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>Sirius XM, a leading audio entertainment company, reported its third quarter 2025 financial results, showcasing a mix of stable revenue figures, strategic expansions, and some challenges in subscriber trends.</li><li>Amid a backdrop of evolving industry dynamics, Sirius XM's performance and strategic movements highlight the company's ongoing efforts to maintain and grow its market position.</li><li>For the quarter, Sirius XM reported total revenue of $2.16 billion, essentially flat compared to the previous year.</li></ul>

Sirius XM, a leading audio entertainment company, reported its third quarter 2025 financial results, showcasing a mix of stable revenue figures, strategic expansions, and some challenges in subscriber trends.Amid a backdrop of evolving industry dynamics, Sirius XM's performance and strategic movements highlight the company's ongoing efforts to maintain and grow its market position.For the quarter, Sirius XM reported total revenue of $2.16 billion, essentially flat compared to the previous year.

Sirius XM Holdings Unlocks Podcasting Momentum—Can 50% Ad Growth Offset Streaming Slowdowns?

<ul><li>SiriusXM released its Q1 2025 financial results, indicative of the company's navigation through a challenging economic environment with a focus on its core in-car audience and new strategic direction.</li><li>The company’s revenue for the quarter was $2.07 billion, marking a 4% decrease compared to the prior year, reflecting both subscriber base contractions and softer advertising trends.</li><li>Net income amounted to $204 million, and adjusted EBITDA was reported at $629 million, both showing slight declines from the previous year.</li></ul>

SiriusXM released its Q1 2025 financial results, indicative of the company's navigation through a challenging economic environment with a focus on its core in-car audience and new strategic direction.The company’s revenue for the quarter was $2.07 billion, marking a 4% decrease compared to the prior year, reflecting both subscriber base contractions and softer advertising trends.Net income amounted to $204 million, and adjusted EBITDA was reported at $629 million, both showing slight declines from the previous year.

SiriusXM: Launch of New Ad-Supported Tiers to Diversify Revenue Streams; What’s The Long-Term Impact?

<ul><li>SiriusXM recently concluded its fourth-quarter and full-year 2024 earnings call, providing insights into the company's performance and strategic direction.</li><li>The results highlight a mix of achievements and challenges that shape the company's position moving into 2025.</li><li>Firstly, SiriusXM reported a total revenue of $8.7 billion for 2024, with adjusted EBITDA at $2.73 billion and free cash flow exceeding $1 billion.</li></ul>

SiriusXM recently concluded its fourth-quarter and full-year 2024 earnings call, providing insights into the company's performance and strategic direction.The results highlight a mix of achievements and challenges that shape the company's position moving into 2025.Firstly, SiriusXM reported a total revenue of $8.7 billion for 2024, with adjusted EBITDA at $2.73 billion and free cash flow exceeding $1 billion.

Sirius XM Holdings: Advertising & Podcast Growth Fueling Our Optimism!

IPOs and Catalysts/Events, Global Equity Research Ltd

Arun George

IPOs and Catalysts/Events

Uncompromised, Independent, Conflict-Free Research

Global Equity Research Ltd

Global Equity Research was started in 2017 by a group of experienced research professionals. It was founded on a passionate belief in the importance and the need for uncompromised, independent, conflict-free research. We aim to provide differentiated and actionable primary and bottom up fundamental research.

Event-Driven

<ul>
<li>
<a href="https://www.smartkarma.com/entities/seven-west-media-ltd" target="_blank" data-smartkarma-citation="entities:804:1" rel="noopener">Seven West Media (SWM AU)</a> will merge with <a href="https://www.smartkarma.com/entities/southern-cross-media-group-ltd" target="_blank" data-smartkarma-citation="entities:10374:1" rel="noopener">Southern Cross Media (SXL AU)</a> at a ratio of 0.1552 SXL shares per SWM share. </li>
<li>The merger is strategically sensible and is expected to deliver annualised cost synergies of A$25 to A$35 million. The merger requires approval from both the ACMA and the ACCC.</li>
<li>While the offer is light compared to historical exchange ratios and peer multiples, large SWM shareholders are supportive. The scheme vote risk is low. </li>
</ul>



Seven West Media (SWM AU) will merge with Southern Cross Media (SXL AU) at a ratio of 0.1552 SXL shares per SWM share. 
The merger is strategically sensible and is expected to deliver annualised cost synergies of A$25 to A$35 million. The merger requires approval from both the ACMA and the ACCC.
While the offer is light compared to historical exchange ratios and peer multiples, large SWM shareholders are supportive. The scheme vote risk is low. 


Seven West Media (SWM AU): Merger with Southern Cross Media (SXL AU)

<ul><li>SiriusXM recently reported its third quarter financial results for the year 2024, showcasing a period of transition and strategic redirection.</li><li>As the company reemerges as a fully independent entity following its separation from Liberty Media, its executives have outlined a vision targeting substantial growth in subscribers and operational efficiencies.</li><li>The mixed financial results and the strategic initiatives in response reflect both the challenges and opportunities that the company faces in the competitive digital audio space.</li></ul>

SiriusXM recently reported its third quarter financial results for the year 2024, showcasing a period of transition and strategic redirection.As the company reemerges as a fully independent entity following its separation from Liberty Media, its executives have outlined a vision targeting substantial growth in subscribers and operational efficiencies.The mixed financial results and the strategic initiatives in response reflect both the challenges and opportunities that the company faces in the competitive digital audio space.

Sirius XM Holdings: Enhanced In-Car and Streaming Integration As A Crucial Growth Lever! - Major Drivers

United States

Sirius XM Holdings Inc. broadcasts various channels of audio from its satellites. The Company provides its services throughout the continental United States for a monthly subscription fee. Sirius delivers various streams of commercial-free music in every genre, as well as streams of  news, sports, weather, talk, comedy, and public radio.

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Sirius Xm Holdings (SIRI US)

Sirius XM Holdings Unlocks Podcasting Momentum—Can 50% Ad Growth Offset Streaming Slowdowns?

Sirius XM, a leading audio entertainment company, reported its third quarter 2025 financial results, showcasing a mix of stable revenue figures,...

Baptista Research

SiriusXM: Launch of New Ad-Supported Tiers to Diversify Revenue Streams; What’s The Long-Term Impact?

SiriusXM released its Q1 2025 financial results, indicative of the company's navigation through a challenging economic environment with a focus on...

Baptista Research

Sirius XM Holdings: Advertising & Podcast Growth Fueling Our Optimism!

SiriusXM recently concluded its fourth-quarter and full-year 2024 earnings call, providing insights into the company's performance and strategic...

Baptista Research

Seven West Media (SWM AU): Merger with Southern Cross Media (SXL AU)

While the offer is light compared to historical exchange ratios and peer multiples, large SWM shareholders are supportive. The scheme vote risk is...

Arun George

Sirius XM Holdings: Enhanced In-Car and Streaming Integration As A Crucial Growth Lever! - Major Drivers

SiriusXM recently reported its third quarter financial results for the year 2024, showcasing a period of transition and strategic redirection. As...

Baptista Research

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