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>MSCI Inc. reported strong financial performance for the second quarter of 2026, with notable growth in both its index and private asset segments, which remain key drivers of the company’s revenue expansion.</li><li>The company achieved over 12% organic revenue growth, nearly 19% adjusted earnings per share (EPS) growth, and 14% adjusted EBITDA growth.</li><li>A significant contributor to its results was the asset-based fee (ABF) run rate, which rose 25% year-over-year to $948 million, supported by record levels of assets under management (AUM) in exchange-traded fund (ETF) and non-ETF products linked to MSCI indices.</li></ul>

MSCI Inc. reported strong financial performance for the second quarter of 2026, with notable growth in both its index and private asset segments, which remain key drivers of the company’s revenue expansion.The company achieved over 12% organic revenue growth, nearly 19% adjusted earnings per share (EPS) growth, and 14% adjusted EBITDA growth.A significant contributor to its results was the asset-based fee (ABF) run rate, which rose 25% year-over-year to $948 million, supported by record levels of assets under management (AUM) in exchange-traded fund (ETF) and non-ETF products linked to MSCI indices.

MSCI’s $2.8 Trillion Index Empire: Can Record ETF Assets Keep Compounding?

<ul><li>MSCI reported solid financial results for the first quarter of 2026, reflecting its broad diversification and foundational role in global investing.</li><li>The company achieved organic revenue growth exceeding 13%, adjusted earnings per share (EPS) growth close to 14%, and adjusted EBITDA growth nearing 19%.</li><li>Key operating metrics included a nearly 13% increase in total run rate, powered by a record asset-based fee run rate of $872 million, up 25%, and recurring subscription run rate growth of 9%, supported by a 52% surge in net new recurring subscription sales.</li></ul>

MSCI reported solid financial results for the first quarter of 2026, reflecting its broad diversification and foundational role in global investing.The company achieved organic revenue growth exceeding 13%, adjusted earnings per share (EPS) growth close to 14%, and adjusted EBITDA growth nearing 19%.Key operating metrics included a nearly 13% increase in total run rate, powered by a record asset-based fee run rate of $872 million, up 25%, and recurring subscription run rate growth of 9%, supported by a 52% surge in net new recurring subscription sales.

MSCI Inc: A 13% Organic Growth Run Faces Selective Spending Headwinds!

<ul><li>MSCI Inc. reported strong financial performance for the fourth quarter of 2025, characterized by notable organic revenue growth of over 10%, adjusted EBITDA growth exceeding 13%, and an adjusted EPS increase of nearly 12% for the quarter.</li><li>For the 2025 fiscal year, the company also delivered an impressive adjusted EPS growth of almost 14%.</li><li>Significant shareholder returns were also emphasized, with MSCI repurchasing nearly $958 million of its shares during the fourth quarter and over $3.3 billion over the past two years.</li></ul>

MSCI Inc. reported strong financial performance for the fourth quarter of 2025, characterized by notable organic revenue growth of over 10%, adjusted EBITDA growth exceeding 13%, and an adjusted EPS increase of nearly 12% for the quarter.For the 2025 fiscal year, the company also delivered an impressive adjusted EPS growth of almost 14%.Significant shareholder returns were also emphasized, with MSCI repurchasing nearly $958 million of its shares during the fourth quarter and over $3.3 billion over the past two years.

<ul><li>MSCI reported solid results for the third quarter of 2025, showcasing robust growth in several key metrics despite facing some challenges.</li><li>The company achieved an organic revenue growth of 9%, driven by significant gains in its Index and Analytics segments.</li><li>Adjusted EBITDA grew by 10%, and adjusted earnings per share increased by over 15%, demonstrating strong operational efficiency and profitability.</li></ul>

MSCI reported solid results for the third quarter of 2025, showcasing robust growth in several key metrics despite facing some challenges.The company achieved an organic revenue growth of 9%, driven by significant gains in its Index and Analytics segments.Adjusted EBITDA grew by 10%, and adjusted earnings per share increased by over 15%, demonstrating strong operational efficiency and profitability.

MSCI Inside: How a $30 Billion ETF Boom Is Supercharging Its Future!

Singapore Market Roundup, Singapore Market Roundup

Singapore Market Roundup

Thematic (Sector/Industry)

<ul>
<li>DBS sees M. deal as key to SGX's growth and potential earnings boost.</li>
<li>RHB maintains 'buy' on CSE Global after US$8 million SEI acquisition.</li>
<li>World Cup impacts high-value gaming patrons; DBS retains ‘hold’ on Genting Singapore.</li>
</ul>


DBS sees M. deal as key to SGX's growth and potential earnings boost.
RHB maintains 'buy' on CSE Global after US$8 million SEI acquisition.
World Cup impacts high-value gaming patrons; DBS retains ‘hold’ on Genting Singapore.


Singapore Market Roundup (24-Jul-2026): DBS Views M. Deal as Vital for SGX Growth and Earnings.

United States

MSCI Inc. provides investment decision support tools to investment institutions worldwide. The Company produces indices and risk and return portfolio analytics for use in managing investment portfolios.

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MSCI Inc (MSCI US)

MSCI’s $2.8 Trillion Index Empire: Can Record ETF Assets Keep Compounding?

MSCI Inc. reported strong financial performance for the second quarter of 2026, with notable growth in both its index and private asset segments,...

Baptista Research

MSCI Inc: A 13% Organic Growth Run Faces Selective Spending Headwinds!

MSCI reported solid financial results for the first quarter of 2026, reflecting its broad diversification and foundational role in global...

Baptista Research

MSCI Leverages AI to Slash Costs

MSCI Inc. reported strong financial performance for the fourth quarter of 2025, characterized by notable organic revenue growth of over 10%,...

Baptista Research

MSCI Inside: How a $30 Billion ETF Boom Is Supercharging Its Future!

MSCI reported solid results for the third quarter of 2025, showcasing robust growth in several key metrics despite facing some challenges. The...

Baptista Research

Singapore Market Roundup (24-Jul-2026): DBS Views M. Deal as Vital for SGX Growth and Earnings.

DBS views the M. deal as crucial for SGX's growth. RHB keeps 'buy' on CSE Global after its $8M SEI acquisition. Worlds Cup impacts high-value...

Singapore Market Roundup

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