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

Restaurant Brands Internationa / Equity Bottom-Up

<ul><li>Restaurant Brands International (RBI) reported first-quarter 2026 results reflecting steady progress aligned with their strategic vision announced at Investor Day.</li><li>The company achieved comparable sales growth of 3.2%, system-wide sales growth of 6.2%, and 10.7% organic adjusted operating income (AOI) growth, supported by a 14.6% increase in adjusted earnings per share (EPS).</li><li>A notable element of the quarter was the resumption of share repurchases after over two years, signaling management's confidence in the business momentum.</li></ul>

Restaurant Brands International (RBI) reported first-quarter 2026 results reflecting steady progress aligned with their strategic vision announced at Investor Day.The company achieved comparable sales growth of 3.2%, system-wide sales growth of 6.2%, and 10.7% organic adjusted operating income (AOI) growth, supported by a 14.6% increase in adjusted earnings per share (EPS).A notable element of the quarter was the resumption of share repurchases after over two years, signaling management's confidence in the business momentum.

Restaurant Brands’ $350 Million China Reset — Can Burger King Reaccelerate Growth?

Podcast by Joe Weisenthal & Tracy Alloway, Odd Lots

Odd Lots

Podcast by Joe Weisenthal & Tracy Alloway

Bloomberg's Joe Weisenthal and Tracy Alloway explore the most interesting topics in finance, markets and economics. Join the conversation every Monday and Thursday.

Thematic (Sector/Industry)

<ul><li>McDonald's uses price pack architecture with varying prices for different purchasing methods</li><li>Pricing strategies raise questions about fairness, data privacy, and macroeconomic implications</li><li>Surge pricing in fast food is already present, similar to dynamic pricing in other industries</li></ul><p><em>This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.</em></p>

McDonald's uses price pack architecture with varying prices for different purchasing methodsPricing strategies raise questions about fairness, data privacy, and macroeconomic implicationsSurge pricing in fast food is already present, similar to dynamic pricing in other industriesThis content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.

Corporations Learned The Maximum Amount They Can Charge For a Product

Head of Research, IPOs & Placements, Aequitas Research

Sumeet Singh

Head of Research, IPOs & Placements

IPOs and Placements coverage across Asia Pacific

Aequitas Research

We cover all listing across the Asia Pacific along with follow-up placements. As of Dec 2020, our team had covered 539 IPOs with a hit rate of 73.5% and 685 placements with a hit rate of 66.8%.

We combine fundamental bottom-up views with our proprietary quantitative framework to provide a holistic coverage across new listings and placements. Our coverage includes pre-IPO notes before the deal is launched, follow-up analysis once the deal is live and post-listing trading analysis as well.

Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/guzman-y-gomez" target="_blank" data-smartkarma-citation="entities:43656:1" rel="noopener">Guzman Y Gomez</a> plans to raise around US$160m in its Australian IPO.</li>
<li>GYG is a quick service restaurant business with more than 200 restaurants globally. It mainly focuses on fresh, made-to-order, Mexican-inspired food.</li>
<li>In this note, we talk about the not-so-positive aspects of the deal.</li>
</ul>



Guzman Y Gomez plans to raise around US$160m in its Australian IPO.
GYG is a quick service restaurant business with more than 200 restaurants globally. It mainly focuses on fresh, made-to-order, Mexican-inspired food.
In this note, we talk about the not-so-positive aspects of the deal.


Guzman Y Gomez IPO - The Negatives - Lawsuits and Management Churn

<ul><li>Restaurant Brands International reported its fourth quarter and full year 2025 financial results with a combination of achievements and challenges as the company continues to navigate the constantly evolving quick-service restaurant (QSR) landscape.</li><li>The results indicate a balanced interplay of positive advancements in operational execution and financial pressures, reflecting the company's strategic realignments and regional strategies.</li><li>The company experienced comparable sales growth of 2.4%, along with net restaurant growth of 2.9%, resulting in system-wide sales growth of 5.3%.</li></ul>

Restaurant Brands International reported its fourth quarter and full year 2025 financial results with a combination of achievements and challenges as the company continues to navigate the constantly evolving quick-service restaurant (QSR) landscape.The results indicate a balanced interplay of positive advancements in operational execution and financial pressures, reflecting the company's strategic realignments and regional strategies.The company experienced comparable sales growth of 2.4%, along with net restaurant growth of 2.9%, resulting in system-wide sales growth of 5.3%.

Restaurant Brands International Is Rebuilding Burger King (QSR) — Is the U.S. Turnaround Finally Gaining Traction?

<ul><li>Restaurant Brands International (RBI) reported a solid performance for the third quarter of 2025, achieving organic adjusted operating income growth of 8.8% and a system-wide sales increase of 6.9%.</li><li>This was led by gains in its core brands, Tim Hortons, Burger King, and Popeyes, amidst a challenging consumer environment.</li><li>The company has highlighted both positive outcomes and ongoing challenges within its business units.</li></ul>

Restaurant Brands International (RBI) reported a solid performance for the third quarter of 2025, achieving organic adjusted operating income growth of 8.8% and a system-wide sales increase of 6.9%.This was led by gains in its core brands, Tim Hortons, Burger King, and Popeyes, amidst a challenging consumer environment.The company has highlighted both positive outcomes and ongoing challenges within its business units.

Restaurant Brands International Fires Up Growth: Can the Whopper Lead a Flame-Grilled Comeback?

Canada

Restaurant Brands International Inc. operates as a fast food restaurant. The Company offers delicious food restaurant brands products such as coffee, fried chicken, subs, and burgers, as well as provides delivery services. Restaurant Brands International serves customers in Canada and United States.

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Restaurant Brands Internationa (QSR US)

Restaurant Brands’ $350 Million China Reset — Can Burger King Reaccelerate Growth?

Restaurant Brands International (RBI) reported first-quarter 2026 results reflecting steady progress aligned with their strategic vision announced...

Baptista Research

Corporations Learned The Maximum Amount They Can Charge For a Product

Odd Lots podcast explores pricing strategies, including McDonald's variable pricing based on ordering methods, with discussions on fairness, value...

Odd Lots

Guzman Y Gomez IPO - The Negatives - Lawsuits and Management Churn

Guzman Y Gomez plans to raise around US$160m in its Australian IPO. In this note, we talk about the not-so-positive aspects of the deal.

Sumeet Singh

Restaurant Brands International Is Rebuilding Burger King (QSR) — Is the U.S. Turnaround Finally Gaining Traction?

Restaurant Brands International reported its fourth quarter and full year 2025 financial results with a combination of achievements and challenges...

Baptista Research

Restaurant Brands International Fires Up Growth: Can the Whopper Lead a Flame-Grilled Comeback?

Restaurant Brands International (RBI) reported a solid performance for the third quarter of 2025, achieving organic adjusted operating income...

Baptista Research

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