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>Norfolk Southern Corporation's third-quarter 2025 earnings reflect a complex interplay of operational achievements and market challenges.</li><li>The company's management emphasized their commitment to safety, efficiency, and service quality as key drivers for long-term success.</li><li>Throughout the call, they highlighted several significant accomplishments while addressing the hurdles they are encountering.</li></ul>

Norfolk Southern Corporation's third-quarter 2025 earnings reflect a complex interplay of operational achievements and market challenges.The company's management emphasized their commitment to safety, efficiency, and service quality as key drivers for long-term success.Throughout the call, they highlighted several significant accomplishments while addressing the hurdles they are encountering.

Norfolk Southern: Intermodal Growth & Modal Share Gains in Eastern U.S. Freight Corridors; But Is It All Sustainable?

<ul><li>Norfolk Southern Corp. has emerged as a potential acquisition target for Union Pacific Corp., with early-stage discussions underway that could reshape the North American rail landscape.</li><li>If the deal materializes, it would combine the largest and fifth-largest railroads by revenue, creating a network valued at nearly $200 billion and extending from coast to coast — an unprecedented footprint in U.S. rail history.</li><li>Union Pacific CEO Jim Vena has publicly discussed the strategic merits of a transcontinental railroad, and Norfolk Southern CFO Jason Zampi has echoed support for such a structure, citing potential benefits.</li></ul>

Norfolk Southern Corp. has emerged as a potential acquisition target for Union Pacific Corp., with early-stage discussions underway that could reshape the North American rail landscape.If the deal materializes, it would combine the largest and fifth-largest railroads by revenue, creating a network valued at nearly $200 billion and extending from coast to coast — an unprecedented footprint in U.S. rail history.Union Pacific CEO Jim Vena has publicly discussed the strategic merits of a transcontinental railroad, and Norfolk Southern CFO Jason Zampi has echoed support for such a structure, citing potential benefits.

Union Pacific Eyes Norfolk Southern: Is America’s First Coast-to-Coast Rail Giant Taking Shape?

<ul><li>Norfolk Southern Corporation's latest earnings for Q1 2025 outlined key aspects of its operational and financial performance amidst challenging conditions, including adverse weather impacts.</li><li>The company's approach was marked by resilience and focus on productivity improvements, despite external uncertainties such as economic conditions and potential tariff impacts.</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>

Norfolk Southern Corporation's latest earnings for Q1 2025 outlined key aspects of its operational and financial performance amidst challenging conditions, including adverse weather impacts.The company's approach was marked by resilience and focus on productivity improvements, despite external uncertainties such as economic conditions and potential tariff impacts.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.

Norfolk Southern Corporation Wins Big-Thanks to Bold Customer Service Reboot!

<ul><li>Norfolk Southern Corporation recently reported its fourth-quarter results, delivering a solid performance to close the year 2024.</li><li>The company's operational efficiency was evident with a reported 3% increase in volume and a 2% rise in revenue excluding fuel.</li><li>Notably, the adjusted operating ratio improved to 65.8%, exceeding previous guidance, while full-year improvements led to a 64.1% operating ratio in the second half.</li></ul>

Norfolk Southern Corporation recently reported its fourth-quarter results, delivering a solid performance to close the year 2024.The company's operational efficiency was evident with a reported 3% increase in volume and a 2% rise in revenue excluding fuel.Notably, the adjusted operating ratio improved to 65.8%, exceeding previous guidance, while full-year improvements led to a 64.1% operating ratio in the second half.

Norfolk Southern: Can Its Strong Pricing Strategy Help Capitalize on Emerging Market Opportunities? - Major Drivers

<ul><li>Norfolk Southern Corporation demonstrated a robust performance in the third quarter of 2024, navigating a complex landscape marked by natural disasters and operational challenges.</li><li>The company reported a 3% increase in revenue compared to the previous year, alongside an impressive 23% increase in adjusted earnings per share.</li><li>A significant operational highlight was the improvement in the adjusted operating ratio, which saw a 570 basis point decline to 63.4%.</li></ul>

Norfolk Southern Corporation demonstrated a robust performance in the third quarter of 2024, navigating a complex landscape marked by natural disasters and operational challenges.The company reported a 3% increase in revenue compared to the previous year, alongside an impressive 23% increase in adjusted earnings per share.A significant operational highlight was the improvement in the adjusted operating ratio, which saw a 570 basis point decline to 63.4%.

Norfolk Southern Corporation: An Insight Into Their Enhanced Network and Operational Efficiency Strategy! - Major Drivers

United States

Norfolk Southern Corporation provides rail transportation services. The Company transports raw materials, intermediate products, and finished goods primarily in the Southeast, East, and Midwest and, via interchange with rail carriers, to and from the rest of the United States. Norfolk Southern also transports overseas freight through several Atlantic and Gulf Coast ports

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Norfolk Southern (NSC US)

Union Pacific Eyes Norfolk Southern: Is America’s First Coast-to-Coast Rail Giant Taking Shape?

Norfolk Southern Corp. has emerged as a potential acquisition target for Union Pacific Corp., with early-stage discussions underway that could...

Baptista Research

Norfolk Southern Corporation Wins Big-Thanks to Bold Customer Service Reboot!

Norfolk Southern Corporation's latest earnings for Q1 2025 outlined key aspects of its operational and financial performance amidst challenging...

Baptista Research

Norfolk Southern: Can Its Strong Pricing Strategy Help Capitalize on Emerging Market Opportunities? - Major Drivers

Norfolk Southern Corporation recently reported its fourth-quarter results, delivering a solid performance to close the year 2024. The company's...

Baptista Research

Norfolk Southern Corporation: An Insight Into Their Enhanced Network and Operational Efficiency Strategy! - Major Drivers

Norfolk Southern Corporation demonstrated a robust performance in the third quarter of 2024, navigating a complex landscape marked by natural...

Baptista Research

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Norfolk Southern: Intermodal Growth & Modal Share Gains in Eastern U.S. Freight Corridors; But Is It All Sustainable?

Norfolk Southern Corporation's third-quarter 2025 earnings reflect a complex interplay of operational achievements and market challenges. The...

Baptista Research

Union Pacific Eyes Norfolk Southern: Is America’s First Coast-to-Coast Rail Giant Taking Shape?

Norfolk Southern Corp. has emerged as a potential acquisition target for Union Pacific Corp., with early-stage discussions underway that could...

Baptista Research

Norfolk Southern Corporation Wins Big-Thanks to Bold Customer Service Reboot!

Norfolk Southern Corporation's latest earnings for Q1 2025 outlined key aspects of its operational and financial performance amidst challenging...

Baptista Research

Norfolk Southern: Can Its Strong Pricing Strategy Help Capitalize on Emerging Market Opportunities? - Major Drivers

Norfolk Southern Corporation recently reported its fourth-quarter results, delivering a solid performance to close the year 2024. The company's...

Baptista Research

Norfolk Southern Corporation: An Insight Into Their Enhanced Network and Operational Efficiency Strategy! - Major Drivers

Norfolk Southern Corporation demonstrated a robust performance in the third quarter of 2024, navigating a complex landscape marked by natural...

Baptista Research