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>Skechers U.S.A., Inc. (Skechers) has posted robust financial performance for the fourth quarter and full year 2024, marking significant milestones in its business development.</li><li>Skechers' sales on a constant currency basis totaled over $9 billion, illustrating a 13% increase.</li><li>The company's net earnings increased by 26%, with a notable gross margin of 53.2% and a double-digit operating margin of 10.1%.</li></ul>

Skechers U.S.A., Inc. (Skechers) has posted robust financial performance for the fourth quarter and full year 2024, marking significant milestones in its business development.Skechers' sales on a constant currency basis totaled over $9 billion, illustrating a 13% increase.The company's net earnings increased by 26%, with a notable gross margin of 53.2% and a double-digit operating margin of 10.1%.

Skechers U.S.A.: Here’s Why Its D2C & E-Commerce Expansion Has Made Us Bullish!

Consumer Analyst / Channel Surveillance Specialist, Trudence Capital Advisors

Pranav Bhavsar

Consumer Analyst / Channel Surveillance Specialist

Trudence Capital Advisors

Trudence Capital Advisors Private Limited is a SEBI-registered Research Analyst, holding SEBI registration number INH000015747. Our firm is dedicated to providing independent and unbiased research on Indian mid to large-cap companies. Trudence Capital is known for its counter-consensus views, with a focus on forensic research and on-ground primary investigations. Our research approach is thorough, involving detailed analysis of accounting practices and governance, alongside extensive channel checks.

Independent & Unbiased Research

Aditya Birla Lifestyle Brands / Equity Bottom-Up

<ul>
<li>The ABLBL demerger creates a focused entity with market-leading premium brands, providing a stable foundation by separating the high-margin apparel business from ABFRL’s weaker assets.</li>
<li>ABLBL core lifestyle portfolio, including Louis Philippe and Peter England, boasts dominant market share in key segments and enjoys exceptionally strong brand recall among consumers.</li>
<li>Future growth hinges on wildcards American Eagle and Reebok. The Reebok turnaround offers significant upside by tapping into the high-growth, lucrative Indian sportswear and athleisure market.</li>
</ul>


The ABLBL demerger creates a focused entity with market-leading premium brands, providing a stable foundation by separating the high-margin apparel business from ABFRL’s weaker assets.
ABLBL core lifestyle portfolio, including Louis Philippe and Peter England, boasts dominant market share in key segments and enjoys exceptionally strong brand recall among consumers.
Future growth hinges on wildcards American Eagle and Reebok. The Reebok turnaround offers significant upside by tapping into the high-growth, lucrative Indian sportswear and athleisure market.


Aditya Birla Lifestyle Brands (ABLBL IN) | A Sportswear Wildcard

<ul><li>Skechers USA, Inc.'s third quarter earnings of 2024 showcased a robust period marked by impressive sales growth and a notable increase in earnings per share (EPS).</li><li>The footwear company reported a quarterly revenue of $2.35 billion, a 16% increase from the previous year, and an EPS of $1.26, showing a 35% rise.</li><li>This performance underscores Skechers' success across its wholesale and direct-to-consumer segments, as well as its sustained demand in international markets.</li></ul>

Skechers USA, Inc.'s third quarter earnings of 2024 showcased a robust period marked by impressive sales growth and a notable increase in earnings per share (EPS).The footwear company reported a quarterly revenue of $2.35 billion, a 16% increase from the previous year, and an EPS of $1.26, showing a 35% rise.This performance underscores Skechers' success across its wholesale and direct-to-consumer segments, as well as its sustained demand in international markets.

Skechers U.S.A. Inc.: An Analysis Of Its Innovation in Comfort Technology & Other Major Drivers

<ul><li>Skechers reported a record second quarter in 2024, with sales reaching $2.16 billion, reflecting a 7.2% increase compared with the previous year.</li><li>The growth was supported by strong global demand for their comfort-oriented product lines.</li><li>This growth materialized despite notable challenges, including supply chain disruptions in Europe and economic downturns affecting consumer spending in China around the 618 shopping event.</li></ul>

Skechers reported a record second quarter in 2024, with sales reaching $2.16 billion, reflecting a 7.2% increase compared with the previous year.The growth was supported by strong global demand for their comfort-oriented product lines.This growth materialized despite notable challenges, including supply chain disruptions in Europe and economic downturns affecting consumer spending in China around the 618 shopping event.

