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>O'Reilly Automotive, Inc. reported its third quarter 2025 results, showing a resilient performance in both sales and profit metrics amidst an environment of economic uncertainties, particularly regarding tariffs and consumer inflationary pressures.</li><li>The company managed to realize a 5.6% increase in comparable store sales, driven largely by a significant 10% growth in its professional (Pro) business, affirming O'Reilly's status as a key supplier for professional shops.</li><li>The DIY segment, on the other hand, displayed a more modest low single-digit growth, encountering some transaction pressure perhaps indicative of consumer response to rising price levels.</li></ul>

O'Reilly Automotive, Inc. reported its third quarter 2025 results, showing a resilient performance in both sales and profit metrics amidst an environment of economic uncertainties, particularly regarding tariffs and consumer inflationary pressures.The company managed to realize a 5.6% increase in comparable store sales, driven largely by a significant 10% growth in its professional (Pro) business, affirming O'Reilly's status as a key supplier for professional shops.The DIY segment, on the other hand, displayed a more modest low single-digit growth, encountering some transaction pressure perhaps indicative of consumer response to rising price levels.

O'Reilly Automotive: A Focus On Strategic Geographic Expansion to Capture Higher Market Share & Increase Long-Term Growth Prospects Significantly!

<ul><li>O’Reilly Automotive has been one of the top-performing retail stocks in 2025, rising over 30% yearto-date and recently trading at $103.47.</li><li>While this rally might make the stock appear expensive relative to peers such as AutoZone, Advance Auto Parts, and Genuine Parts, a closer look at the company's fundamentals justifies its elevated valuation.</li><li>Sales are projected to grow more than 6% annually over the next two years—significantly ahead of peers struggling with stagnation or outright declines.</li></ul>

O’Reilly Automotive has been one of the top-performing retail stocks in 2025, rising over 30% yearto-date and recently trading at $103.47.While this rally might make the stock appear expensive relative to peers such as AutoZone, Advance Auto Parts, and Genuine Parts, a closer look at the company's fundamentals justifies its elevated valuation.Sales are projected to grow more than 6% annually over the next two years—significantly ahead of peers struggling with stagnation or outright declines.

O’Reilly Automotive Leaves Autozone In The Dust—The Valuation Gap Explained!

<ul><li>O'Reilly Automotive, Inc. reported noteworthy second quarter 2025 performance, with both positive and negative elements worth considering for potential investors.</li><li>The company achieved a 4.1% increase in comparable store sales, driven significantly by a solid performance in both their professional and DIY segments.</li><li>This sales momentum is partly attributable to the team's ability to deliver superior customer service, which helped maintain growth at the higher end of expectations.</li></ul>

O'Reilly Automotive, Inc. reported noteworthy second quarter 2025 performance, with both positive and negative elements worth considering for potential investors.The company achieved a 4.1% increase in comparable store sales, driven significantly by a solid performance in both their professional and DIY segments.This sales momentum is partly attributable to the team's ability to deliver superior customer service, which helped maintain growth at the higher end of expectations.

O’Reilly Automotive: Tackling Market Penetration Risk in New Regions & Other Key Challenges!

Global Mobility/Transport, Equity Long-Short

Mohshin Aziz

<ul>
<li>Tuhu sets up operations in Malaysia, its first overseas expansion outside of Greater China.</li>
<li>We think Tuhu can dominate the market within 3-4 years, as there are no local establishments that can match its infrastructure, know-how, and capital base. </li>
<li>Fair value of HKD23 implies 22x FY26 PE - average for US peers. A bargain with 3-year CAGR of 30%, net cash, and churns high free cash flow.</li>
</ul>


Tuhu sets up operations in Malaysia, its first overseas expansion outside of Greater China.
We think Tuhu can dominate the market within 3-4 years, as there are no local establishments that can match its infrastructure, know-how, and capital base. 
Fair value of HKD23 implies 22x FY26 PE - average for US peers. A bargain with 3-year CAGR of 30%, net cash, and churns high free cash flow.


Tuhu Car (9690 HK | BUY | TP:HKD23): Tuhu Goes International, the Next Engine of Growth

<ul><li>O'Reilly Automotive, Inc.'s first quarter 2025 earnings call reveals multiple facets of its current operational and financial health, providing key insights into both performance and strategic direction.</li><li>The company posted a comparable store sales growth of 3.6%, aligning with the high end of expectations.</li><li>This growth stems largely from the professional sector of their business, which showed mid-single-digit improvements, and DIY sales growing in the low single-digits.</li></ul>

O'Reilly Automotive, Inc.'s first quarter 2025 earnings call reveals multiple facets of its current operational and financial health, providing key insights into both performance and strategic direction.The company posted a comparable store sales growth of 3.6%, aligning with the high end of expectations.This growth stems largely from the professional sector of their business, which showed mid-single-digit improvements, and DIY sales growing in the low single-digits.

O'Reilly Automotive’s Pricing Power Play: How It’s Looking To Outplay Weaker Rivals & Winning Market Share!

United States

O'Reilly Automotive, Inc. retails and supplies automotive aftermarket parts, tools, supplies, equipment, and accessories.  The Company sells its products to do-it-yourself customers and professional mechanics or service technicians. O'Reilly operates stores throughout the United States.

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O'Reilly Automotive (ORLY US)

O’Reilly Automotive Leaves Autozone In The Dust—The Valuation Gap Explained!

O’Reilly Automotive has been one of the top-performing retail stocks in 2025, rising over 30% yearto-date and recently trading at $103.47. While...

Baptista Research

O’Reilly Automotive: Tackling Market Penetration Risk in New Regions & Other Key Challenges!

O'Reilly Automotive, Inc. reported noteworthy second quarter 2025 performance, with both positive and negative elements worth considering for...

Baptista Research

Tuhu Car (9690 HK | BUY | TP:HKD23): Tuhu Goes International, the Next Engine of Growth

Tuhu expands to Malaysia, poised to dominate market with strong infrastructure and growth potential, offering a bargain investment opportunity.

Mohshin Aziz

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

O'Reilly Automotive: A Focus On Strategic Geographic Expansion to Capture Higher Market Share & Increase Long-Term Growth Prospects Significantly!

O'Reilly Automotive, Inc. reported its third quarter 2025 results, showing a resilient performance in both sales and profit metrics amidst an...

Baptista Research

O’Reilly Automotive Leaves Autozone In The Dust—The Valuation Gap Explained!

O’Reilly Automotive has been one of the top-performing retail stocks in 2025, rising over 30% yearto-date and recently trading at $103.47. While...

Baptista Research

O’Reilly Automotive: Tackling Market Penetration Risk in New Regions & Other Key Challenges!

O'Reilly Automotive, Inc. reported noteworthy second quarter 2025 performance, with both positive and negative elements worth considering for...

Baptista Research

Tuhu Car (9690 HK | BUY | TP:HKD23): Tuhu Goes International, the Next Engine of Growth

​Tuhu expands to Malaysia, poised to dominate market with strong infrastructure and growth potential, offering a bargain investment opportunity.

Mohshin Aziz

O'Reilly Automotive’s Pricing Power Play: How It’s Looking To Outplay Weaker Rivals & Winning Market Share!

O'Reilly Automotive, Inc.'s first quarter 2025 earnings call reveals multiple facets of its current operational and financial health, providing...

Baptista Research

Tuhu expands to Malaysia, poised to dominate market with strong infrastructure and growth potential, offering a bargain investment opportunity.