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>Toll Brothers reported solid performance for the fiscal year 2025 despite a challenging sales environment due to broader market factors such as affordability pressures and interest rate fluctuations.</li><li>The company posted record home sales revenue of $10.8 billion, generated from the delivery of 11,292 homes at an average price of $960,000.</li><li>Their adjusted gross margin stood at a strong 27.3%, with a return on beginning equity of 17.6%.</li></ul>

Toll Brothers reported solid performance for the fiscal year 2025 despite a challenging sales environment due to broader market factors such as affordability pressures and interest rate fluctuations.The company posted record home sales revenue of $10.8 billion, generated from the delivery of 11,292 homes at an average price of $960,000.Their adjusted gross margin stood at a strong 27.3%, with a return on beginning equity of 17.6%.

Toll Brothers Is Scaling Active Adult Communities — But How Durable Is This Growth Engine?

<ul><li>Toll Brothers, a prominent player in the luxury home building market, shared optimistic third-quarter results for fiscal year 2025.</li><li>The company delivered 2,959 homes, which contributed to record third-quarter home sale revenues of $2.9 billion, with an average home price of $974,000.</li><li>This robust performance underscores the firm's strategic focus on maintaining high margins rather than increasing sales pace.</li></ul>

Toll Brothers, a prominent player in the luxury home building market, shared optimistic third-quarter results for fiscal year 2025.The company delivered 2,959 homes, which contributed to record third-quarter home sale revenues of $2.9 billion, with an average home price of $974,000.This robust performance underscores the firm's strategic focus on maintaining high margins rather than increasing sales pace.

Toll Brothers: Navigating Interest Rate Changes & Housing Demand While Executing Community Expansion!

<ul><li>During its second quarter earnings for fiscal 2025, Toll Brothers, Inc. outlined its financial and operational performance amidst a challenging economic environment, providing insights into its strategies and market outlook.</li><li>Toll Brothers reported robust financial performance for the second quarter, achieving record second quarter home sales revenue of $2.71 billion, which surpassed the midpoint of their guidance by $236 million.</li><li>They delivered 2,899 homes at an average selling price of approximately $934,000.</li></ul>

During its second quarter earnings for fiscal 2025, Toll Brothers, Inc. outlined its financial and operational performance amidst a challenging economic environment, providing insights into its strategies and market outlook.Toll Brothers reported robust financial performance for the second quarter, achieving record second quarter home sales revenue of $2.71 billion, which surpassed the midpoint of their guidance by $236 million.They delivered 2,899 homes at an average selling price of approximately $934,000.

Toll Brothers: Will Its Spec Home Strategy & Market Adaptation Be A Breakthrough Move?

<ul><li>Toll Brothers, a prominent luxury homebuilder, delivered a robust performance in the fourth quarter of fiscal 2024, demonstrating resilience and adaptability amidst external challenges.</li><li>The company's financial results were highlighted by a significant increase in home deliveries and sales revenues.</li><li>It delivered 3,431 homes, marking a year-over-year increase of 25% in unit delivery and a 10% rise in revenue, totaling $3.3 billion.</li></ul>

Toll Brothers, a prominent luxury homebuilder, delivered a robust performance in the fourth quarter of fiscal 2024, demonstrating resilience and adaptability amidst external challenges.The company's financial results were highlighted by a significant increase in home deliveries and sales revenues.It delivered 3,431 homes, marking a year-over-year increase of 25% in unit delivery and a 10% rise in revenue, totaling $3.3 billion.

Toll Brothers: Community Growth & Product Diversification Fueling Our 'Buy' Rating! - Major Drivers

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Thematic (Sector/Industry)

<ul>
<li>The US economy’s resilience hasn’t come from the many – it’s come from the top 10% as the “wealth effect” from rising asset prices has boosted spending.</li>
<li>But it works in reverse too.  Since the richest make up nearly half of America’s consumer spending, that could lead to a serious economic fallout.</li>
<li>It’s worth considering protecting your portfolio. I’ve pulled together one list of companies that should do well and another that could suffer from the change in climate.</li>
</ul>


The US economy’s resilience hasn’t come from the many – it’s come from the top 10% as the “wealth effect” from rising asset prices has boosted spending.
But it works in reverse too.  Since the richest make up nearly half of America’s consumer spending, that could lead to a serious economic fallout.
It’s worth considering protecting your portfolio. I’ve pulled together one list of companies that should do well and another that could suffer from the change in climate.


A Defensive Portfolio Prepared For The Wealth Effect’s Reversal

United States

Toll Brothers, Inc. builds luxury homes, serving both move-up and empty nester buyers in several regions of the United States.  The Company builds customized single and attached homes, primarily on land that it develops and improves. Toll Brothers also operates its own architectural, engineering, mortgage, title, security, landscape, insurance brokerage, and manufacturing operations.

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Toll Brothers (TOL US)

Toll Brothers Is Scaling Active Adult Communities — But How Durable Is This Growth Engine?

Toll Brothers reported solid performance for the fiscal year 2025 despite a challenging sales environment due to broader market factors such as...

Baptista Research

Toll Brothers: Navigating Interest Rate Changes & Housing Demand While Executing Community Expansion!

Toll Brothers, a prominent player in the luxury home building market, shared optimistic third-quarter results for fiscal year 2025. The company...

Baptista Research

Toll Brothers: Will Its Spec Home Strategy & Market Adaptation Be A Breakthrough Move?

During its second quarter earnings for fiscal 2025, Toll Brothers, Inc. outlined its financial and operational performance amidst a challenging...

Baptista Research

Toll Brothers: Community Growth & Product Diversification Fueling Our 'Buy' Rating! - Major Drivers

Toll Brothers, a prominent luxury homebuilder, delivered a robust performance in the fourth quarter of fiscal 2024, demonstrating resilience and...

Baptista Research

A Defensive Portfolio Prepared For The Wealth Effect’s Reversal

The top 10% account for around 50% of consumer spending in the US. This insight looks at the sectors and companies that could win and lose from the...

Finimize Research

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