Skechers U.S.A. Inc.: What Is Their International Growth Strategy & Why Are We Optimistic? - Major Drivers

<ul><li>In Q1 2024, Skechers hit a new quarterly sales record of $2.25 billion, a gain of 12.5% or $250 million, compared to the previous year.</li><li>Also, diluted earnings per share registered a record of $1.33.</li><li>These results were fuelled by growth in both direct-to-consumer and wholesale sectors on a global scale.</li></ul>

In Q1 2024, Skechers hit a new quarterly sales record of $2.25 billion, a gain of 12.5% or $250 million, compared to the previous year.Also, diluted earnings per share registered a record of $1.33.These results were fuelled by growth in both direct-to-consumer and wholesale sectors on a global scale.

Skechers U.S.A.: Increased Innovation and Messaging around Comfort Technologies & Other Major Drivers

United States

Skechers U.S.A., Inc. designs and markets branded contemporary casual, active, rugged, and lifestyle footwear for men, women, and children.  The Company sells its products to department stores and specialty retailers.  Skechers also sells its products internationally through distributors and directly to consumers through its own retail stores.

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Skechers Usa Inc Cl A (SKX US)

Skechers U.S.A.: Here’s Why Its D2C & E-Commerce Expansion Has Made Us Bullish!

Skechers U.S.A., Inc. (Skechers) has posted robust financial performance for the fourth quarter and full year 2024, marking significant milestones...

Baptista Research

Aditya Birla Lifestyle Brands (ABLBL IN) | A Sportswear Wildcard

The ABLBL demerger creates a focused entity with market-leading premium brands. Future growth potential lies in American Eagle and Reebok's...

Pranav Bhavsar

Skechers U.S.A. Inc.: An Analysis Of Its Innovation in Comfort Technology & Other Major Drivers

Skechers USA, Inc.'s third quarter earnings of 2024 showcased a robust period marked by impressive sales growth and a notable increase in earnings...

Baptista Research

Skechers U.S.A. Inc.: What Is Their International Growth Strategy & Why Are We Optimistic? - Major Drivers

Skechers reported a record second quarter in 2024, with sales reaching $2.16 billion, reflecting a 7.2% increase compared with the previous...

Baptista Research

Skechers U.S.A.: Increased Innovation and Messaging around Comfort Technologies & Other Major Drivers

In Q1 2024, Skechers hit a new quarterly sales record of $2.25 billion, a gain of 12.5% or $250 million, compared to the previous year. Also,...

Baptista Research

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Skechers U.S.A.: Here’s Why Its D2C & E-Commerce Expansion Has Made Us Bullish!

Skechers U.S.A., Inc. (Skechers) has posted robust financial performance for the fourth quarter and full year 2024, marking significant milestones...

Baptista Research

Aditya Birla Lifestyle Brands (ABLBL IN) | A Sportswear Wildcard

​The ABLBL demerger creates a focused entity with market-leading premium brands. Future growth potential lies in American Eagle and Reebok's...

Pranav Bhavsar

Skechers U.S.A. Inc.: An Analysis Of Its Innovation in Comfort Technology & Other Major Drivers

Skechers USA, Inc.'s third quarter earnings of 2024 showcased a robust period marked by impressive sales growth and a notable increase in earnings...

Baptista Research

Skechers U.S.A. Inc.: What Is Their International Growth Strategy & Why Are We Optimistic? - Major Drivers

Skechers reported a record second quarter in 2024, with sales reaching $2.16 billion, reflecting a 7.2% increase compared with the previous...

Baptista Research

Skechers U.S.A.: Increased Innovation and Messaging around Comfort Technologies & Other Major Drivers

In Q1 2024, Skechers hit a new quarterly sales record of $2.25 billion, a gain of 12.5% or $250 million, compared to the previous year. Also,...

Baptista Research

The ABLBL demerger creates a focused entity with market-leading premium brands. Future growth potential lies in American Eagle and Reebok's...