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>S&P Global reported robust second-quarter 2026 financial results following the completion of its Mobility division spin-off, highlighting continued strength in its core benchmark businesses—Ratings, Indices, Energy, and Market Intelligence.</li><li>The company achieved 11% total revenue growth year-over-year, with recurring revenue rising 8%, driven primarily by a 15% increase in benchmark-related revenues.</li><li>Earnings per share grew significantly by 23%, supported by disciplined expense management and 200 basis points of margin expansion, leading to an adjusted operating margin of 54.3%.</li></ul>

S&P Global reported robust second-quarter 2026 financial results following the completion of its Mobility division spin-off, highlighting continued strength in its core benchmark businesses—Ratings, Indices, Energy, and Market Intelligence.The company achieved 11% total revenue growth year-over-year, with recurring revenue rising 8%, driven primarily by a 15% increase in benchmark-related revenues.Earnings per share grew significantly by 23%, supported by disciplined expense management and 200 basis points of margin expansion, leading to an adjusted operating margin of 54.3%.

S&P Global Hits A 13th Straight Index Record As Inflows Top $600 Billion!

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>
<a href="https://smartkarma.com/entities/s-p-global-inc">S&amp;P Global </a>holds a dominant market position, underpinned by its wide economic moat in credit ratings and financial benchmarks, which are deeply integrated into global capital markets.</li>
 <li>The company demonstrates a consistent track record of robust financial performance, characterized by strong revenue growth, high margins, and significant cash flow generation, enabling substantial returns to shareholders.</li>
 <li>A key strategic initiative is the planned spin-off of its Mobility segment, which is intended to unlock value, while the company navigates the potential long-term opportunities and disruptive threats presented by artificial intelligence (AI).</li>
</ul>This content is AI-generated and displayed for general informational purposes only. Please verify independently before use.


  
S&amp;P Global holds a dominant market position, underpinned by its wide economic moat in credit ratings and financial benchmarks, which are deeply integrated into global capital markets.
  The company demonstrates a consistent track record of robust financial performance, characterized by strong revenue growth, high margins, and significant cash flow generation, enabling substantial returns to shareholders.
  A key strategic initiative is the planned spin-off of its Mobility segment, which is intended to unlock value, while the company navigates the potential long-term opportunities and disruptive threats presented by artificial intelligence (AI).
This content is AI-generated and displayed for general informational purposes only. Please verify independently before use.

Index Rebalance and Special Situations Coverage, Quiddity Advisors

Anjana Amarasuriya

Index Rebalance and Special Situations Coverage

Quiddity Advisors

Pan-Asia Catalysts/Events

Index Rebalance

<ul>
<li>The SP 500 index tracks the 500 largest (mostly profitable) US-listed names and is one of the most highly-tracked indices in the world.</li>
<li>We expect 2 changes during the September 2026 index rebal event, with three possible intra-review changes before the regular rebalance announcement.</li>
<li>SpaceX's CI/TMI addition on 18 June 2026 does not affect SP 500 eligibility, which we see no earlier than September 2027.</li>
</ul>


The SP 500 index tracks the 500 largest (mostly profitable) US-listed names and is one of the most highly-tracked indices in the world.
We expect 2 changes during the September 2026 index rebal event, with three possible intra-review changes before the regular rebalance announcement.
SpaceX's CI/TMI addition on 18 June 2026 does not affect SP 500 eligibility, which we see no earlier than September 2027.


Quiddity Leaderboard SP500/600 Sep26 Rebal: Two M&A Deals in Play; One Spin-Off ADD Imminent

Founder at Stock Spin-off Investing, Stock Spin-Off Investing

Richard Howe

Founder at Stock Spin-off Investing

Stock Spin-Off Investing

Generate attractive returns by taking advantage of inefficiencies in the stock spin-off market.

