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>The Walt Disney Company reported a fiscal third quarter characterized by strong revenue and operating income growth, with total segment operating income increasing 21% and overall company revenue rising 7%.</li><li>The Disney Experiences segment notably delivered record revenue and operating income, supported by 4% global guest growth and 3% attendance growth at domestic parks.</li><li>Per capita spending at these parks also grew by 4%, reflecting both volume and pricing strength.</li></ul>

The Walt Disney Company reported a fiscal third quarter characterized by strong revenue and operating income growth, with total segment operating income increasing 21% and overall company revenue rising 7%.The Disney Experiences segment notably delivered record revenue and operating income, supported by 4% global guest growth and 3% attendance growth at domestic parks.Per capita spending at these parks also grew by 4%, reflecting both volume and pricing strength.

Disney Unlocks More Value From Toy Story, ESPN & Its IP Ecosystem; But Is It Enough?

Research from Value Investing, Value Investing

Value Investing

Research from Value Investing

I am a value investor. "Value", as defined in Value Investing, is simply the act of buying something for less than its worth. I treat my equity investment as a loan to the business - where the priority is to get back my principal in full, rather than achieving maximum yield. I consider my equity investment as a slightly higher risk loan extended to the business with slightly more accommodative loan covenants - hence justifying a slightly higher yield. While I identify as a value investor and cover all stocks and macro topics indiscriminately, most of my research will have an ASEAN bent as that’s where I’m geographically located.

<ul><li>Imagine a racetrack with 10 horses. The first two horses (NFLX and DIS) are peeling away from everyone else; with NFLX still having a sizeable lead over DIS.</li><li>But the stage is set for DIS to start accelerating faster than NFLX.</li><li>This is how I would describe the US Media sector today, and Disney’s Q1 results released yesterday only serves to bolster that narrative.</li></ul>

Imagine a racetrack with 10 horses. The first two horses (NFLX and DIS) are peeling away from everyone else; with NFLX still having a sizeable lead over DIS.But the stage is set for DIS to start accelerating faster than NFLX.This is how I would describe the US Media sector today, and Disney’s Q1 results released yesterday only serves to bolster that narrative.

Disney Q1 Earnings: Finally Ready to Take Share from Netflix

<ul><li>The Walt Disney Company's recent quarterly results highlight a measured expansion in both revenue and profitability within a competitive landscape.</li><li>For the quarter, the company reported a 7% increase in revenue to $25.2 billion and a 4% rise in total segment operating income to $4.6 billion.</li><li>Adjusted earnings per share grew by 8%, reaching $1.57, marginally surpassing prior guidance largely due to stronger-than-anticipated revenue growth.</li></ul>

The Walt Disney Company's recent quarterly results highlight a measured expansion in both revenue and profitability within a competitive landscape.For the quarter, the company reported a 7% increase in revenue to $25.2 billion and a 4% rise in total segment operating income to $4.6 billion.Adjusted earnings per share grew by 8%, reaching $1.57, marginally surpassing prior guidance largely due to stronger-than-anticipated revenue growth.

Disney’s $1.9 Billion Zootopia 2 Win: Is The IP Engine Back In Control?

<ul><li>For decades, Disney’s formula looked straightforward: create a hit film, extend it through television, sell merchandise, and eventually build a park attraction around the most durable characters.</li><li>That model still exists, but it is no longer the whole story.</li><li>What now stands out is Disney’s effort to turn its intellectual property into a continuous experience that moves across screens, destinations, formats, and fan behavior.</li></ul>

For decades, Disney’s formula looked straightforward: create a hit film, extend it through television, sell merchandise, and eventually build a park attraction around the most durable characters.That model still exists, but it is no longer the whole story.What now stands out is Disney’s effort to turn its intellectual property into a continuous experience that moves across screens, destinations, formats, and fan behavior.

Disney Isn’t A Streaming Company Anymore—It’s An Experience Machine!

<ul><li>The Walt Disney Company's Q1 2026 earnings report presents a multifaceted view of the company's current state and future prospects.</li><li>One clear highlight is the strong performance of the company's Entertainment segment, which posted over $6.5 billion at the global box office for 2025, with major titles like "Avatar: Fire and Ash" and "Zootopia 2" significantly contributing to this success.</li><li>These films not only achieved high box office figures but also provided value across Disney's interconnected businesses, such as streaming on Disney+ and driving global theme park interest.</li></ul>

The Walt Disney Company's Q1 2026 earnings report presents a multifaceted view of the company's current state and future prospects.One clear highlight is the strong performance of the company's Entertainment segment, which posted over $6.5 billion at the global box office for 2025, with major titles like "Avatar: Fire and Ash" and "Zootopia 2" significantly contributing to this success.These films not only achieved high box office figures but also provided value across Disney's interconnected businesses, such as streaming on Disney+ and driving global theme park interest.

Disney Is Betting Big on Experiences, IP, and AI — Here’s Where the Real Earnings Leverage Lies!

United States

The Walt Disney Company is an entertainment company that conducts operations in media networks, studio entertainment, theme parks and resorts, consumer products, and interactive media. The Company produces motion pictures, television programs, and musical recordings, as well as books and magazines.

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The Walt Disney Co (DIS US)

Disney Unlocks More Value From Toy Story, ESPN & Its IP Ecosystem; But Is It Enough?

The Walt Disney Company reported a fiscal third quarter characterized by strong revenue and operating income growth, with total segment operating...

Baptista Research

Disney’s $1.9 Billion Zootopia 2 Win: Is The IP Engine Back In Control?

The Walt Disney Company's recent quarterly results highlight a measured expansion in both revenue and profitability within a competitive...

Baptista Research

Disney Isn’t A Streaming Company Anymore—It’s An Experience Machine!

For decades, Disney’s formula looked straightforward: create a hit film, extend it through television, sell merchandise, and eventually build a...

Baptista Research

Disney Is Betting Big on Experiences, IP, and AI — Here’s Where the Real Earnings Leverage Lies!

The Walt Disney Company's Q1 2026 earnings report presents a multifaceted view of the company's current state and future prospects. One clear...

Baptista Research

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Disney Unlocks More Value From Toy Story, ESPN & Its IP Ecosystem; But Is It Enough?

The Walt Disney Company reported a fiscal third quarter characterized by strong revenue and operating income growth, with total segment operating...

Baptista Research

Disney Q1 Earnings: Finally Ready to Take Share from Netflix

Imagine a racetrack with 10 horses. The first two horses (NFLX and DIS) are peeling away from everyone else; with NFLX still having a sizeable lead...

Value Investing

Disney’s $1.9 Billion Zootopia 2 Win: Is The IP Engine Back In Control?

The Walt Disney Company's recent quarterly results highlight a measured expansion in both revenue and profitability within a competitive...

Baptista Research

Disney Isn’t A Streaming Company Anymore—It’s An Experience Machine!

For decades, Disney’s formula looked straightforward: create a hit film, extend it through television, sell merchandise, and eventually build a...

Baptista Research

Disney Is Betting Big on Experiences, IP, and AI — Here’s Where the Real Earnings Leverage Lies!

The Walt Disney Company's Q1 2026 earnings report presents a multifaceted view of the company's current state and future prospects. One clear...

Baptista Research