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>Sherwin-Williams Company has reported robust results for the second quarter of 2024, showcasing growth in sales and margins across its segments.</li><li>The company emphasized strong execution amid a complex macroeconomic climate, reflecting a persistent trend throughout their financial performance.</li><li>Notably, Sherwin Williams has proactively managed the ongoing shifts in market demands while strategically positioning itself to capitalize on future growth opportunities.</li></ul>

Sherwin-Williams Company has reported robust results for the second quarter of 2024, showcasing growth in sales and margins across its segments.The company emphasized strong execution amid a complex macroeconomic climate, reflecting a persistent trend throughout their financial performance.Notably, Sherwin Williams has proactively managed the ongoing shifts in market demands while strategically positioning itself to capitalize on future growth opportunities.

The Sherwin-Williams Company: Is It Capitalizing Well On The Residential Repaint Market Share Opportunities? - Major Drivers

<ul><li>The Sherwin-Williams Company recently reported its consolidated sales within the guided range, gross margin expansion, and growth in diluted earnings per share (EPS) and Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA).</li><li>However, the results were at the lower end of expected sales.</li><li>Despite the modest first quarter, the company remains confident in its full-year outlook and is optimistic about the upcoming painting season.</li></ul>

The Sherwin-Williams Company recently reported its consolidated sales within the guided range, gross margin expansion, and growth in diluted earnings per share (EPS) and Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA).However, the results were at the lower end of expected sales.Despite the modest first quarter, the company remains confident in its full-year outlook and is optimistic about the upcoming painting season.

The Sherwin-Williams Company: What Is Their Market Share Strategy in Emerging Opportunities? - Major Drivers

Analyst

Steve

<ul>
<li>According to public news, China is considering asking local governments to purchase significant amount of unsold homes in the country. </li>
<li>
<a href="https://www.smartkarma.com/entities/nippon-paint-holdings-co-ltd" target="_blank" data-smartkarma-citation="entities:7387:1" rel="noopener">Nippon Paint Holdings (4612 JP)</a> is a good proxy for exposure to China property with downside protection.</li>
<li>China made up 40% of Nippon Paint's operating profit (1Q24 numbers).  Nippon Paint is the absolute leader in decorative paint in China, with 25% market share in 2023 (TUC).</li>
</ul>


According to public news, China is considering asking local governments to purchase significant amount of unsold homes in the country. 

Nippon Paint Holdings (4612 JP) is a good proxy for exposure to China property with downside protection.
China made up 40% of Nippon Paint's operating profit (1Q24 numbers).  Nippon Paint is the absolute leader in decorative paint in China, with 25% market share in 2023 (TUC).


Nippon Paint (4612 JP):  Strong 1Q24; Overlooked Proxy For China Property

<ul><li>Sherwin-Williams Company, a global leader in the paint and coatings industry, reported a promising review of their fourth quarter 2023 results and outlook for the first quarter and full year of 2024.</li><li>The company has experienced positive growth, with sales growing 4.1% to $23.1 billion and adjusted earnings per share growing 18.6% to $10.35 a share.</li><li>Sherwin-Williams demonstrated robust financial performance during the fourth quarter that has resulted in a record year for the company.</li></ul>

Sherwin-Williams Company, a global leader in the paint and coatings industry, reported a promising review of their fourth quarter 2023 results and outlook for the first quarter and full year of 2024.The company has experienced positive growth, with sales growing 4.1% to $23.1 billion and adjusted earnings per share growing 18.6% to $10.35 a share.Sherwin-Williams demonstrated robust financial performance during the fourth quarter that has resulted in a record year for the company.

The Sherwin-Williams Company: Can Its Dominant Market Position Last? - Major Drivers

<ul>
<li>
<a href="https://www.smartkarma.com/entities/nippon-paint-holdings-co-ltd" target="_blank" data-smartkarma-citation="entities:7387:1" rel="noopener">Nippon Paint Holdings (4612 JP)</a> announced a better-than-expected 3Q23 results this week, mainly driven by a resilient China decorative paint business. </li>
<li>The company also raised 2023 operating profit guidance, expecting around 6% higher operating profit (Y168bn from Y158bn previously).</li>
<li>At 21x forward PE, the company is attractively valued given the growth profile and strong market share position in most end-markets.  </li>
</ul>



Nippon Paint Holdings (4612 JP) announced a better-than-expected 3Q23 results this week, mainly driven by a resilient China decorative paint business. 
The company also raised 2023 operating profit guidance, expecting around 6% higher operating profit (Y168bn from Y158bn previously).
At 21x forward PE, the company is attractively valued given the growth profile and strong market share position in most end-markets.  


Nippon Paint (4612 JP):  Results Beat On Resilient China 2C Business

United States

The Sherwin-Williams Company manufactures, distributes, and sells paints, coatings, and related products.  The Company's products are sold to professional, industrial, commercial, and retail customers primarily in North and South America. Sherwin Williams also has additional operations in the Caribbean region, Europe and Asia.

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

Sherwin Williams Co (SHW US)

Nippon Paint (4612 JP): Strong 1Q24; Overlooked Proxy For China Property

China made up 40% of Nippon Paint's operating profit (1Q24 numbers). Nippon Paint is the absolute leader in decorative paint in China, with 25%...

Steve

The Sherwin-Williams Company: Can Its Dominant Market Position Last? - Major Drivers

Sherwin-Williams Company, a global leader in the paint and coatings industry, reported a promising review of their fourth quarter 2023 results and...

Baptista Research

Nippon Paint (4612 JP): Results Beat On Resilient China 2C Business

Nippon Paint Holdings reported strong 3Q23 results, mainly driven by its resilient China decorative paint business. The company also raised its...

Steve

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

The Sherwin-Williams Company: Is It Capitalizing Well On The Residential Repaint Market Share Opportunities? - Major Drivers

Sherwin-Williams Company has reported robust results for the second quarter of 2024, showcasing growth in sales and margins across its...

Baptista Research

The Sherwin-Williams Company: What Is Their Market Share Strategy in Emerging Opportunities? - Major Drivers

The Sherwin-Williams Company recently reported its consolidated sales within the guided range, gross margin expansion, and growth in diluted...

Baptista Research

Nippon Paint (4612 JP): Strong 1Q24; Overlooked Proxy For China Property

China made up 40% of Nippon Paint's operating profit (1Q24 numbers). Nippon Paint is the absolute leader in decorative paint in China, with 25%...

Steve

The Sherwin-Williams Company: Can Its Dominant Market Position Last? - Major Drivers

Sherwin-Williams Company, a global leader in the paint and coatings industry, reported a promising review of their fourth quarter 2023 results and...

Baptista Research

Nippon Paint (4612 JP): Results Beat On Resilient China 2C Business

​Nippon Paint Holdings reported strong 3Q23 results, mainly driven by its resilient China decorative paint business. The company also raised its...

Steve

Nippon Paint Holdings reported strong 3Q23 results, mainly driven by its resilient China decorative paint business. The company also raised its...