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>Rocket Lab Corporation reported a record-breaking third quarter of 2025, highlighting significant year-on-year revenue growth of 48%, reaching $155 million.</li><li>This marks the second consecutive quarter of record growth, propelled by heightened demand for its Electron launch vehicle, which reported its highest-ever contract backlog of 49 launches.</li><li>Positively, the company sees robust demand from international customers, indicating strong global adoption of its services.</li></ul>

Rocket Lab Corporation reported a record-breaking third quarter of 2025, highlighting significant year-on-year revenue growth of 48%, reaching $155 million.This marks the second consecutive quarter of record growth, propelled by heightened demand for its Electron launch vehicle, which reported its highest-ever contract backlog of 49 launches.Positively, the company sees robust demand from international customers, indicating strong global adoption of its services.

Rocket Lab Is Quietly Building A Space Systems Empire—And It’s About to Pay Off Big!

<ul><li>Rocket Lab has taken a significant strategic step toward becoming a fully vertically integrated space company with its intent to acquire a controlling stake in Mynaric AG, a German-based laser communications provider.</li><li>The deal, still subject to regulatory and restructuring approvals, comes on the heels of Rocket Lab's Q2 2025 earnings, where the company reported $39.6 million in revenue and reiterated its commitment to expanding across the entire space value chain.</li><li>If completed, the acquisition will give Rocket Lab access to Mynaric's production capabilities, intellectual property, and workforce of over 300 engineers.</li></ul>

Rocket Lab has taken a significant strategic step toward becoming a fully vertically integrated space company with its intent to acquire a controlling stake in Mynaric AG, a German-based laser communications provider.The deal, still subject to regulatory and restructuring approvals, comes on the heels of Rocket Lab's Q2 2025 earnings, where the company reported $39.6 million in revenue and reiterated its commitment to expanding across the entire space value chain.If completed, the acquisition will give Rocket Lab access to Mynaric's production capabilities, intellectual property, and workforce of over 300 engineers.

Rocket Lab Corp’s Mynaric Bid Could Upend The Satellite Industry!

<ul><li>Rocket Lab Corporation's recent quarterly financial disclosures portray a period of positive revenue growth, coming in at $144.5 million, a 36% increase compared to the same period last year.</li><li>This figure is notably above the high end of Rocket Lab's prior guidance, signifying robust demand and operational execution, with growth driven by both the Space Systems and Launch Services segments.</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>

Rocket Lab Corporation's recent quarterly financial disclosures portray a period of positive revenue growth, coming in at $144.5 million, a 36% increase compared to the same period last year.This figure is notably above the high end of Rocket Lab's prior guidance, signifying robust demand and operational execution, with growth driven by both the Space Systems and Launch Services segments.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.

Rocket Lab USA: Neutron Rocket Development to Amplify Revenue Opportunities & Market Competitiveness!

Investigative Investment Research, Bleecker Street Capital

Bleecker Street Research

Investigative Investment Research

Bleecker Street Capital

Bleecker Street Capital is a short-biased investment firm.

<ul><li>Rocket Lab (RKLB) is a rocket development and space systems company that has seen shares rise 485% over the last year to a $11.2 billion valuation, propelled by investor and analyst excitement over the upcoming launch of Neutron, a medium-lift rocket that RKLB hopes will compete with SpaceX’s Falcon 9. </li><li>We believe that RKLB has materially misled investors about the likelihood that its Neutron rocket will launch in mid-2025, a timeline the company has repeatedly claimed in media interviews and on earnings calls. In fact, rocket experts we spoke to put the timeline of a rocket launch from mid-2026 to mid-2027, a one to two year delay.</li><li>Many aspects of RKLB’s Neutron program remain far behind where they need to be: from engine development, to engine and structure production, to launch pad construction, to rocket transport to the launch site, per documents we reviewed and 23 interviews with industry experts, including former Rocket Lab engineers and executives. </li></ul>

Rocket Lab (RKLB) is a rocket development and space systems company that has seen shares rise 485% over the last year to a $11.2 billion valuation, propelled by investor and analyst excitement over the upcoming launch of Neutron, a medium-lift rocket that RKLB hopes will compete with SpaceX’s Falcon 9. We believe that RKLB has materially misled investors about the likelihood that its Neutron rocket will launch in mid-2025, a timeline the company has repeatedly claimed in media interviews and on earnings calls. In fact, rocket experts we spoke to put the timeline of a rocket launch from mid-2026 to mid-2027, a one to two year delay.Many aspects of RKLB’s Neutron program remain far behind where they need to be: from engine development, to engine and structure production, to launch pad construction, to rocket transport to the launch site, per documents we reviewed and 23 interviews with industry experts, including former Rocket Lab engineers and executives. 

