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>Moog Inc.'s financial performance in the second quarter of fiscal year 2025 demonstrated robust sales and strategic adaptability amid potential uncertainties from evolving tariffs.</li>
<li>Overall, the company reported record-level sales of $935 million, which slightly surpassed last year's second quarter figures.</li>
<li>The company exhibited strength in its Defense, Military Aircraft, and Commercial Aircraft segments, although Industrial sector sales declined, primarily influenced by the company's simplification initiatives.</li>
</ul>


Moog Inc.'s financial performance in the second quarter of fiscal year 2025 demonstrated robust sales and strategic adaptability amid potential uncertainties from evolving tariffs.
Overall, the company reported record-level sales of $935 million, which slightly surpassed last year's second quarter figures.
The company exhibited strength in its Defense, Military Aircraft, and Commercial Aircraft segments, although Industrial sector sales declined, primarily influenced by the company's simplification initiatives.


Moog Inc.: Advancements in Space & Defense to Solidify Its Position Within The Defense Industry!

<ul>
<li>Moog Inc.’s first quarter fiscal 2025 results indicate a robust start to the year, with significant achievements in various segments of its business.</li>
<li>The company reported sales of $910 million, a 6% year-over-year increase, underscoring strong performance particularly in Military Aircraft, Commercial Aircraft, and Space and Defense, although Industrial sales declined due to divestitures and soft market conditions.</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>


Moog Inc.’s first quarter fiscal 2025 results indicate a robust start to the year, with significant achievements in various segments of its business.
The company reported sales of $910 million, a 6% year-over-year increase, underscoring strong performance particularly in Military Aircraft, Commercial Aircraft, and Space and Defense, although Industrial sales declined due to divestitures and soft market conditions.
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.


Moog Inc.: The Top 6 Influences on Its Performance for 2025 & the Future! - Major Drivers

<ul>
<li>Moog Inc.'s third quarter fiscal year 2024 earnings brought forth a mix of robust financial results and strategic updates that reflected both the opportunities and challenges faced by the company.</li>
<li>The overall financial health of the company improved, as highlighted by a significant 40% increase in adjusted diluted earnings per share compared to the previous year, driven by heightened sales and better operating margins.</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>


Moog Inc.'s third quarter fiscal year 2024 earnings brought forth a mix of robust financial results and strategic updates that reflected both the opportunities and challenges faced by the company.
The overall financial health of the company improved, as highlighted by a significant 40% increase in adjusted diluted earnings per share compared to the previous year, driven by heightened sales and better operating margins.
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.


Moog Inc.: Initiation Of Coverage - Can It Capitalize On The Expanded Defense Market Opportunities?

US/Europe Event-Driven Analyst

John DeMasi

Event-Driven

<a href="https://www.smartkarma.com/entities/kaman-corp" target="_blank" data-smartkarma-citation="entities:17189:1" rel="noopener">Kaman Corp (KAMN US)</a> is a company with two distinct business segments, Aerospace and Industrial Distribution. Distribution is a leading distributor with 6 million SKUs serving 55,000 active customers in a broad range of industrial markets. Aerospace produces aircraft bearings and components, aerostructures for commercial and military fixed and rotary wing aircraft, arming solutions for missile and bomb systems and engineered products used in medical, industrial and aerospace markets.On June 26, 2019, Kaman announced an agreement to sell its Distribution segment to private equity firm Littlejohn &amp; Co. for $700 million cash as the culmination of a strategic review undertaken by the board of directors. Net proceeds of about $600 million will be used to pay down $100 million of the Company’s $308 million in debt, accelerate internal development efforts and pursue strategic acquisitions in engineered products market.Below I look at the business and valuation of the new, focused Aerospace pure-play company Kaman will become.

Kaman Corp (KAMN US) is a company with two distinct business segments, Aerospace and Industrial Distribution. Distribution is a leading distributor with 6 million SKUs serving 55,000 active customers in a broad range of industrial markets. Aerospace produces aircraft bearings and components, aerostructures for commercial and military fixed and rotary wing aircraft, arming solutions for missile and bomb systems and engineered products used in medical, industrial and aerospace markets.On June 26, 2019, Kaman announced an agreement to sell its Distribution segment to private equity firm Littlejohn &amp; Co. for $700 million cash as the culmination of a strategic review undertaken by the board of directors. Net proceeds of about $600 million will be used to pay down $100 million of the Company’s $308 million in debt, accelerate internal development efforts and pursue strategic acquisitions in engineered products market.Below I look at the business and valuation of the new, focused Aerospace pure-play company Kaman will become.

Kaman Corporation – Morphing into an Aerospace Pure-Play

On May 21, 2019 <a href="https://www.smartkarma.com/entities/20662" target="_blank" data-smartkarma-citation="entities:20662:1">Crane Co (CR US)</a> announced a proposal to acquire <a href="https://www.smartkarma.com/entities/10244" target="_blank" data-smartkarma-citation="entities:10244:1">Circor International (CIR US)</a>, a manufacturer of pumps, valves, regulators, actuators, and related engineered components for $45 per share in cash, for a total equity value of $895 million and a total enterprise value of $1.55 billion ($1.7 billion if net pension liability is included). The proposal price of $45 represents a 47% premium over the May 20, 2019 CIR US closing price of $30.66. Crane held a conference call and released a slide presentation on its proposal with more details. In this piece I evaluate the proposal and the impediments standing in Crane’s way of winning this deal.

On May 21, 2019 Crane Co (CR US) announced a proposal to acquire Circor International (CIR US), a manufacturer of pumps, valves, regulators, actuators, and related engineered components for $45 per share in cash, for a total equity value of $895 million and a total enterprise value of $1.55 billion ($1.7 billion if net pension liability is included). The proposal price of $45 represents a 47% premium over the May 20, 2019 CIR US closing price of $30.66. Crane held a conference call and released a slide presentation on its proposal with more details. In this piece I evaluate the proposal and the impediments standing in Crane’s way of winning this deal.

Crane Co. Proposal to Acquire CIRCOR International – Actuator Wanted

United States

Moog Inc. manufactures precision motion control components and systems. The Company's actuation products control military and commercial aircraft, satellites and space vehicles, missiles, launch vehicles, automated industrial machinery, and medical equipment.

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Moog Inc Class A (MOG/A US)

Moog Inc.: Advancements in Space & Defense to Solidify Its Position Within The Defense Industry!

Moog Inc.'s financial performance in the second quarter of fiscal year 2025 demonstrated robust sales and strategic adaptability amid potential...

Baptista Research

Moog Inc.: The Top 6 Influences on Its Performance for 2025 & the Future! - Major Drivers

Moog Inc.’s first quarter fiscal 2025 results indicate a robust start to the year, with significant achievements in various segments of its business.

Baptista Research

Moog Inc.: Initiation Of Coverage - Can It Capitalize On The Expanded Defense Market Opportunities?

Moog Inc.'s third quarter fiscal year 2024 earnings brought forth a mix of robust financial results and strategic updates that reflected both the...

Baptista Research

Kaman Corporation – Morphing into an Aerospace Pure-Play

Kaman Corp (KAMN US) is a company with two distinct business segments, Aerospace and Industrial Distribution. Distribution is a leading distributor...

John DeMasi

Crane Co. Proposal to Acquire CIRCOR International – Actuator Wanted

On May 21, 2019 Crane Co (CR US) announced a proposal to acquire Circor International (CIR US), a manufacturer of pumps, valves, regulators,...

John DeMasi

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