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 reported its second-quarter 2026 financial results reflecting continued year-over-year improvements across key metrics, aligned with its broader FaSTLAne 2030 strategic plan.</li>
<li>Consolidated shipments increased 10% to 1.6 million units, driven primarily by growth in North America and Europe, with net revenues rising 13% to EUR 43.5 billion.</li>
<li>Adjusted operating income (AOI) improved by EUR 560 million to EUR 773 million, with the AOI margin expanding by 120 basis points to 1.8%.</li>
</ul>


Stellantis reported its second-quarter 2026 financial results reflecting continued year-over-year improvements across key metrics, aligned with its broader FaSTLAne 2030 strategic plan.
Consolidated shipments increased 10% to 1.6 million units, driven primarily by growth in North America and Europe, with net revenues rising 13% to EUR 43.5 billion.
Adjusted operating income (AOI) improved by EUR 560 million to EUR 773 million, with the AOI margin expanding by 120 basis points to 1.8%.


Stellantis N.V.’s Leapmotor Push — Could EV Growth Reshape Its European Recovery?

Smartkarma AI Primers, Smartkarma

αSK Primers

Smartkarma AI Primers

Smartkarma

Smartkarma unites the fragmented investment industry, connecting institutional investors, independent research providers, and corporates within a single network.

Research Reinvented

<ul>
 <li>
<a href="https://smartkarma.com/entities/stellantis-n-v">Stellantis</a> is navigating a challenging industry transformation, marked by a significant downturn in recent financial performance, including a net loss in 2025. The company's recovery hinges on the execution of its new 'FaSTLAne 2030' strategic plan, which prioritizes investment in its core brands (Jeep, Ram, Peugeot, Fiat) and a renewed focus on the North American market.</li>
 <li>The company's valuation appears deeply discounted compared to peers, reflecting significant investor concern over its European market exposure, execution risks in its EV transition, and recent profitability struggles. While a Q2 2026 return to profitability signals a potential turnaround, margins remain thin, and the recovery is fragile.</li>
 <li>Key to future success will be the 'Dare Forward 2030' and 'FaSTLAne 2030' initiatives, which target ambitious goals in electrification (50% of US sales and 100% of European sales to be BEVs by 2030), software development, and cost efficiencies. Management's ability to navigate intense competition, particularly from new EV entrants, and manage a complex portfolio of 14 brands will be critical.</li>
</ul>This content is AI-generated and displayed for general informational purposes only. Please verify independently before use.


  
Stellantis is navigating a challenging industry transformation, marked by a significant downturn in recent financial performance, including a net loss in 2025. The company's recovery hinges on the execution of its new 'FaSTLAne 2030' strategic plan, which prioritizes investment in its core brands (Jeep, Ram, Peugeot, Fiat) and a renewed focus on the North American market.
  The company's valuation appears deeply discounted compared to peers, reflecting significant investor concern over its European market exposure, execution risks in its EV transition, and recent profitability struggles. While a Q2 2026 return to profitability signals a potential turnaround, margins remain thin, and the recovery is fragile.
  Key to future success will be the 'Dare Forward 2030' and 'FaSTLAne 2030' initiatives, which target ambitious goals in electrification (50% of US sales and 100% of European sales to be BEVs by 2030), software development, and cost efficiencies. Management's ability to navigate intense competition, particularly from new EV entrants, and manage a complex portfolio of 14 brands will be critical.
This content is AI-generated and displayed for general informational purposes only. Please verify independently before use.

<ul>
 <li>Stellantis is at a critical juncture, navigating a significant operational and financial downturn while implementing an ambitious, capital-intensive turnaround strategy focused on electrification and product portfolio renewal.</li>
 <li>The company's valuation appears deeply discounted relative to peers, reflecting severe market pessimism over its recent performance, negative growth track record, and the high execution risk associated with its strategic shift.</li>
 <li>Future success hinges on the new management's ability to execute the 'FaSTLAne 2030' plan, which aims to launch over 60 new vehicles, reverse market share losses in North America, and manage the complex transition to electric and software-defined vehicles amid intense industry competition.</li>
</ul>This content is AI-generated and displayed for general informational purposes only. Please verify independently before use.


