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>Transocean's first quarter results for 2025 present a mixed picture of financial performance and strategic positioning.</li><li>The company reported adjusted EBITDA of $244 million on contract drilling revenues of $906 million, resulting in an EBITDA margin of approximately 27%.</li><li>This indicates a relatively stable operational milieu, supported by notable contract extensions such as the one-year extension option for the Deepwater Asgard and a $40 million backlog from contract extensions on the Transocean Equinox.</li></ul>

Transocean's first quarter results for 2025 present a mixed picture of financial performance and strategic positioning.The company reported adjusted EBITDA of $244 million on contract drilling revenues of $906 million, resulting in an EBITDA margin of approximately 27%.This indicates a relatively stable operational milieu, supported by notable contract extensions such as the one-year extension option for the Deepwater Asgard and a $40 million backlog from contract extensions on the Transocean Equinox.

Transocean Ltd.: Will Its Rebound in Offshore Drilling Activity Bring A Shift In The Competitive Dynamics?

<ul><li>Transocean's latest financial results showcase a complex landscape with mixed implications that investors should consider carefully.</li><li>For the fourth quarter of 2024, Transocean reported adjusted EBITDA of $323 million from $952 million in contract drilling revenues, reflecting an EBITDA margin of approximately 34%.</li><li>For the full year, the company achieved adjusted EBITDA of $1.15 billion on $3.5 billion in revenues, with a slightly lower margin of 33%.</li></ul>

Transocean's latest financial results showcase a complex landscape with mixed implications that investors should consider carefully.For the fourth quarter of 2024, Transocean reported adjusted EBITDA of $323 million from $952 million in contract drilling revenues, reflecting an EBITDA margin of approximately 34%.For the full year, the company achieved adjusted EBITDA of $1.15 billion on $3.5 billion in revenues, with a slightly lower margin of 33%.

Seadrill Ltd - Transocean Ltd.: Market Dynamics & Strategic Positioning Fueling Our Positivity!

Founder, BWS Financial Inc

Hamed Khorsand

Founder

Independent Stock Specific Research

BWS Financial Inc

BWS provides independent stock specific research focused on companies with distinct value that are going through a special situation where there is a tangible catalyst not priced in. The catalyst can be anything from new product, restructuring, M&A, management change, change in business strategy, etc. BWS’s focus is to understand the change and evaluate the potential return for investors.

BWS utilizes a self formed proprietary approach in discovering stocks by putting great emphasis on deep research. BWS does generate short recommendations following a similar criteria.

<ul>
<li>SDRL reaffirmed contract activity remained sluggish even though the Company is 70 percent contracted through the end of 2025. Day rates have not compressed. </li>
<li>SDRL has managed through 2024 with less of its fleet operating than desired due to special surveys and mobilization of two rigs to Brazil.</li>
<li>For 2025, SDRL should have two rigs (West Auriga and West Polaris) operating in Brazil giving the Company the ability to grow adjusted EBITDA. </li>
</ul>


SDRL reaffirmed contract activity remained sluggish even though the Company is 70 percent contracted through the end of 2025. Day rates have not compressed. 
SDRL has managed through 2024 with less of its fleet operating than desired due to special surveys and mobilization of two rigs to Brazil.
For 2025, SDRL should have two rigs (West Auriga and West Polaris) operating in Brazil giving the Company the ability to grow adjusted EBITDA. 


<ul><li>Transocean's Third Quarter 2024 earnings revealed a mix of robust financial performance, operational challenges, and strategic positioning in the market.</li><li>The company generated $948 million in contract drilling revenues with an adjusted EBITDA of $342 million and an EBITDA margin approximately 36%, indicating strong profitability in its operations.</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>

Transocean's Third Quarter 2024 earnings revealed a mix of robust financial performance, operational challenges, and strategic positioning in the market.The company generated $948 million in contract drilling revenues with an adjusted EBITDA of $342 million and an EBITDA margin approximately 36%, indicating strong profitability in its operations.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.

Seadrill Ltd - Transocean Ltd.: An Insight Into The Global Upstream Investment Trends

<ul><li>In a potentially transformative move for the offshore drilling industry, Transocean Ltd. is in discussions to merge with its competitor, Seadrill Ltd., a combination that could reshape the landscape of offshore drilling as the sector experiences renewed vitality.</li><li>With steady oil prices and dwindling production growth from US shale, the offshore drilling space, especially in deep waters, is surging back to prominence, bringing Seadrill’s assets into a favorable light as an acquisition target.</li><li>Seadrill, a Hamilton, Bermuda-based company, has been actively restructuring its operations and focusing on key geographies to optimize its rig fleet, boasting impressive uptime metrics.</li></ul>

In a potentially transformative move for the offshore drilling industry, Transocean Ltd. is in discussions to merge with its competitor, Seadrill Ltd., a combination that could reshape the landscape of offshore drilling as the sector experiences renewed vitality.With steady oil prices and dwindling production growth from US shale, the offshore drilling space, especially in deep waters, is surging back to prominence, bringing Seadrill’s assets into a favorable light as an acquisition target.Seadrill, a Hamilton, Bermuda-based company, has been actively restructuring its operations and focusing on key geographies to optimize its rig fleet, boasting impressive uptime metrics.

Transocean Eyes Seadrill for a Strategic Merger – Here’s Why It Could Be a Game Changer!

United States

Seadrill Limited operates as an oil and gas field service company. The Company offers drilling contracting services to unlock oil and gas resources for clients across harsh and benign locations. Seadrill serves customers worldwide.

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

Seadrill (SDRL US)

Transocean Ltd.: Will Its Rebound in Offshore Drilling Activity Bring A Shift In The Competitive Dynamics?

Transocean's first quarter results for 2025 present a mixed picture of financial performance and strategic positioning. The company reported...

Baptista Research

Seadrill Ltd - Transocean Ltd.: Market Dynamics & Strategic Positioning Fueling Our Positivity!

Transocean's latest financial results showcase a complex landscape with mixed implications that investors should consider carefully. For the...

Baptista Research

SDRL: The Fleet and Free Cash Flow

SDRL plans to have two rigs in operation in Brazil by December, which puts 2025 fleet utilization at 70%. While contract activity has slowed, we...

BWS Financial Inc

Seadrill Ltd - Transocean Ltd.: An Insight Into The Global Upstream Investment Trends

Transocean's Third Quarter 2024 earnings revealed a mix of robust financial performance, operational challenges, and strategic positioning in the...

Baptista Research

Transocean Eyes Seadrill for a Strategic Merger – Here’s Why It Could Be a Game Changer!

In a potentially transformative move for the offshore drilling industry, Transocean Ltd. is in discussions to merge with its competitor, Seadrill...

Baptista Research

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)