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>Tenet Healthcare reported a robust financial performance for the third quarter of 2025, exceeding expectations with significant growth in revenue and EBITDA.</li><li>The company's net operating revenue reached $5.3 billion, demonstrating strong operational efficiency and growth.</li><li>Consolidated adjusted EBITDA was reported at $1.1 billion, which marked a 12% year-over-year increase and reflected an improved EBITDA margin of 20.8%.</li></ul>

Tenet Healthcare reported a robust financial performance for the third quarter of 2025, exceeding expectations with significant growth in revenue and EBITDA.The company's net operating revenue reached $5.3 billion, demonstrating strong operational efficiency and growth.Consolidated adjusted EBITDA was reported at $1.1 billion, which marked a 12% year-over-year increase and reflected an improved EBITDA margin of 20.8%.

Tenet Healthcare’s Multi-Billion Bet on Tech & M&A – Will It Pay Off?

<ul><li>Tenet Healthcare Corporation reported strong financial results for the second quarter of 2025.</li><li>The company achieved net operating revenues of $5.3 billion and a consolidated adjusted EBITDA of $1.121 billion, reflecting a 19% increase from the previous year.</li><li>The adjusted EBITDA margin was 21.3%, up 280 basis points compared to the prior year, driven by efficient operations and robust same-store growth.</li></ul>

Tenet Healthcare Corporation reported strong financial results for the second quarter of 2025.The company achieved net operating revenues of $5.3 billion and a consolidated adjusted EBITDA of $1.121 billion, reflecting a 19% increase from the previous year.The adjusted EBITDA margin was 21.3%, up 280 basis points compared to the prior year, driven by efficient operations and robust same-store growth.

Tenet Healthcare Launches Bold $1.5 Billion Buyback Amid Aggressive Growth Push!

<ul><li>Tenet Healthcare Corporation reported strong financial results for the first quarter of 2025, showcasing significant year-over-year growth in key financial metrics.</li><li>The company's net operating revenues reached $5.2 billion, with a consolidated adjusted EBITDA of $1.163 billion, representing a 14% growth from the previous year.</li><li>The EBITDA margin also improved to 22.3%, a substantial 320 basis point increase, indicating improved operational efficiency and cost management.</li></ul>

Tenet Healthcare Corporation reported strong financial results for the first quarter of 2025, showcasing significant year-over-year growth in key financial metrics.The company's net operating revenues reached $5.2 billion, with a consolidated adjusted EBITDA of $1.163 billion, representing a 14% growth from the previous year.The EBITDA margin also improved to 22.3%, a substantial 320 basis point increase, indicating improved operational efficiency and cost management.

Tenet Healthcare’s $250M Acquisition Blitz Is Fueling a High-Acuity Revolution – What Lies Ahead?

<ul><li>Tenet Healthcare's performance for the fourth quarter of 2024 and the full year was marked by significant operational achievements and strategic transactions aimed at strengthening its financial posture and business flexibility.</li><li>The company reported net operating revenues of $20.7 billion with a consolidated adjusted EBITDA of $4 billion for the year, reflecting a 13% increase over 2023 and an enhanced EBITDA margin of 19.3%.</li><li>This performance was buoyed by robust same-store revenue growth across its segments and disciplined cost management.</li></ul>

Tenet Healthcare's performance for the fourth quarter of 2024 and the full year was marked by significant operational achievements and strategic transactions aimed at strengthening its financial posture and business flexibility.The company reported net operating revenues of $20.7 billion with a consolidated adjusted EBITDA of $4 billion for the year, reflecting a 13% increase over 2023 and an enhanced EBITDA margin of 19.3%.This performance was buoyed by robust same-store revenue growth across its segments and disciplined cost management.

Tenet Healthcare: USPI Resiliency & Growth Driving Our 'Buy' Rating!

Global Healthcare Analyst

Tina Banerjee

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<li>
<a href="https://www.smartkarma.com/entities/asahi-intecc-co-ltd" target="_blank" data-smartkarma-citation="entities:15915:1" rel="noopener">Asahi Intecc (7747 JP)</a> is poised for multi-year growth through strong market demand for its technically superior guidewires, market leadership positioning, new product launches, and direct marketing initiatives.</li>
<li>In FY24, Asahi Intecc aims to achieve revenue of ¥100B (+11% YoY), a significant milestone. The company targets revenue of ¥110B and an operating profit margin of 23–25% in FY26.</li>
<li>Asahi Intecc is expected to be a continued beneficiary of global procedure volume recovery. The company is likely to achieve its medium-term business plan ahead of schedule.</li>
</ul>



Asahi Intecc (7747 JP) is poised for multi-year growth through strong market demand for its technically superior guidewires, market leadership positioning, new product launches, and direct marketing initiatives.
In FY24, Asahi Intecc aims to achieve revenue of ¥100B (+11% YoY), a significant milestone. The company targets revenue of ¥110B and an operating profit margin of 23–25% in FY26.
Asahi Intecc is expected to be a continued beneficiary of global procedure volume recovery. The company is likely to achieve its medium-term business plan ahead of schedule.


2024 High Conviction: Asahi Intecc (7747 JP)- Procedure Volume Recovery to Accelerate Growth

United States

Tenet Healthcare Corporation, through its subsidiaries, owns or operates general hospitals and related health care facilities serving communities in the United States.  The Company operates rehabilitation hospitals, specialty hospitals, long-term care facilities, psychiatric facilities, and medical office buildings near its general hospitals, as well as ancillary health care businesses.

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Tenet Healthcare (THC US)

Tenet Healthcare’s Multi-Billion Bet on Tech & M&A – Will It Pay Off?

Tenet Healthcare reported a robust financial performance for the third quarter of 2025, exceeding expectations with significant growth in revenue...

Baptista Research

Tenet Healthcare Launches Bold $1.5 Billion Buyback Amid Aggressive Growth Push!

Tenet Healthcare Corporation reported strong financial results for the second quarter of 2025. The company achieved net operating revenues of $5.3...

Baptista Research

Tenet Healthcare’s $250M Acquisition Blitz Is Fueling a High-Acuity Revolution – What Lies Ahead?

Tenet Healthcare Corporation reported strong financial results for the first quarter of 2025, showcasing significant year-over-year growth in key...

Baptista Research

Tenet Healthcare: USPI Resiliency & Growth Driving Our 'Buy' Rating!

Tenet Healthcare's performance for the fourth quarter of 2024 and the full year was marked by significant operational achievements and strategic...

Baptista Research

2024 High Conviction: Asahi Intecc (7747 JP)- Procedure Volume Recovery to Accelerate Growth

Asahi Intecc is poised for double-digit sales growth through FY26, driven by strong market demand for guidewires, market leadership positioning,...

Tina Banerjee

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