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>Shift4 Payments, Inc. reported its second quarter of 2026 results with several notable strengths alongside some headwinds.</li><li>The company demonstrated robust financial performance, exceeding its guidance across key metrics despite ongoing macroeconomic challenges and geopolitical disruptions, particularly those impacting international travel.</li><li>In Q2 2026, Shift4 delivered a 34% year-over-year increase in gross revenue to $1.29 billion and a 51% increase in gross revenue less network fees (GRLNF) to $624 million, with 11% organic growth excluding acquisition contributions.</li></ul>

Shift4 Payments, Inc. reported its second quarter of 2026 results with several notable strengths alongside some headwinds.The company demonstrated robust financial performance, exceeding its guidance across key metrics despite ongoing macroeconomic challenges and geopolitical disruptions, particularly those impacting international travel.In Q2 2026, Shift4 delivered a 34% year-over-year increase in gross revenue to $1.29 billion and a 51% increase in gross revenue less network fees (GRLNF) to $624 million, with 11% organic growth excluding acquisition contributions.

Shift4 Payments’ $624 Million Growth Engine — GRLNF Jumps 51%!

Pan-Asia Catalysts/Events, Quiddity Advisors

David Blennerhassett

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

<ul>
<li>In February this year, <a href="https://www.smartkarma.com/entities/ofx-group-ltd" target="_blank" data-smartkarma-citation="entities:8376:1" rel="noopener">OFX (OFX AU)</a> announced a strategic review amid its 3Q26 trading update, to “explore a range of organic and inorganic opportunities” following “an increasing level of inbound interest”.</li>
<li>This morning the  international money transfer play announced it has entered into a transaction process deed with Equals Group, potentially leading to a A$1.00/share offer by way of a Scheme.</li>
<li>Equals Group has been granted four weeks of due diligence. OFX's board is unanimously supportive of terms, if firmed, which represent a 108% premium to undisturbed. </li>
</ul>


In February this year, OFX (OFX AU) announced a strategic review amid its 3Q26 trading update, to “explore a range of organic and inorganic opportunities” following “an increasing level of inbound interest”.
This morning the  international money transfer play announced it has entered into a transaction process deed with Equals Group, potentially leading to a A$1.00/share offer by way of a Scheme.
Equals Group has been granted four weeks of due diligence. OFX's board is unanimously supportive of terms, if firmed, which represent a 108% premium to undisturbed. 


OFX Group (OFX AU) Backs Equals Group's A$1/Share Indicative Offer

<ul><li>Shift4 Payments, Inc. reported first-quarter 2026 results reflecting growth amid global challenges, notably the Middle East conflict's disruption to travel.</li><li>The company’s diversified business model demonstrated resilience, delivering gross revenues of $1.12 billion, growing 32% year-over-year.</li><li>Gross revenue less network fees (GRLNF) increased 49% year-over-year to $549 million, aligning with prior guidance.</li></ul>

Shift4 Payments, Inc. reported first-quarter 2026 results reflecting growth amid global challenges, notably the Middle East conflict's disruption to travel.The company’s diversified business model demonstrated resilience, delivering gross revenues of $1.12 billion, growing 32% year-over-year.Gross revenue less network fees (GRLNF) increased 49% year-over-year to $549 million, aligning with prior guidance.

Shift4 Payments’ Hidden Growth Engine: International Revenue Surges 51%!

<ul><li>Shift4 Payments, Inc.'s latest earnings results indicate a blend of positive growth aspects and some performance dilemmas, amidst a complex macroeconomic environment.</li><li>Throughout 2025, Shift4 Payments achieved significant financial growth alongside strategic expansion, notably through the acquisition of Global Blue, a key player in the luxury retail tax-free shopping sector.</li><li>The company posted a record $4.18 billion in gross revenue, marking a year-over-year growth of 46% when excluding network fees.</li></ul>

Shift4 Payments, Inc.'s latest earnings results indicate a blend of positive growth aspects and some performance dilemmas, amidst a complex macroeconomic environment.Throughout 2025, Shift4 Payments achieved significant financial growth alongside strategic expansion, notably through the acquisition of Global Blue, a key player in the luxury retail tax-free shopping sector.The company posted a record $4.18 billion in gross revenue, marking a year-over-year growth of 46% when excluding network fees.

