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>ManpowerGroup's financial results for the fourth quarter of 2025 exhibit a mix of stabilization and improvement across several markets, though challenges remain in particular areas.</li><li>The company's reported revenues reached $4.7 billion, reflecting a 2% growth on an organic constant currency basis.</li><li>However, when factoring in their system-wide revenue, which includes an expanding franchise revenue base, the total climbed to $5.1 billion.</li></ul>

ManpowerGroup's financial results for the fourth quarter of 2025 exhibit a mix of stabilization and improvement across several markets, though challenges remain in particular areas.The company's reported revenues reached $4.7 billion, reflecting a 2% growth on an organic constant currency basis.However, when factoring in their system-wide revenue, which includes an expanding franchise revenue base, the total climbed to $5.1 billion.

ManpowerGroup: How Organic Growth Is Emerging Despite Uneven Labor Markets?

<ul><li>ManpowerGroup, a prominent player in the staffing and workforce solutions industry, recently reported its third-quarter results for 2025, providing insights into its current operational landscape and future outlook.</li><li>The period characterizes a phase of cautious optimism amidst economic uncertainties, with mixed performances across different regions and business units.</li><li>During the third quarter, ManpowerGroup achieved a key milestone by moving past 11 consecutive quarters of organic constant currency revenue declines, transitioning into a growth phase.</li></ul>

ManpowerGroup, a prominent player in the staffing and workforce solutions industry, recently reported its third-quarter results for 2025, providing insights into its current operational landscape and future outlook.The period characterizes a phase of cautious optimism amidst economic uncertainties, with mixed performances across different regions and business units.During the third quarter, ManpowerGroup achieved a key milestone by moving past 11 consecutive quarters of organic constant currency revenue declines, transitioning into a growth phase.

ManpowerGroup: Restructuring Across Regions—Inside the Northern Europe Cost Reset Spreading to Spain

<ul><li>ManpowerGroup's second quarter 2025 financial performance presents a complex picture, emphasizing both resilience and challenges faced by the company.</li><li>Revenue for the second quarter was reported at $4.5 billion, marking a 3% year-over-year decline in constant currency.</li><li>Total system-wide revenue, which includes franchise revenues, was somewhat higher at $4.9 billion.</li></ul>

ManpowerGroup's second quarter 2025 financial performance presents a complex picture, emphasizing both resilience and challenges faced by the company.Revenue for the second quarter was reported at $4.5 billion, marking a 3% year-over-year decline in constant currency.Total system-wide revenue, which includes franchise revenues, was somewhat higher at $4.9 billion.

ManPowerGroup: These Are The 6 Biggest Factors Impacting Its Performance In 2025 & Beyond!

<ul><li>ManpowerGroup's recent earnings revealed a mixed performance for the first quarter of 2025, highlighting both favorable and challenging aspects of its business environment.</li><li>The company's global operations spanning Europe, Latin America, the Asia Pacific, and North America faced varying levels of demand due to economic and geopolitical dynamics, particularly influenced by trade policy announcements in the U.S. which have resulted in heightened uncertainty and cautious client behavior.</li><li>Baptista Research looks to evaluate the different factors that could influence the company's price in the near future and attempts to carry out an independent valuation of the company using a Discounted Cash Flow (DCF) methodology.</li></ul>

ManpowerGroup's recent earnings revealed a mixed performance for the first quarter of 2025, highlighting both favorable and challenging aspects of its business environment.The company's global operations spanning Europe, Latin America, the Asia Pacific, and North America faced varying levels of demand due to economic and geopolitical dynamics, particularly influenced by trade policy announcements in the U.S. which have resulted in heightened uncertainty and cautious client behavior.Baptista Research looks to evaluate the different factors that could influence the company's price in the near future and attempts to carry out an independent valuation of the company using a Discounted Cash Flow (DCF) methodology.

ManpowerGroup: Restructuring Initiatives in Northern Europe to Support Financial Recovery & Future Growth Plans!

Technical Analyst, Vermilion Research

Joe Jasper

Technical Analyst

Technical and Quantitative Research

Vermilion Research

Vermilion’s objective is to deliver timely, actionable, and unique technical research to professional investors through the application of our various technical indicators.

Our research strategists seek to highlight securities which we believe are at major inflection points, based on our various technical and quantitative indicators, and offer asymmetric risk/return profiles. Our unique research methodology, centered on relative strength, enables our strategists to deliver superior investment recommendations.

Our process begins by organizing the universe of actively traded stocks into discrete sectors, then into industry groups. We then apply our technical and quantitative tools to identify developing price trends. Once attractive trends are identified within a selected sector or group, we screen for individual stocks which we believe offer the best risk/reward profile. We provide a historical perspective that often reveals, through our long-term charts, how price patterns often repeat themselves over time.

Technical Analysis

Nasdaq-100 Stock Index / Technical Analysis

<ul>
<li>We will stay near-term bullish as long as crucial support levels of 6824 on SPX, $610 on QQQ, and $257 on IWM (up from $245) continue to hold.</li>
<li>We continue to see deterioration in market dynamics. While we expect a consolidation/pullback period, the aforementioned support levels would need to break to confirm the pullback has begun.</li>
<li>We will maintain our bullish intermediate-term outlook, and recommend buying pullbacks, as long as market dynamics remain constructive and the SPX is above 6480-6520 and IWM is above $245</li>
</ul>


We will stay near-term bullish as long as crucial support levels of 6824 on SPX, $610 on QQQ, and $257 on IWM (up from $245) continue to hold.
We continue to see deterioration in market dynamics. While we expect a consolidation/pullback period, the aforementioned support levels would need to break to confirm the pullback has begun.
We will maintain our bullish intermediate-term outlook, and recommend buying pullbacks, as long as market dynamics remain constructive and the SPX is above 6480-6520 and IWM is above $245


Monitoring for a Pullback; Still Near-Term Bullish Above 6824 on SPX, $610 on QQQ, and $257 on IWM

United States

Manpowergroup Inc. provides non-governmental employment services through offices located around the world. The Company's principal operations include temporary staffing services, contract services, and training and testing of temporary and permanent workers. Manpower provides employment services to a wide variety of customers.

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Manpowergroup Inc (MAN US)

ManpowerGroup: How Organic Growth Is Emerging Despite Uneven Labor Markets?

ManpowerGroup's financial results for the fourth quarter of 2025 exhibit a mix of stabilization and improvement across several markets, though...

Baptista Research

ManpowerGroup: Restructuring Across Regions—Inside the Northern Europe Cost Reset Spreading to Spain

ManpowerGroup, a prominent player in the staffing and workforce solutions industry, recently reported its third-quarter results for 2025,...

Baptista Research

ManPowerGroup: These Are The 6 Biggest Factors Impacting Its Performance In 2025 & Beyond!

ManpowerGroup's second quarter 2025 financial performance presents a complex picture, emphasizing both resilience and challenges faced by the...

Baptista Research

ManpowerGroup: Restructuring Initiatives in Northern Europe to Support Financial Recovery & Future Growth Plans!

ManpowerGroup's recent earnings revealed a mixed performance for the first quarter of 2025, highlighting both favorable and challenging aspects of...

Baptista Research

Monitoring for a Pullback; Still Near-Term Bullish Above 6824 on SPX, $610 on QQQ, and $257 on IWM

Monitoring for a Pullback; Still Near-Term Bullish Above 6824 on $SPX, $610 on $QQQ, and $257 on $IWM. We expect a period of consolidation...

Vermilion Research

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