp" target="_blank" data-smartkarma-citation="entities:4382:1" rel="noopener">Mongolian Mining (975 HK)</a> which returned 234% even beating <a href="https://www.smartkarma.com/entities/nvidia-corp" target="_blank" data-smartkarma-citation="entities:5891:1" rel="noopener">NVIDIA Corp (NVDA US)</a> YTD performance.  Miracles happen: Coal mining beats AI.</li>
<li>Our 2024 vintage of top ideas for the year will hopefully have a higher hit ratio. See below for more details which are our five high conviction ideas for 2024.</li>
</ul>


The 2023 vintage of "5 High Conviction Ideas" was commodity heavy with 4 of our 5 picks coming from this sector. Three out of five declined between 15-25%. 
Our best performer was unloved Mongolian Mining (975 HK) which returned 234% even beating NVIDIA Corp (NVDA US) YTD performance.  Miracles happen: Coal mining beats AI.
Our 2024 vintage of top ideas for the year will hopefully have a higher hit ratio. See below for more details which are our five high conviction ideas for 2024.


Overview of My Winners and Losers in 2023...and 5 High Conviction Ideas Going Into 2024

<ul><li>LVMH Moët Hennessy Louis Vuitton S.E. reported a year characterized by resilience against a backdrop of global economic challenges.</li><li>The company saw marginal organic revenue growth, but a decline in operating income, largely influenced by significant non-recurring expenses related to major events such as the sponsorship of the Olympics and the renovation of Notre Dame.</li><li>These strategic brand visibility investments also mark a considerable outlay impacting current operating margins.</li></ul>

LVMH Moët Hennessy Louis Vuitton S.E. reported a year characterized by resilience against a backdrop of global economic challenges.The company saw marginal organic revenue growth, but a decline in operating income, largely influenced by significant non-recurring expenses related to major events such as the sponsorship of the Olympics and the renovation of Notre Dame.These strategic brand visibility investments also mark a considerable outlay impacting current operating margins.

LVMH: Initiation of Coverage- Can Its Latest Brand Revitalization & Portfolio Management Be A Potential Game Changer?

France

LVMH Moet Hennessy Louis Vuitton SE is a diversified luxury goods group. The Company produces and sells wine, cognac, perfumes, cosmetics, luggage, and watches and jewelry.

LVMH Moet Hennessy Louis Vuitton SE (MC FP)

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LVMH Moet Hennessy Louis Vuitton SE (MC FP)

LVMH’s Dior Transformation: Is a New Creative Vision Powering the Brand’s Next Era?

LVMH Moët Hennessy Louis Vuitton has demonstrated considerable resilience during the first half of 2025, despite navigating complex macroeconomic...

Baptista Research

Primer: LVMH Moet Hennessy Louis Vuitton SE (MC FP) - Oct 2025

LVMH's decentralized model, managing a vast portfolio of over 75 distinct luxury Maisons, provides significant diversification across segments...

αSK

LVMH Eyes Exit From Marc Jacobs: What’s Driving The $1 Billion Divestiture?

LVMH Moët Hennessy Louis Vuitton reported its financial results for the first half of 2025, reflecting a mixed performance across various...

Baptista Research

Overview of My Winners and Losers in 2023...and 5 High Conviction Ideas Going Into 2024

Our stand-out performer in FY23 was little loved Mongolia Mining. For FY24 we provide five new names which we think can perform strongly.

Nicolas Van Broekhoven

LVMH: Initiation of Coverage- Can Its Latest Brand Revitalization & Portfolio Management Be A Potential Game Changer?

LVMH Moët Hennessy Louis Vuitton S.E. reported a year characterized by resilience against a backdrop of global economic challenges. The company...

Baptista Research

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