Shift4 Payments Is Expanding Across 15 Countries—Is Its Global SMB Push The Biggest Growth Catalyst Ahead?

Podcast on In-depth Business Talks, Speedwell Research

The Synopsis

Podcast on In-depth Business Talks

Speedwell Research

Speedwell Research spends hundreds of hours researching public businesses each month and in "The Synopsis" they share their key learnings. Most business podcasts are superficial and assume their listeners are unsophisticated. In contrast, The Synopsis trusts listeners are interested in learning about complex, industry-specific issues, so long as they are explained clearly. We cover businesses from inception to current day, coupling business analysis and an investors lens. Start listening today to become a better analyst and investor.

<ul><li>Shift4 has a $5.5 billion market cap and is founder-led</li><li>Company has a history of acquisitions and business transformations</li><li>Valuation is not demanding, trading at 17.5 times free cash flow</li></ul>This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.

Shift4 has a $5.5 billion market cap and is founder-ledCompany has a history of acquisitions and business transformationsValuation is not demanding, trading at 17.5 times free cash flowThis content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.

Company. How Shift4 Built and Bought an Integrated Payments Powerhouse

United States

Shift4 Payments, Inc. provides payment processing solutions. The Company offers software for transaction and money transfer activities. Shift4 Payments serves customers in the United States.

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Shift4 Payments (FOUR US)

Shift4 Payments’ $624 Million Growth Engine — GRLNF Jumps 51%!

Shift4 Payments, Inc. reported its second quarter of 2026 results with several notable strengths alongside some headwinds. The company...

Baptista Research

Shift4 Payments’ Hidden Growth Engine: International Revenue Surges 51%!

Shift4 Payments, Inc. reported first-quarter 2026 results reflecting growth amid global challenges, notably the Middle East conflict's disruption...

Baptista Research

Shift4 Payments Is Expanding Across 15 Countries—Is Its Global SMB Push The Biggest Growth Catalyst Ahead?

Shift4 Payments, Inc.'s latest earnings results indicate a blend of positive growth aspects and some performance dilemmas, amidst a complex...

Baptista Research

Company. How Shift4 Built and Bought an Integrated Payments Powerhouse

Shift4's new episode format includes interviews with the CEO and CFO, highlighting the company's $5.5 billion market cap, history of acquisitions,...

The Synopsis

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Shift4 Payments’ $624 Million Growth Engine — GRLNF Jumps 51%!

Shift4 Payments, Inc. reported its second quarter of 2026 results with several notable strengths alongside some headwinds. The company...

Baptista Research

OFX Group (OFX AU) Backs Equals Group's A$1/Share Indicative Offer

Terms areindicative; although wording in the announcement is upbeat. Chunky downside. Trading at a 20%/53% gross/annual spread, if late Dec...

David Blennerhassett

Shift4 Payments’ Hidden Growth Engine: International Revenue Surges 51%!

Shift4 Payments, Inc. reported first-quarter 2026 results reflecting growth amid global challenges, notably the Middle East conflict's disruption...

Baptista Research

Shift4 Payments Is Expanding Across 15 Countries—Is Its Global SMB Push The Biggest Growth Catalyst Ahead?

Shift4 Payments, Inc.'s latest earnings results indicate a blend of positive growth aspects and some performance dilemmas, amidst a complex...

Baptista Research

Company. How Shift4 Built and Bought an Integrated Payments Powerhouse

Shift4's new episode format includes interviews with the CEO and CFO, highlighting the company's $5.5 billion market cap, history of acquisitions,...

The Synopsis