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>Pentair reported second-quarter fiscal 2026 results characterized by a notable decline in its Pool segment, which was partially offset by solid performances in its Flow and Water Solutions segments.</li><li>Overall sales reached $933 million, down 17% year-over-year on a core basis primarily due to a substantial $170 million inventory destocking in the Pool channel.</li><li>Adjusted operating income totaled $237 million with a return on sales of 25.4%, and adjusted earnings per share came in at $1.14, slightly exceeding prior guidance.</li></ul>

Pentair reported second-quarter fiscal 2026 results characterized by a notable decline in its Pool segment, which was partially offset by solid performances in its Flow and Water Solutions segments.Overall sales reached $933 million, down 17% year-over-year on a core basis primarily due to a substantial $170 million inventory destocking in the Pool channel.Adjusted operating income totaled $237 million with a return on sales of 25.4%, and adjusted earnings per share came in at $1.14, slightly exceeding prior guidance.

Pentair Goes All-In On Commercial Water With The $1.4 Billion Taco Acquisition!

Smartkarma AI Primers, Smartkarma

αSK Primers

Smartkarma AI Primers

Smartkarma

Smartkarma unites the fragmented investment industry, connecting institutional investors, independent research providers, and corporates within a single network.

Research Reinvented

<ul>
  <li>Pentair holds a dominant market position in the North American pool equipment market, a duopoly shared with Hayward, which provides a strong competitive moat through brand recognition and a large installed base that generates recurring aftermarket revenue.</li>
  <li>The company is facing near-term headwinds in its Pool segment due to channel inventory destocking and softer consumer demand, which has led to downward revisions in sales guidance.</li>
  <li>Management is focused on driving margin expansion through transformation initiatives and strategic acquisitions, such as the recent agreement to acquire Taco Group, to enhance exposure to high-growth end-markets like HVAC and data centers.</li>
</ul><p><em>This content is AI-generated and displayed for general informational purposes only. Please verify independently before use.</em></p>


  Pentair holds a dominant market position in the North American pool equipment market, a duopoly shared with Hayward, which provides a strong competitive moat through brand recognition and a large installed base that generates recurring aftermarket revenue.
  The company is facing near-term headwinds in its Pool segment due to channel inventory destocking and softer consumer demand, which has led to downward revisions in sales guidance.
  Management is focused on driving margin expansion through transformation initiatives and strategic acquisitions, such as the recent agreement to acquire Taco Group, to enhance exposure to high-growth end-markets like HVAC and data centers.
This content is AI-generated and displayed for general informational purposes only. Please verify independently before use.

<ul><li>Pentair delivered a robust performance in Q4 and the full year of 2025, demonstrating operational resilience and strategic execution.</li><li>The company achieved a 5% sales growth in Q4, and a 9% increase in adjusted operating profit, highlighting a consistent focus on executing strategic priorities.</li><li>This period marked the 15th consecutive quarter of margin expansion, reflecting the effectiveness of the Pentair Business System and continuous improvement culture.</li></ul>

Pentair delivered a robust performance in Q4 and the full year of 2025, demonstrating operational resilience and strategic execution.The company achieved a 5% sales growth in Q4, and a 9% increase in adjusted operating profit, highlighting a consistent focus on executing strategic priorities.This period marked the 15th consecutive quarter of margin expansion, reflecting the effectiveness of the Pentair Business System and continuous improvement culture.

Pentair: Flat Pool Market Today — Can Automation Drive Tomorrow’s Upside?

<ul><li>Pentair reported its third quarter 2025 results, demonstrating a mix of growth and strategic shifts.</li><li>The company achieved record figures in several financial metrics, including adjusted operating income, return on sales (ROS), and adjusted earnings per share (EPS).</li><li>The sales growth of 3% was mainly driven by the Pool and Flow segments.</li></ul>

Pentair reported its third quarter 2025 results, demonstrating a mix of growth and strategic shifts.The company achieved record figures in several financial metrics, including adjusted operating income, return on sales (ROS), and adjusted earnings per share (EPS).The sales growth of 3% was mainly driven by the Pool and Flow segments.

Pentair’s Innovation Drive—Can Smart Water Solutions Keep It Ahead of Rivals?

IPOs and Catalysts/Events, Global Equity Research Ltd

Arun George

IPOs and Catalysts/Events

Uncompromised, Independent, Conflict-Free Research

Global Equity Research Ltd

Global Equity Research was started in 2017 by a group of experienced research professionals. It was founded on a passionate belief in the importance and the need for uncompromised, independent, conflict-free research. We aim to provide differentiated and actionable primary and bottom up fundamental research.

Event-Driven

<ul>
<li>
<a href="https://www.smartkarma.com/entities/reliance-worldwide-corp-ltd" target="_blank" data-smartkarma-citation="entities:22690:1" rel="noopener">Reliance Worldwide Corp (RWC AU)</a> has disclosed a binding proposal from Brookfield at US$3.38 (A$4.75), a 31.5% premium to the undisturbed price.</li>
<li>The required regulatory approvals are low-risk. AusSuper, with a potentially blocking stake, has yet to disclose its voting intentions. This is the primary source of uncertainty for the scheme. </li>
<li>RWC's Go-Shop was built with the Origin precedent in mind. While not neutralising the risk, it makes it harder for AusSuper to argue that the board didn't test the market.  </li>
</ul>



Reliance Worldwide Corp (RWC AU) has disclosed a binding proposal from Brookfield at US$3.38 (A$4.75), a 31.5% premium to the undisturbed price.
The required regulatory approvals are low-risk. AusSuper, with a potentially blocking stake, has yet to disclose its voting intentions. This is the primary source of uncertainty for the scheme. 
RWC's Go-Shop was built with the Origin precedent in mind. While not neutralising the risk, it makes it harder for AusSuper to argue that the board didn't test the market.  


Reliance Worldwide (RWC AU): Brookfield’s Binding Offer with a Go-Shop Period to Placate AusSuper

United States

Pentair PLC delivers services and solutions for its customer's diverse needs in water and other fluids, thermal management and equipment protection. The Company is organized as three operating segments: Water & Fluid Solutions; Valves & Controls; and Technical Solutions. Pentair manufactures and distributes its products worldwide.

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Pentair Plc (PNR US)

Pentair Goes All-In On Commercial Water With The $1.4 Billion Taco Acquisition!

Pentair reported second-quarter fiscal 2026 results characterized by a notable decline in its Pool segment, which was partially offset by solid...

Baptista Research

Primer: Pentair Plc (PNR US) - Jul 2026

Pentair holds a dominant market position in the North American pool equipment market, a duopoly shared with Hayward, which provides a strong...

αSK Primers

Pentair: Flat Pool Market Today — Can Automation Drive Tomorrow’s Upside?

Pentair delivered a robust performance in Q4 and the full year of 2025, demonstrating operational resilience and strategic execution. The company...

Baptista Research

Pentair’s Innovation Drive—Can Smart Water Solutions Keep It Ahead of Rivals?

Pentair reported its third quarter 2025 results, demonstrating a mix of growth and strategic shifts. The company achieved record figures in...

Baptista Research

Reliance Worldwide (RWC AU): Brookfield’s Binding Offer with a Go-Shop Period to Placate AusSuper

RWC's Go-Shop was built with the Origin precedent in mind. While not neutralising the risk, it makes it harder for AusSuper to argue that the board...

Arun George

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