Rocket Lab (RKLB):We Think It’s Going To Be A Long, Long Tim

Financial sector veteran, KT Capital Group

Fern Wang

Financial sector veteran

KT Capital Group

Principal investments and advisory firm that focuses on connecting the CIS countries with East Asia.

Principal investments and advisory firm

<ul>
<li>
Market Euphoria and Investment Challenges: Trump’s re-election has fueled excitement in the stock market, especially for Elon Musk-linked companies, but investing in SpaceX remains difficult due to its private status.  </li>
<li>
Proxy Stocks: Investors can access SpaceX indirectly through proxy stocks like Rocket Lab (RKLB) or funds such as Destiny Tech100 Inc. (DXYZ) and the ARK Venture Fund (ARKVX). </li>
<li>
Valuation Concerns on DXYZ: Despite DXYZ’s significant outperformance compared to other proxies, its rapidly expanded market cap/fair value multiple raises concerns about overvaluation and stock price sustainability.</li>
</ul>



Market Euphoria and Investment Challenges: Trump’s re-election has fueled excitement in the stock market, especially for Elon Musk-linked companies, but investing in SpaceX remains difficult due to its private status.  

Proxy Stocks: Investors can access SpaceX indirectly through proxy stocks like Rocket Lab (RKLB) or funds such as Destiny Tech100 Inc. (DXYZ) and the ARK Venture Fund (ARKVX). 

Valuation Concerns on DXYZ: Despite DXYZ’s significant outperformance compared to other proxies, its rapidly expanded market cap/fair value multiple raises concerns about overvaluation and stock price sustainability.


United States

Rocket Lab USA, Inc. operates as a space systems company. The Company manufactures spacecraft and satellite components, as well as satellite launch and on-orbit management services. Rocket Lab USA serves customers in the United States.

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

Rocket Lab USA (RKLB US)

Rocket Lab Is Quietly Building A Space Systems Empire—And It’s About to Pay Off Big!

Rocket Lab Corporation reported a record-breaking third quarter of 2025, highlighting significant year-on-year revenue growth of 48%, reaching...

Baptista Research

Rocket Lab Corp’s Mynaric Bid Could Upend The Satellite Industry!

Rocket Lab has taken a significant strategic step toward becoming a fully vertically integrated space company with its intent to acquire a...

Baptista Research

Rocket Lab USA: Neutron Rocket Development to Amplify Revenue Opportunities & Market Competitiveness!

Rocket Lab Corporation's recent quarterly financial disclosures portray a period of positive revenue growth, coming in at $144.5 million, a 36%...

Baptista Research

Rocket Lab (RKLB):We Think It’s Going To Be A Long, Long Tim

Rocket Lab (RKLB) is a rocket development and space systems company that has seen shares rise 485% over the last year to a $11.2 billion...

Bleecker Street Research

Destiny XYZ Is Destined to Crash

Investors excited about SpaceX's potential through proxy stocks like RKLB and DXYZ, but valuation concerns linger over DXYZ's market cap.

Fern Wang

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Rocket Lab Is Quietly Building A Space Systems Empire—And It’s About to Pay Off Big!

Rocket Lab Corporation reported a record-breaking third quarter of 2025, highlighting significant year-on-year revenue growth of 48%, reaching...

Baptista Research

Rocket Lab Corp’s Mynaric Bid Could Upend The Satellite Industry!

Rocket Lab has taken a significant strategic step toward becoming a fully vertically integrated space company with its intent to acquire a...

Baptista Research

Rocket Lab USA: Neutron Rocket Development to Amplify Revenue Opportunities & Market Competitiveness!

Rocket Lab Corporation's recent quarterly financial disclosures portray a period of positive revenue growth, coming in at $144.5 million, a 36%...

Baptista Research

Rocket Lab (RKLB):We Think It’s Going To Be A Long, Long Tim

Rocket Lab (RKLB) is a rocket development and space systems company that has seen shares rise 485% over the last year to a $11.2 billion...

Bleecker Street Research

Destiny XYZ Is Destined to Crash

​Investors excited about SpaceX's potential through proxy stocks like RKLB and DXYZ, but valuation concerns linger over DXYZ's market cap.

Fern Wang

Investors excited about SpaceX's potential through proxy stocks like RKLB and DXYZ, but valuation concerns linger over DXYZ's market cap.