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>Procter & Gamble Company’s latest quarterly discussion reflected a clear improvement in organic sales momentum, but also showed a more complicated cost and margin backdrop heading into the next fiscal year.</li><li>Organic sales increased more than 3%, with volume contributing 2 points, pricing adding 1 point and mix flat.</li><li>Growth was broad-based across all 10 product categories and all 7 regions, with North America up 4%, Greater China up 3%, enterprise markets up 5% and Latin America up 5%.</li></ul>

Procter & Gamble Company’s latest quarterly discussion reflected a clear improvement in organic sales momentum, but also showed a more complicated cost and margin backdrop heading into the next fiscal year.Organic sales increased more than 3%, with volume contributing 2 points, pricing adding 1 point and mix flat.Growth was broad-based across all 10 product categories and all 7 regions, with North America up 4%, Greater China up 3%, enterprise markets up 5% and Latin America up 5%.

Can Procter & Gamble (P&G) Offset A $1.3 Billion Oil Headwind Through Productivity Alone?

<ul><li>Procter & Gamble (P&G) presented a mixed financial performance in their latest earnings call for the second quarter of fiscal 2026.</li><li>The company reported organic sales in line with the previous year, with a 1% decline in volume and a 1% increase in pricing, maintaining a flat mix.</li><li>Out of their product categories, seven out of ten either held or grew organic sales, notably Hair Care with mid-single digits growth and Skin and Personal Care, Personal Health Care, Home Care, and Oral Care with low single-digit increases.</li></ul>

Procter & Gamble (P&G) presented a mixed financial performance in their latest earnings call for the second quarter of fiscal 2026.The company reported organic sales in line with the previous year, with a 1% decline in volume and a 1% increase in pricing, maintaining a flat mix.Out of their product categories, seven out of ten either held or grew organic sales, notably Hair Care with mid-single digits growth and Skin and Personal Care, Personal Health Care, Home Care, and Oral Care with low single-digit increases.

Procter & Gamble’s E-Commerce Push Is Exploding—Can Online Share Gains Become a Powerful Growth Engine?

<ul><li>Procter & Gamble reported its fiscal first-quarter results for 2026, showcasing consistent organic sales growth for 40 consecutive quarters and core EPS growth for ten consecutive years.</li><li>The quarter saw a 2% organic sales increase, bolstered by a 1% rise in both pricing and mix.</li><li>Despite facing a challenging macroeconomic environment, sales were broadly stable with 8 out of 10 product categories maintaining or increasing sales.</li></ul>

Procter & Gamble reported its fiscal first-quarter results for 2026, showcasing consistent organic sales growth for 40 consecutive quarters and core EPS growth for ten consecutive years.The quarter saw a 2% organic sales increase, bolstered by a 1% rise in both pricing and mix.Despite facing a challenging macroeconomic environment, sales were broadly stable with 8 out of 10 product categories maintaining or increasing sales.

Procter & Gamble’s Strategic Makeover: Will P&G's Combination of Marketing

Quality-first, Business-perspective, Long-term, Urbem (HK) Limited

Urbem Capital

Quality-first, Business-perspective, Long-term

Quality-first, Business-perspective Strategy

Urbem (HK) Limited

<ul>
<li>Eighteen S&amp;P 500 giants earned 20%-plus ROE through the 1990s; fourteen then trailed the index into 2026, the median by about 2.7 points a year.</li>
<li>Rich starting multiples, maturing runways, eroding moats and costly deals did the damage, while leverage and buybacks had flattered some of the returns on capital.</li>
<li>Microsoft renewed its runway and Altria started cheap; today's high-return screens should ask whether returns are still rising and whether the price still allows low-teens returns.</li>
</ul>


Eighteen S&amp;P 500 giants earned 20%-plus ROE through the 1990s; fourteen then trailed the index into 2026, the median by about 2.7 points a year.
Rich starting multiples, maturing runways, eroding moats and costly deals did the damage, while leverage and buybacks had flattered some of the returns on capital.
Microsoft renewed its runway and Altria started cheap; today's high-return screens should ask whether returns are still rising and whether the price still allows low-teens returns.


