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>Stellantis' full-year 2024 results present a period of transition and challenge for the company as it navigates a demanding market environment.</li>
<li>The company emphasized a strong focus on product launches, stakeholder trust, and regional empowerment.</li>
<li>Notably, Stellantis launched new models in both the U.S. and Europe, such as the Dodge Daytona, Wagoneer S, and Grande Panda, indicating a strategic push to capture consumer interest.</li>
</ul>


Stellantis' full-year 2024 results present a period of transition and challenge for the company as it navigates a demanding market environment.
The company emphasized a strong focus on product launches, stakeholder trust, and regional empowerment.
Notably, Stellantis launched new models in both the U.S. and Europe, such as the Dodge Daytona, Wagoneer S, and Grande Panda, indicating a strategic push to capture consumer interest.


Stellantis: Is There Any Scope For Market Share Improvement In The Near Future?

Managing Director, Zero One, Zero One

Vincent Fernando, CFA

Managing Director, Zero One

Zero One

Founded in 2015, Zero One produces independent investment research and provides corporate finance advisory services with a focus on both listed and private technology companies. Founder Vincent Fernando has over 20 years of experience in US and Asia capital markets.

Independent Investment Research

TSMC (Taiwan Semiconductor Manufacturing) / Equity Bottom-Up

TSMC (Taiwan Semiconductor Manufacturing) (TSM US)

TSMC (Taiwan Semiconductor Manufacturing)

<ul>
<li>Trump Adminstration Gearing Up to Further Restrict China's Access to Chip Technology -- Could Restrict Servicing of Existing Equipment</li>
<li>Foxconn and Honda: Could This Be a New Alliance in EV Manufacturing?</li>
<li>TSMC (2330.TT; TSM.US): Will TSMC Work on Intel Foundry Services? There Are Three Paradoxes... </li>
</ul>


Trump Adminstration Gearing Up to Further Restrict China's Access to Chip Technology -- Could Restrict Servicing of Existing Equipment
Foxconn and Honda: Could This Be a New Alliance in EV Manufacturing?
TSMC (2330.TT; TSM.US): Will TSMC Work on Intel Foundry Services? There Are Three Paradoxes... 


Taiwan Tech Weekly: Trump's New China Chip Restrictions; Foxconn & Honda Alliance?; TSMC & Intel

<ul>
<li>Stellantis finds itself at a crossroads after a turbulent year that culminated in the resignation of CEO Carlos Tavares.</li>
<li>Once praised for his transformative leadership at Peugeot and Opel, Tavares faced mounting challenges at Stellantis that sealed his fate.</li>
<li>In 2024, the company grappled with plummeting stock prices, overstocked dealer inventories, and declining earnings.</li>
</ul>


Stellantis finds itself at a crossroads after a turbulent year that culminated in the resignation of CEO Carlos Tavares.
Once praised for his transformative leadership at Peugeot and Opel, Tavares faced mounting challenges at Stellantis that sealed his fate.
In 2024, the company grappled with plummeting stock prices, overstocked dealer inventories, and declining earnings.


What Stellantis’ CEO Resignation Means for the Company’s Struggling Future!

<ul>
<li>Stellantis' financial report for the first half of 2024 revealed mixed results, underlining both challenges and strategic responses aimed at driving future growth.</li>
<li>The key takeaways from the discussion highlighted by CEO Carlos Tavares and CFO Natalie Knight reflect a tumultuous period for the automaker, characterized by significant operational and market challenges, alongside aggressive plans for recovery and product innovation.</li>
<li>Baptista Research looks to evaluate the different factors that could influence the company's price in the near future and attempts to carry out an independent valuation of the company using a Discounted Cash Flow (DCF) methodology.</li>
</ul>


Stellantis' financial report for the first half of 2024 revealed mixed results, underlining both challenges and strategic responses aimed at driving future growth.
The key takeaways from the discussion highlighted by CEO Carlos Tavares and CFO Natalie Knight reflect a tumultuous period for the automaker, characterized by significant operational and market challenges, alongside aggressive plans for recovery and product innovation.
Baptista Research looks to evaluate the different factors that could influence the company's price in the near future and attempts to carry out an independent valuation of the company using a Discounted Cash Flow (DCF) methodology.


