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>Starbucks' second quarter fiscal year 2024 results reflect the challenges and opportunities the company faces in a changing marketplace.</li><li>While global comparable store sales declined by 4% year-over-year and the company’s total revenue dipped by 1% to $8.6 billion, a decline in foot traffic in North America and a hefty decline of 11% in China being a few of the contributing factors.</li><li>The company was also affected by severe weather conditions, causing a nearly 3% impact on both US and total company comp during the quarter.</li></ul>

Starbucks' second quarter fiscal year 2024 results reflect the challenges and opportunities the company faces in a changing marketplace.While global comparable store sales declined by 4% year-over-year and the company’s total revenue dipped by 1% to $8.6 billion, a decline in foot traffic in North America and a hefty decline of 11% in China being a few of the contributing factors.The company was also affected by severe weather conditions, causing a nearly 3% impact on both US and total company comp during the quarter.

Starbucks Corporation: A Major Disappointment But These 6 Factors That Can Help Them Recover! - Major Drivers

<ul><li>Starbucks Corporation on its First Quarter Fiscal Year 2024 earnings call provided a detailed account of the firm's financial performance and future projections, endorsing its growth strategy despite short-term challenges.</li><li>Positively, the company managed to increase its Q1 total company revenue by 8% year-over-year to a record $9.4 billion.</li><li>Further, the firm's global comparable store sales witnessed a growth of 5% year-over-year, backed by a 5% comp growth in North America and a 10% comp growth in China.</li></ul>

Starbucks Corporation on its First Quarter Fiscal Year 2024 earnings call provided a detailed account of the firm's financial performance and future projections, endorsing its growth strategy despite short-term challenges.Positively, the company managed to increase its Q1 total company revenue by 8% year-over-year to a record $9.4 billion.Further, the firm's global comparable store sales witnessed a growth of 5% year-over-year, backed by a 5% comp growth in North America and a 10% comp growth in China.

Starbucks Corporation: Substantial Growth Through New Store Openings & Innovation!  - Major Drivers

<ul><li>Starbucks Corporation delivered an all-around beat in the previous quarter.</li><li>In the fourth quarter, their total revenue surged to an unprecedented $9.4 billion, showcasing an impressive 11% year-over-year increase.</li><li>Starbucks' stronghold in the US was evident, with a remarkable 12% revenue increase in the fourth quarter, supported by a significant 8% in comparable store sales.</li></ul>

Starbucks Corporation delivered an all-around beat in the previous quarter.In the fourth quarter, their total revenue surged to an unprecedented $9.4 billion, showcasing an impressive 11% year-over-year increase.Starbucks' stronghold in the US was evident, with a remarkable 12% revenue increase in the fourth quarter, supported by a significant 8% in comparable store sales.

Starbucks Corporation: A Tale Of U.S. Resilience

Overseas Chinese Equities, Aequitas Research

Ming Lu

Overseas Chinese Equities

IPOs and Placements coverage across Asia Pacific

Aequitas Research

We cover all listing across the Asia Pacific along with follow-up placements. As of Dec 2020, our team had covered 539 IPOs with a hit rate of 73.5% and 685 placements with a hit rate of 66.8%.

We combine fundamental bottom-up views with our proprietary quantitative framework to provide a holistic coverage across new listings and placements. Our coverage includes pre-IPO notes before the deal is launched, follow-up analysis once the deal is live and post-listing trading analysis as well.

<ul>
<li>In June quarter Starbucks comparable store sales increased 46% YoY and reached to 80% of the level in the same period of 2021.</li>
<li>China revenue increase purely came from transaction, but not average ticket.</li>
<li>We believe Starbucks China data can be a good monitor of Chinese economy.</li>
</ul>


In June quarter Starbucks comparable store sales increased 46% YoY and reached to 80% of the level in the same period of 2021.
China revenue increase purely came from transaction, but not average ticket.
We believe Starbucks China data can be a good monitor of Chinese economy.


Starbucks (SBUX): Another Monitor of China Consumption

<ul><li>Starbucks Corporation delivered mixed results in the quarter, with revenues below Wall Street expectations but managed a significant earnings beat.</li><li>In North America, the company's revenue growth was driven by strong same-store sales and operational improvements.</li><li>Starbucks' digital strategy, mainly through Starbucks Rewards, showed good growth, reflecting the brand's strength in key markets.</li></ul>

Starbucks Corporation delivered mixed results in the quarter, with revenues below Wall Street expectations but managed a significant earnings beat.In North America, the company's revenue growth was driven by strong same-store sales and operational improvements.Starbucks' digital strategy, mainly through Starbucks Rewards, showed good growth, reflecting the brand's strength in key markets.

Starbucks Corporation: From Digital Dominance to Chinese Conquest – What's Next? - Major Drivers

United States

Starbucks Corporation retails, roasts, and provides its own brand of specialty coffee. The Company operates retail locations worldwide and sells whole bean coffees through its sales group, direct response business, supermarkets, and on the World Wide Web. Starbucks also produces and sells bottled coffee drinks and a line of ice creams.

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Starbucks Corp (SBUX US)

Starbucks Corporation: A Major Disappointment But These 6 Factors That Can Help Them Recover! - Major Drivers

Starbucks' second quarter fiscal year 2024 results reflect the challenges and opportunities the company faces in a changing marketplace. While...

Baptista Research

Starbucks Corporation: Substantial Growth Through New Store Openings & Innovation! - Major Drivers

Starbucks Corporation on its First Quarter Fiscal Year 2024 earnings call provided a detailed account of the firm's financial performance and...

Baptista Research

Starbucks Corporation: A Tale Of U.S. Resilience

Starbucks Corporation delivered an all-around beat in the previous quarter. In the fourth quarter, their total revenue surged to an unprecedented...

Baptista Research

Starbucks (SBUX): Another Monitor of China Consumption

In June quarter Starbucks comparable store sales increased 46% YoY and covered to 80% of the level in the same period of 2021. China revenue...

Ming Lu

Starbucks Corporation: From Digital Dominance to Chinese Conquest – What's Next? - Major Drivers

Starbucks Corporation delivered mixed results in the quarter, with revenues below Wall Street expectations but managed a significant earnings...

Baptista Research

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