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

Royal Dutch Shell Plc (Adr) / Equity Bottom-Up

<ul><li>Royal Dutch Shell plc reported a strong financial performance in the first quarter of 2026 despite ongoing macroeconomic volatility and uncertainties linked to the Middle East conflict.</li><li>The company posted adjusted earnings of nearly $7 billion and generated more than $17 billion in cash flow from operations before working capital changes.</li><li>However, a working capital outflow of approximately $11 billion, influenced largely by elevated commodity prices on inventory and receivables, weighed on liquidity, though Shell anticipates much of this to normalize over time.</li></ul>

Royal Dutch Shell plc reported a strong financial performance in the first quarter of 2026 despite ongoing macroeconomic volatility and uncertainties linked to the Middle East conflict.The company posted adjusted earnings of nearly $7 billion and generated more than $17 billion in cash flow from operations before working capital changes.However, a working capital outflow of approximately $11 billion, influenced largely by elevated commodity prices on inventory and receivables, weighed on liquidity, though Shell anticipates much of this to normalize over time.

Shell’s Upstream Powerhouse: Brazil, Bonga And Mars Drive A Strong Production Reset!

<ul><li>Shell's recent earnings call for the fourth quarter and full-year 2025 highlights both promising developments and areas requiring attention.</li><li>Here is a comprehensive analysis of Shell's current positioning, strategically and financially.</li><li>On the positive side, Shell has successfully achieved its structural cost reduction target of $5.1 billion, reaching its 2028 goal three years early.</li></ul>

Shell's recent earnings call for the fourth quarter and full-year 2025 highlights both promising developments and areas requiring attention.Here is a comprehensive analysis of Shell's current positioning, strategically and financially.On the positive side, Shell has successfully achieved its structural cost reduction target of $5.1 billion, reaching its 2028 goal three years early.

Shell plc Reallocates Capital Toward High-Performance Segments—A Structural ROACE Play?

<ul><li>Shell's third-quarter results for 2025 present a nuanced picture encompassing both positive developments and areas of concern.</li><li>On the positive side, the company reported robust financial performance with adjusted earnings of $5.4 billion and operating cash flow of $12.2 billion.</li><li>These figures highlight strong operational performance and increased efficiency across various sectors of the business, notably in the Integrated Gas and Upstream segments.</li></ul>

Shell's third-quarter results for 2025 present a nuanced picture encompassing both positive developments and areas of concern.On the positive side, the company reported robust financial performance with adjusted earnings of $5.4 billion and operating cash flow of $12.2 billion.These figures highlight strong operational performance and increased efficiency across various sectors of the business, notably in the Integrated Gas and Upstream segments.

Shell plc: Growth in Integrated Gas and LNG Portfolio

<ul><li>Royal Dutch Shell's second-quarter 2025 financial results reflect a company grappling with challenging macroeconomic conditions yet demonstrating resilience and strategic focus.</li><li>The external environment painted a complex picture, influenced by geopolitical uncertainties and fluctuating commodity prices, which impacted trade flows and margins.</li><li>Nevertheless, Shell delivered strong operational performance and significant cost reductions, affirming its commitment to strategic objectives set out at the Capital Markets Day (CMD) in March.</li></ul>

Royal Dutch Shell's second-quarter 2025 financial results reflect a company grappling with challenging macroeconomic conditions yet demonstrating resilience and strategic focus.The external environment painted a complex picture, influenced by geopolitical uncertainties and fluctuating commodity prices, which impacted trade flows and margins.Nevertheless, Shell delivered strong operational performance and significant cost reductions, affirming its commitment to strategic objectives set out at the Capital Markets Day (CMD) in March.

Shell Strikes Gold With Strategic Partnerships—Is Asset Optimization the Next Big Payoff?

Netherlands

Royal Dutch Shell PLC, through subsidiaries, explores for, produces, and refines petroleum.  The Company produces fuels, chemicals, and lubricants. Shell owns and operates gasoline filling stations worldwide.

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Royal Dutch Shell Plc (Adr) (RDS/A US)

Shell’s Upstream Powerhouse: Brazil, Bonga And Mars Drive A Strong Production Reset!

Royal Dutch Shell plc reported a strong financial performance in the first quarter of 2026 despite ongoing macroeconomic volatility and...

Baptista Research

Shell’s Upstream Powerhouse: Brazil, Bonga And Mars Drive A Strong Production Reset!

Royal Dutch Shell plc reported a strong financial performance in the first quarter of 2026 despite ongoing macroeconomic volatility and...

Baptista Research

Shell plc Reallocates Capital Toward High-Performance Segments—A Structural ROACE Play?

Shell's recent earnings call for the fourth quarter and full-year 2025 highlights both promising developments and areas requiring attention. Here...

Baptista Research

Shell plc: Growth in Integrated Gas and LNG Portfolio

Shell's third-quarter results for 2025 present a nuanced picture encompassing both positive developments and areas of concern. On the positive...

Baptista Research

Shell Strikes Gold With Strategic Partnerships—Is Asset Optimization the Next Big Payoff?

Royal Dutch Shell's second-quarter 2025 financial results reflect a company grappling with challenging macroeconomic conditions yet demonstrating...

Baptista Research

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