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>The Sherwin-Williams Company's third-quarter 2025 results reflect both strengths and challenges in a turbulent demand environment.</li><li>Consolidated sales surpassed expectations with high single-digit growth, driven mainly by the strong performance of the Paint Stores and Consumer Brands groups.</li><li>However, the Performance Coatings Group faced difficulties, aligning with forecasts but not exceeding them.</li></ul>

The Sherwin-Williams Company's third-quarter 2025 results reflect both strengths and challenges in a turbulent demand environment.Consolidated sales surpassed expectations with high single-digit growth, driven mainly by the strong performance of the Paint Stores and Consumer Brands groups.However, the Performance Coatings Group faced difficulties, aligning with forecasts but not exceeding them.

<ul><li>Sherwin-Williams Company's second-quarter 2025 earnings report reflects a mixed financial performance amidst a challenging economic environment.</li><li>Despite ongoing market turbulence, the company continues to pursue its long-term strategic goals with some degree of success, but also faces significant near-term challenges.</li><li>On the positive side, Sherwin-Williams reported consolidated sales within its guided range, buoyed by growth in its Paint Stores Group, although this was partially offset by declines in its other segments.</li></ul>

Sherwin-Williams Company's second-quarter 2025 earnings report reflects a mixed financial performance amidst a challenging economic environment.Despite ongoing market turbulence, the company continues to pursue its long-term strategic goals with some degree of success, but also faces significant near-term challenges.On the positive side, Sherwin-Williams reported consolidated sales within its guided range, buoyed by growth in its Paint Stores Group, although this was partially offset by declines in its other segments.

Sherwin-Williams Is Slashing Capex—Is a Massive Growth Rebound on the Horizon?

<ul><li>Sherwin-Williams has emerged as one of the more resilient players in a housing market mired by high mortgage rates, weak affordability, and sluggish turnover.</li><li>Despite the macroeconomic headwinds, the company’s stock has surged nearly 23% over the past 12 months and is outperforming the S&P 500 in 2025.</li><li>This performance is backed not by housing strength, but by Sherwin-Williams’ ability to execute on pricing, grow market share, and deliver operational efficiencies amidst volatility.</li></ul>

Sherwin-Williams has emerged as one of the more resilient players in a housing market mired by high mortgage rates, weak affordability, and sluggish turnover.Despite the macroeconomic headwinds, the company’s stock has surged nearly 23% over the past 12 months and is outperforming the S&P 500 in 2025.This performance is backed not by housing strength, but by Sherwin-Williams’ ability to execute on pricing, grow market share, and deliver operational efficiencies amidst volatility.

Sherwin-Williams Is Painting Over Housing Market Woes With Strategy & Scale; Will It Work?

Pan-Asia Catalysts/Events, Quiddity Advisors

Travis Lundy

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

<ul>
<li>Late Friday, S&amp;PDJI announced <a href="https://www.smartkarma.com/entities/nvidia-corp" target="_blank" data-smartkarma-citation="entities:5891:1" rel="noopener">NVIDIA Corp (NVDA US)</a> and <a href="https://www.smartkarma.com/entities/sherwin-williams-co-the" target="_blank" data-smartkarma-citation="entities:15539:1" rel="noopener">Sherwin Williams Co (SHW US)</a> would replace <a href="https://www.smartkarma.com/entities/intel-corp" target="_blank" data-smartkarma-citation="entities:16764:1" rel="noopener">Intel Corp (INTC US)</a> and <a href="https://www.smartkarma.com/entities/dow-inc" target="_blank" data-smartkarma-citation="entities:19107:1" rel="noopener">Dow (DOW US)</a> in the Dow Jones Industrial Avg.</li>
<li>This was done to "ensure a more representative exposure to the semiconductors industry and materials sector, respectively." This will be effective of 7 November close; only four days to trade. </li>
<li>The details merit a closer look. Calculating how much tracks the DJIA should be "easy" but I have questions. That said, <a href="https://www.smartkarma.com/entities/sherwin-williams-co-the" target="_blank" data-smartkarma-citation="entities:15539:1" rel="noopener">Sherwin Williams Co (SHW US)</a> could get exciting.</li>
</ul>


Late Friday, S&amp;PDJI announced NVIDIA Corp (NVDA US) and Sherwin Williams Co (SHW US) would replace Intel Corp (INTC US) and Dow (DOW US) in the Dow Jones Industrial Avg.
This was done to "ensure a more representative exposure to the semiconductors industry and materials sector, respectively." This will be effective of 7 November close; only four days to trade. 
The details merit a closer look. Calculating how much tracks the DJIA should be "easy" but I have questions. That said, Sherwin Williams Co (SHW US) could get exciting.


Dow Jones Industrial Avg Nov24 Rebalance - Sherwin Williams (SHW) Could Get Jiggy

<ul><li>The Sherwin-Williams Company's first-quarter 2025 results reflect a complex balance of challenges and progress within a turbulent demand environment.</li><li>The company reported that consolidated sales were within their guided range despite volatile market conditions.</li><li>Notably, the Paint Stores Group saw modest growth, driven by pricing improvements and a favorable product mix, though volume did decrease slightly.</li></ul>

The Sherwin-Williams Company's first-quarter 2025 results reflect a complex balance of challenges and progress within a turbulent demand environment.The company reported that consolidated sales were within their guided range despite volatile market conditions.Notably, the Paint Stores Group saw modest growth, driven by pricing improvements and a favorable product mix, though volume did decrease slightly.

The Sherwin-Williams Company: Expansion in Emerging Markets to Contribute To A More Balanced Portfolio Globally!

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.

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Sherwin Williams Co (SHW US)

Sherwin-Williams’ Synergy Superpower

The Sherwin-Williams Company's third-quarter 2025 results reflect both strengths and challenges in a turbulent demand environment. Consolidated...

Baptista Research

Sherwin-Williams Is Slashing Capex—Is a Massive Growth Rebound on the Horizon?

Sherwin-Williams Company's second-quarter 2025 earnings report reflects a mixed financial performance amidst a challenging economic...

Baptista Research

Sherwin-Williams Is Painting Over Housing Market Woes With Strategy & Scale; Will It Work?

Sherwin-Williams has emerged as one of the more resilient players in a housing market mired by high mortgage rates, weak affordability, and...

Baptista Research

Dow Jones Industrial Avg Nov24 Rebalance - Sherwin Williams (SHW) Could Get Jiggy

The DJIA (Dow30) is an odd anachronism. Price-weighted. Rebalances when it wants. No ranking system. Just a committee and some vague inputs. This...

Travis Lundy

The Sherwin-Williams Company: Expansion in Emerging Markets to Contribute To A More Balanced Portfolio Globally!

The Sherwin-Williams Company's first-quarter 2025 results reflect a complex balance of challenges and progress within a turbulent demand...

Baptista Research

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