Stock Spin-offs

Event-Driven

<ul>
<li>
S&amp;P Global (SPGI) will spin off Mobility Global (MBGL) on Wednesday, July 1, 2026.
</li>
<li>
S&amp;P Global is a high-quality business, long viewed as a compounder with an almost cult-like investor following.
</li>
<li>
The stock has pulled back recently on AI concerns.
</li>
</ul>



S&amp;P Global (SPGI) will spin off Mobility Global (MBGL) on Wednesday, July 1, 2026.


S&amp;P Global is a high-quality business, long viewed as a compounder with an almost cult-like investor following.


The stock has pulled back recently on AI concerns.



S&P Global: A Great Business, but I’m Watching the Spin-off

Adventurous Investing For Grown Ups, The Adventurous Investor

Adventurous Investor

Adventurous Investing For Grown Ups

The Adventurous Investor

Introducing private investors to adventurous investment ideas. What does this mean in practice? I’d identify several core themes: Exchange-traded funds (ETFs) both in the US and the UK. I’ll look both at the theory underlying these very popular funds as well as the constant stream of new launches. I’ll also feature some model portfolios, with a simple mix of ETFs to suit all tastes. Alternative investment ideas. This is a deliberately wide brief but takes in everything from real asset-backed funds (property and infrastructure for instance) through to music and art…and most things in between. I’ll also journey on adventures overseas and look at alternative emerging and frontier countries and markets that should feature in your portfolio. From Russia to Africa and plenty of exciting places in between. For a UK audience I will also continue to regularly analyze and comment on the listed closed-end fund segment and investment trusts. Last but by no means least I’ll try and make sense of the big macro stories that impact investors. I’ll also weave into this my own slightly idiosyncratic views which I’m afraid mark me out as a liberal/ social-democratic inclined centrist Dad (which is I fear sometimes seen as a tag of shame in these radicalized days).

Cross Asset Strategy

<ul><li>This week’s macro calendar is fairly light after last week’s blockbuster US interest rate move.</li><li>The standout release stateside is Wednesday’s S&amp;P Global flash manufacturing and services PMIs for September, which will give investors a good understanding of how growth is holding up post-hike.</li><li>Thursday brings weekly jobless claims and new home sales, but the bigger story that day is the scheduled Trump-Xi summit in Washington.</li></ul>

This week’s macro calendar is fairly light after last week’s blockbuster US interest rate move.The standout release stateside is Wednesday’s S&amp;P Global flash manufacturing and services PMIs for September, which will give investors a good understanding of how growth is holding up post-hike.Thursday brings weekly jobless claims and new home sales, but the bigger story that day is the scheduled Trump-Xi summit in Washington.

Monday Macro: equity markets look more vulnerable, yet earnings are still surging and valuations...

United States

S&P Global Inc. provides clients with financial information services. The Company offers information regarding ratings, benchmarks, and analytics in the global capital and commodity markets. S&P Global operates worldwide.

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S&P Global (SPGI US)

S&P Global Hits A 13th Straight Index Record As Inflows Top $600 Billion!

S&P Global reported robust second-quarter 2026 financial results following the completion of its Mobility division spin-off, highlighting...

Baptista Research

Primer: S&P Global (SPGI US) - Jul 2026

S&P Global holds a dominant market position, underpinned by its wide economic moat in credit ratings and financial benchmarks, which are...

αSK Primers

Quiddity Leaderboard SP500/600 Sep26 Rebal: Two M&A Deals in Play; One Spin-Off ADD Imminent

Honeywell Aerospace (HONA US), the aerospace business spun off from SP 500 member Honeywell International, will be added to the SP 500, replacing...

Anjana Amarasuriya

S&P Global: A Great Business, but I’m Watching the Spin-off

S&P Global (SPGI) will spin off Mobility Global (MBGL) on Wednesday, July 1, 2026. S&P Global is a high-quality business, long viewed as a...

Richard Howe

Monday Macro: equity markets look more vulnerable, yet earnings are still surging and valuations...

The standout release stateside is Wednesday’s S&P Global flash manufacturing and services PMIs for September, which will give investors a good...

Adventurous Investor

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