  Stellantis is at a critical juncture, navigating a significant operational and financial downturn while implementing an ambitious, capital-intensive turnaround strategy focused on electrification and product portfolio renewal.
  The company's valuation appears deeply discounted relative to peers, reflecting severe market pessimism over its recent performance, negative growth track record, and the high execution risk associated with its strategic shift.
  Future success hinges on the new management's ability to execute the 'FaSTLAne 2030' plan, which aims to launch over 60 new vehicles, reverse market share losses in North America, and manage the complex transition to electric and software-defined vehicles amid intense industry competition.
This content is AI-generated and displayed for general informational purposes only. Please verify independently before use.

Primer: Stellantis NV (STLA US) - Aug 2026

<ul>
<li>Stellantis appears to be regaining momentum in North America after a difficult period marked by product gaps, falling market share and pressure on dealer relationships.</li>
<li>The automaker estimated that its global shipments increased 10% year over year to roughly 1.6 million vehicles in the second quarter of 2026, led by a striking 38% increase in North America.</li>
<li>That regional jump represented approximately 122,000 additional vehicles and reflected the arrival of new or refreshed models across the Jeep, Ram, Dodge and Chrysler portfolios.</li>
</ul>


Stellantis appears to be regaining momentum in North America after a difficult period marked by product gaps, falling market share and pressure on dealer relationships.
The automaker estimated that its global shipments increased 10% year over year to roughly 1.6 million vehicles in the second quarter of 2026, led by a striking 38% increase in North America.
That regional jump represented approximately 122,000 additional vehicles and reflected the arrival of new or refreshed models across the Jeep, Ram, Dodge and Chrysler portfolios.


Stellantis’ Jeep, Ram & Dodge Revival Is Turning Heads!

Asset Allocation & Fund Positioning, Copley Fund Research

Steven Holden

Asset Allocation & Fund Positioning

Copley Fund Research

Copley Fund Research provide research and data on asset allocation among Global and Emerging Market equity funds.  The analysis details absolute and relative positioning across countries, sectors and industries together with highly granular data on single stock and single fund allocations.  The data is updated monthly with time series going back to January 2011.

Global Research - Analysis of 165 prominent Global equity funds, combined AUM $335bn
GEM Research - Analysis of 127 prominent global EM equity funds, combined AUM $250bn

Asset Allocation - Global and GEM Equity

Thematic (Sector/Industry)

<ul>
<li>Global fund positioning in the Motor Vehicles sector has entered a fresh decline following a revival between 2020 and 2023.</li>
<li>A record-low 10% of active Global funds are now overweight, with the sector holding an average underweight of -1.41%, making it the 4th largest industry-level underweight among active managers.</li>
<li>Long-Term declines in Japanese autos have hit new lows, while German and US autos have drifted lower since 2023.</li>
</ul>


Global fund positioning in the Motor Vehicles sector has entered a fresh decline following a revival between 2020 and 2023.
A record-low 10% of active Global funds are now overweight, with the sector holding an average underweight of -1.41%, making it the 4th largest industry-level underweight among active managers.
Long-Term declines in Japanese autos have hit new lows, while German and US autos have drifted lower since 2023.


Global Autos:  Falling Investor Confidence

United States

Stellantis NV manufactures and markets automobiles and commercial vehicles. The Company also produces metallurgical products and production systems for the automobile industry, as well as owns publishing and insurance companies. Stellantis serves customers worldwide.

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Stellantis NV (STLA US)

Stellantis N.V.’s Leapmotor Push — Could EV Growth Reshape Its European Recovery?

Stellantis reported its second-quarter 2026 financial results reflecting continued year-over-year improvements across key metrics, aligned with its...

Baptista Research

Primer: Stellantis (STLAM IM) - Aug 2026

Stellantis is navigating a challenging industry transformation, marked by a significant downturn in recent financial performance, including a...

αSK Primers

Primer: Stellantis NV (STLA US) - Aug 2026

Stellantis is at a critical juncture, navigating a significant operational and financial downturn while implementing an ambitious,...

αSK Primers

Stellantis’ Jeep, Ram & Dodge Revival Is Turning Heads!

Stellantis appears to be regaining momentum in North America after a difficult period marked by product gaps, falling market share and pressure on...

Baptista Research

Global Autos: Falling Investor Confidence

Tesla overtakes Stellantis as the most widely held Auto company. General Motors is ahead of the almost uninvestable Ford Motor Co.

Steven Holden

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