Stellantis N.V.: A Tale Technological Innovation & Brand Portfolio Expansion! - Major Drivers

Asian Insight Provider - Actionable ideas, CrossASEAN Research

Henry Soediarko

Asian Insight Provider - Actionable ideas

CrossASEAN Research

At CrossASEAN Research we strive to produce unbiased and differentiated on the ground insights on companies across South East Asia. Our Research is produced for the most part after face to face meetings and conversations with company management to dig deep into the long term vision and strategy of the companies we cover. We seek to deliver investable and actionable themes on sectors and markets across SE Asia, often in collaboration with other Insight Providers across the region, pooling the vast experience of the analysts within the Smartkarma Ecosystem. We also offer bespoke work and tailor made trips for our clients. 

Insights across South East Asia

<ul>
<li>
<a href="https://www.smartkarma.com/entities/minth-group-ltd" target="_blank" data-smartkarma-citation="entities:9232:1" rel="noopener">Minth Group Ltd (425 HK)</a> revenue went up by 14% (almost 3x of China’s passenger vehicle market, which grew 5%) and net income by 20% on 1H 24</li>
<li>It has developed <strong>environmentally friendly collision aluminum</strong>, with a carbon emission of less than 2.5 kg CO2 /Kg.AL while typically it produces 16 CO2/kg.AL</li>
<li>Battery housing business contributed 21% instead of 18% of total revenue with OPM expanded from 18% to 20%. </li>
</ul>



Minth Group Ltd (425 HK) revenue went up by 14% (almost 3x of China’s passenger vehicle market, which grew 5%) and net income by 20% on 1H 24
It has developed environmentally friendly collision aluminum, with a carbon emission of less than 2.5 kg CO2 /Kg.AL while typically it produces 16 CO2/kg.AL
Battery housing business contributed 21% instead of 18% of total revenue with OPM expanded from 18% to 20%. 


Minth (425): Battery Housing as New Growth Driver

Netherlands

Stellantis is a multinational automotive manufacturing corporation that designs, engineers, manufactures, distributes, and sells vehicles and components. Formed in 2021 through the merger of Fiat Chrysler Automobiles and PSA Group, the company offers a portfolio of 14 iconic vehicle brands including Jeep, Peugeot, Citroën, Fiat, and Dodge. Stellantis is headquartered in Hoofddorp, Netherlands, and was founded on January 17, 2021.

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Stellantis (STLAM IM)

Taiwan Tech Weekly: Trump's New China Chip Restrictions; Foxconn & Honda Alliance?; TSMC & Intel

Trump Admin preparing to further limit China's chip access; Foxconn and Honda potentially teaming up for EVs; TSMC considering Intel foundry...

Vincent Fernando, CFA

What Stellantis’ CEO Resignation Means for the Company’s Struggling Future!

Once praised for his transformative leadership at Peugeot and Opel, Tavares faced mounting challenges at Stellantis that sealed his fate.

Baptista Research

Stellantis N.V.: A Tale Technological Innovation & Brand Portfolio Expansion! - Major Drivers

Stellantis' financial report for the first half of 2024 revealed mixed results, underlining both challenges and strategic responses aimed at...

Baptista Research

Minth (425): Battery Housing as New Growth Driver

Dirt cheap valuation (-27% YTD) while numbers have improved. Produced an environmentally friendly aluminum with 85% less emissions compared to...

Henry Soediarko

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Stellantis: Is There Any Scope For Market Share Improvement In The Near Future?

Stellantis' full-year 2024 results present a period of transition and challenge for the company as it navigates a demanding market environment.

Baptista Research

Taiwan Tech Weekly: Trump's New China Chip Restrictions; Foxconn & Honda Alliance?; TSMC & Intel

​Trump Admin preparing to further limit China's chip access; Foxconn and Honda potentially teaming up for EVs; TSMC considering Intel foundry...

Vincent Fernando, CFA

What Stellantis’ CEO Resignation Means for the Company’s Struggling Future!

Once praised for his transformative leadership at Peugeot and Opel, Tavares faced mounting challenges at Stellantis that sealed his fate.

Baptista Research

Stellantis N.V.: A Tale Technological Innovation & Brand Portfolio Expansion! - Major Drivers

Stellantis' financial report for the first half of 2024 revealed mixed results, underlining both challenges and strategic responses aimed at...

Baptista Research

Minth (425): Battery Housing as New Growth Driver

Dirt cheap valuation (-27% YTD) while numbers have improved. Produced an environmentally friendly aluminum with 85% less emissions compared to...

Henry Soediarko

Trump Admin preparing to further limit China's chip access; Foxconn and Honda potentially teaming up for EVs; TSMC considering Intel foundry...