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

Shake Shack Inc Class A / Equity Bottom-Up

<ul><li>Shake Shack Inc. reported its fourth-quarter 2024 earnings, showcasing a robust financial performance with a revenue increase of 14.8%, driven by a 4.3% increase in same-shack sales.</li><li>The company achieved notable expansion in its restaurant-level margins, gaining nearly 300 basis points to 22.7%, and observed an almost 50% growth in adjusted EBITDA.</li><li>Despite these positive financial metrics, Shake Shack faces a challenging macroeconomic landscape, including unpredictable weather impacts and the aftermath of the tragic Los Angeles wildfires.</li></ul>

Shake Shack Inc. reported its fourth-quarter 2024 earnings, showcasing a robust financial performance with a revenue increase of 14.8%, driven by a 4.3% increase in same-shack sales.The company achieved notable expansion in its restaurant-level margins, gaining nearly 300 basis points to 22.7%, and observed an almost 50% growth in adjusted EBITDA.Despite these positive financial metrics, Shake Shack faces a challenging macroeconomic landscape, including unpredictable weather impacts and the aftermath of the tragic Los Angeles wildfires.

Shake Shack: An Analysis Of Its Recent Menu Innovation, Culinary Strategy & Critical Growth Levers!

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.

Event-Driven

<ul>
<li>
<a href="https://www.smartkarma.com/entities/guzman-y-gomez-limited" target="_blank" data-smartkarma-citation="entities:43656:1" rel="noopener">Guzman Y Gomez (GYG AU)</a> raised around US$221m in its Australian IPO. Its IPO linked partial lockup expiry is due soon.</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 will talk about the lockup dynamics and possible placement.</li>
</ul>



Guzman Y Gomez (GYG AU) raised around US$221m in its Australian IPO. Its IPO linked partial lockup expiry is due soon.
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 will talk about the lockup dynamics and possible placement.


Guzman IPO Lockup - Pop Done, Correction Ongoing, Now Time for the Lockup

<ul><li>Shake Shack delivered a strong financial performance in the third quarter of 2024, showcasing positive trends and potential areas for caution.</li><li>The company achieved its 15th consecutive quarter of positive same-Shack sales growth, with a 4.4% rise and a significant expansion in restaurant-level margins for the ninth consecutive quarter.</li><li>This resulted in a 28% increase in adjusted EBITDA to $45.8 million.</li></ul>

Shake Shack delivered a strong financial performance in the third quarter of 2024, showcasing positive trends and potential areas for caution.The company achieved its 15th consecutive quarter of positive same-Shack sales growth, with a 4.4% rise and a significant expansion in restaurant-level margins for the ninth consecutive quarter.This resulted in a 28% increase in adjusted EBITDA to $45.8 million.

Shake Shack Inc.: Can Its Expansion of Drive-Thru & Operational Efficiency Up Their Game? - Major Drivers

External reports (aggregated public sources), Value Investors Club

Value Investors Club (VIC)

External reports (aggregated public sources)

Value Investors Club

<ul><li>Investment thesis recommends shorting Shake Shack due to declining traffic, comp growth, and new unit productivity</li><li>Stock price has surged despite challenges, trading at over 100x earnings</li><li>Uncertain outlook with activist investor no longer involved and unique smashburger being commoditized, raising doubts about sustainability of growth.</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. This article was originally published 3 months ago on Value Investors Club.</em></p>

Investment thesis recommends shorting Shake Shack due to declining traffic, comp growth, and new unit productivityStock price has surged despite challenges, trading at over 100x earningsUncertain outlook with activist investor no longer involved and unique smashburger being commoditized, raising doubts about sustainability of growth.This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only. This article was originally published 3 months ago on Value Investors Club.

Shake Shack Inc (SHAK) - Friday, Aug 30, 2024

<ul><li>Shake Shack Inc. exhibited robust performance in its second quarter of 2024, a testament to strong operational advancements and strategic initiatives.</li><li>Under the new leadership of CEO Rob Lynch, the company reported a growth in Same-Shack sales by 4%, demonstrating a sustained appeal despite a complex macroeconomic climate.</li><li>This positive trend in sales underscores the company's effective market positioning and adeptness at navigating through competitive pressures—especially noteworthy given the company's premium pricing strategy in a value-driven market.</li></ul>

Shake Shack Inc. exhibited robust performance in its second quarter of 2024, a testament to strong operational advancements and strategic initiatives.Under the new leadership of CEO Rob Lynch, the company reported a growth in Same-Shack sales by 4%, demonstrating a sustained appeal despite a complex macroeconomic climate.This positive trend in sales underscores the company's effective market positioning and adeptness at navigating through competitive pressures—especially noteworthy given the company's premium pricing strategy in a value-driven market.

Shake Shack Inc.: Global Licensing and Franchise Development To Drive Growth! - Major Drivers

United States

Shake Shack Inc is a modern day "roadside" burger stand known for its all-natural burgers. Shake Shack is part of Danny Meyer's Union Square Hospitality Group (USHG).

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Shake Shack Inc Class A (SHAK US)

Shake Shack: An Analysis Of Its Recent Menu Innovation, Culinary Strategy & Critical Growth Levers!

Shake Shack Inc. reported its fourth-quarter 2024 earnings, showcasing a robust financial performance with a revenue increase of 14.8%, driven by...

Baptista Research

Guzman IPO Lockup - Pop Done, Correction Ongoing, Now Time for the Lockup

Guzman Y Gomez (GYG AU) raised around US$221m in its Australian IPO. Its IPO linked partial lockup expiry is due soon, if they stock manages to...

Sumeet Singh

Shake Shack Inc.: Can Its Expansion of Drive-Thru & Operational Efficiency Up Their Game? - Major Drivers

Shake Shack delivered a strong financial performance in the third quarter of 2024, showcasing positive trends and potential areas for caution. The...

Baptista Research

Shake Shack Inc (SHAK) - Friday, Aug 30, 2024

nvestment thesis recommends shorting Shake Shack due to declining traffic, comp growth, and new unit productivity. Stock price has surged despite...

Value Investors Club (VIC)

Shake Shack Inc.: Global Licensing and Franchise Development To Drive Growth! - Major Drivers

Shake Shack Inc. exhibited robust performance in its second quarter of 2024, a testament to strong operational advancements and strategic...

Baptista Research

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