After They Were Giants: Why 2000's High-Return Stocks Mostly Lagged for 25 Years

Research and consultancy, Tabbush Report

Daniel Tabbush

Research and consultancy

Tabbush Report

We provide research and consultancy on Asian banks. Our focus is on what we call “Asian bank research, without the noise.” We are interested in the most critical swing-factors for banks, the NPL and credit cycle, and where we believe there is a gap between perception and reality. We often focus on the less studied components of bank financial statements.  Our research is highly thematic, sometimes examining unlisted banks and companies as a window on mainstream banks. 

Being independent allows us to look at smaller banks, often overlooked by others. Analysis of BIS bank guidelines in the context of Asia, is also a focal point, while we also analyze global banks operating in the region. We use what we believe is the most comprehensive, reliable financials database, SNL Financial. S&P Capital IQ augments our database, with corporate data and CEIC, with economics. 

Asian bank research, without the noise.

Thematic (Sector/Industry)

<ul>
<li>The amount of deposits in the US banking system are substantial in absolute terms and compared with recent periods and older periods</li>
<li>Of the USD17.4tr in deposits in the US banking system, 86% is liquid, available to access</li>
<li>Alongside concerns about the S&amp;P 500 Index or the broad US stock market, we believe it is worthwhile to keep in mind the amount of depositor liquidity</li>
</ul>


The amount of deposits in the US banking system are substantial in absolute terms and compared with recent periods and older periods
Of the USD17.4tr in deposits in the US banking system, 86% is liquid, available to access
Alongside concerns about the S&amp;P 500 Index or the broad US stock market, we believe it is worthwhile to keep in mind the amount of depositor liquidity


US Stock Market - US Banks Have Total Deposits of USD17.4tr, Which Was USD3-4tr ~30 Yrs Ago

United States

The Procter & Gamble Company manufactures and markets consumer products in countries throughout the world. The Company provides products in the laundry and cleaning, paper, beauty care, food and beverage, and health care segments. Procter & Gamble products are sold primarily through mass merchandisers, grocery stores, membership club stores, drug stores, and neighborhood stores.

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

Procter & Gamble Co (PG US)

Can Procter & Gamble (P&G) Offset A $1.3 Billion Oil Headwind Through Productivity Alone?

Procter & Gamble Company’s latest quarterly discussion reflected a clear improvement in organic sales momentum, but also showed a more...

Baptista Research

Procter & Gamble’s Strategic Makeover: Will P&G's Combination of Marketing

Procter & Gamble reported its fiscal first-quarter results for 2026, showcasing consistent organic sales growth for 40 consecutive quarters...

Baptista Research

After They Were Giants: Why 2000's High-Return Stocks Mostly Lagged for 25 Years

In 2000, America's highest-return giants looked like the safest quality stocks. Most then lagged the market for 25 years. Several warning signs...

Urbem Capital

US Stock Market - US Banks Have Total Deposits of USD17.4tr, Which Was USD3-4tr ~30 Yrs Ago

Total deposits now USD18.5 trillion at 26 November. This is up ~USD663 billion during this year alone. There remains plenty of liquidity in low...

Daniel Tabbush

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Can Procter & Gamble (P&G) Offset A $1.3 Billion Oil Headwind Through Productivity Alone?

Procter & Gamble Company’s latest quarterly discussion reflected a clear improvement in organic sales momentum, but also showed a more...

Baptista Research

Procter & Gamble’s E-Commerce Push Is Exploding—Can Online Share Gains Become a Powerful Growth Engine?

Procter & Gamble (P&G) presented a mixed financial performance in their latest earnings call for the second quarter of fiscal 2026. The...

Baptista Research

Procter & Gamble’s Strategic Makeover: Will P&G's Combination of Marketing

Procter & Gamble reported its fiscal first-quarter results for 2026, showcasing consistent organic sales growth for 40 consecutive quarters...

Baptista Research

After They Were Giants: Why 2000's High-Return Stocks Mostly Lagged for 25 Years

In 2000, America's highest-return giants looked like the safest quality stocks. Most then lagged the market for 25 years. Several warning signs...

Urbem Capital

US Stock Market - US Banks Have Total Deposits of USD17.4tr, Which Was USD3-4tr ~30 Yrs Ago

Total deposits now USD18.5 trillion at 26 November. This is up ~USD663 billion during this year alone. There remains plenty of liquidity in low...

Daniel Tabbush