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

Stanley Black & Decker / Equity Bottom-Up

<ul><li>Stanley Black & Decker reported a mixed set of results for the fourth quarter and full year of 2024.</li><li>The company achieved some notable financial milestones, such as maintaining flat full-year revenues of $15.4 billion organically, despite challenging market conditions.</li><li>There was a positive response from some segments, notably DEWALT, which reported mid-single-digit organic growth, demonstrating resilience against a softer consumer and DIY backdrop.</li></ul>

Stanley Black & Decker reported a mixed set of results for the fourth quarter and full year of 2024.The company achieved some notable financial milestones, such as maintaining flat full-year revenues of $15.4 billion organically, despite challenging market conditions.There was a positive response from some segments, notably DEWALT, which reported mid-single-digit organic growth, demonstrating resilience against a softer consumer and DIY backdrop.

Stanley Black & Decker: How Can It Deal With Supply Chain Overhaul Risks

Pan-Asia Catalysts/Events, Quiddity Advisors

David Blennerhassett

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

<ul>
<li>Jehoshaphat Research (JR) argues the case that <strong><a href="https://www.smartkarma.com/entities/techtronic-industries-co-ltd" target="_blank" data-smartkarma-citation="entities:4561:1" rel="noopener">Techtronic Industries (669 HK)</a></strong> has been engaged in “snowballing” to maintain margin growth.</li>
<li>JR flags TTI is the only public company in the world (with over $1bn in revenues) exhibiting positive sequential gross margin change in every semi-annual period over ten years.</li>
<li>Short interest had been picking up ahead of the short sell report. Shares fell 19% before being suspended in the afternoon session.  </li>
</ul>


Jehoshaphat Research (JR) argues the case that Techtronic Industries (669 HK) has been engaged in “snowballing” to maintain margin growth.
JR flags TTI is the only public company in the world (with over $1bn in revenues) exhibiting positive sequential gross margin change in every semi-annual period over ten years.
Short interest had been picking up ahead of the short sell report. Shares fell 19% before being suspended in the afternoon session.  


Techtronic Industries (669 HK): JR Puts Down That Tool

Asia L/S Equity PM/Macro/Thematic Idea Generation

Rikki Malik

Thematic (Sector/Industry)

<ul>
<li>Reprieve on the tariff front gives investors the opportunity to sell/short.</li>
<li>Despite market action, a global slowdown and a US recession are still on the cards.</li>
<li>We look at some stocks that will not perform well in this environment.</li>
</ul>


Reprieve on the tariff front gives investors the opportunity to sell/short.
Despite market action, a global slowdown and a US recession are still on the cards.
We look at some stocks that will not perform well in this environment.


Time for Some Shorts For the Hong Kong Summer

<ul><li>Stanley Black & Decker, a renowned name in tools and related services, recently presented its third quarter earnings for the fiscal year 2024.</li><li>Overall, the company reported a revenue of $3.8 billion, which represented a decline of 5% compared with the previous year, attributed largely to modest declines in volume and negative currency impacts.</li><li>The adjusted gross margin was noted at 30.5%, showing a significant improvement of 290 basis points from last year, largely due to effective supply chain transformations rather than shifts in market demand or pricing strategies.</li></ul>

Stanley Black & Decker, a renowned name in tools and related services, recently presented its third quarter earnings for the fiscal year 2024.Overall, the company reported a revenue of $3.8 billion, which represented a decline of 5% compared with the previous year, attributed largely to modest declines in volume and negative currency impacts.The adjusted gross margin was noted at 30.5%, showing a significant improvement of 290 basis points from last year, largely due to effective supply chain transformations rather than shifts in market demand or pricing strategies.

Stanley Black & Decker: A Tale Of Market Diversification & Innovation! - Major Drivers

<ul><li>Stanley Black & Decker reported its 2024 second quarter results with a revenue of $4 billion, reflecting a 3% decrease compared to the previous year.</li><li>The decline includes 1% organic growth, offset by a 3% impact from infrastructure divestiture and a 1% effect from currency fluctuations.</li><li>Notably, organic growth was achieved through strong performance in the DEWALT brand, Outdoor product categories, and Engineered Fastening, although these gains were overshadowed by broader market challenges.</li></ul>

Stanley Black & Decker reported its 2024 second quarter results with a revenue of $4 billion, reflecting a 3% decrease compared to the previous year.The decline includes 1% organic growth, offset by a 3% impact from infrastructure divestiture and a 1% effect from currency fluctuations.Notably, organic growth was achieved through strong performance in the DEWALT brand, Outdoor product categories, and Engineered Fastening, although these gains were overshadowed by broader market challenges.

Stanley Black & Decker: How Is It Dealing With The Risk of Supply Chain Disruptions & Other Challenges? - Major Drivers

United States

Stanley Black & Decker Inc. is a diversified global provider of hand tools, power tools and related accessories, mechanical access and electronic security solutions, healthcare solutions, engineered fastening systems, and more.

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Stanley Black & Decker (SWK US)

Stanley Black & Decker: How Can It Deal With Supply Chain Overhaul Risks

Stanley Black & Decker reported a mixed set of results for the fourth quarter and full year of 2024. The company achieved some notable...

Baptista Research

Techtronic Industries (669 HK): JR Puts Down That Tool

Someone had an ax to grind with management. This type of research dost not just appear out of thin air. The static gross margin figures are...

David Blennerhassett

Time for Some Shorts For the Hong Kong Summer

Investors can sell/short certain sectors as tariff reprieve offers temporary relief, but a global slowdown and US recession still loom, impacting...

Rikki Malik

Stanley Black & Decker: A Tale Of Market Diversification & Innovation! - Major Drivers

Stanley Black & Decker, a renowned name in tools and related services, recently presented its third quarter earnings for the fiscal year...

Baptista Research

Stanley Black & Decker: How Is It Dealing With The Risk of Supply Chain Disruptions & Other Challenges? - Major Drivers

Stanley Black & Decker reported its 2024 second quarter results with a revenue of $4 billion, reflecting a 3% decrease compared to the...

Baptista Research

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Stanley Black & Decker: How Can It Deal With Supply Chain Overhaul Risks

Stanley Black & Decker reported a mixed set of results for the fourth quarter and full year of 2024. The company achieved some notable...

Baptista Research

Techtronic Industries (669 HK): JR Puts Down That Tool

Someone had an ax to grind with management. This type of research dost not just appear out of thin air. The static gross margin figures are...

David Blennerhassett

Time for Some Shorts For the Hong Kong Summer

​Investors can sell/short certain sectors as tariff reprieve offers temporary relief, but a global slowdown and US recession still loom, impacting...

Rikki Malik

Stanley Black & Decker: A Tale Of Market Diversification & Innovation! - Major Drivers

Stanley Black & Decker, a renowned name in tools and related services, recently presented its third quarter earnings for the fiscal year...

Baptista Research

Stanley Black & Decker: How Is It Dealing With The Risk of Supply Chain Disruptions & Other Challenges? - Major Drivers

Stanley Black & Decker reported its 2024 second quarter results with a revenue of $4 billion, reflecting a 3% decrease compared to the...

Baptista Research

Investors can sell/short certain sectors as tariff reprieve offers temporary relief, but a global slowdown and US recession still loom, impacting...