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

United Parcel Service Cl B / Equity Bottom-Up

<ul><li>United Parcel Service, Inc. delivered its first-quarter 2026 financial results amid a challenging external environment characterized by volatile global markets and rising fuel costs.</li><li>The company’s consolidated revenue reached $21.2 billion, with an operating profit of $1.3 billion and an operating margin of 6.2%.</li><li>Revenue growth was supported by improvements in revenue quality and product mix, notably in the U.S. and International segments, with supply chain solutions showing significant operating profit gains.</li></ul>

United Parcel Service, Inc. delivered its first-quarter 2026 financial results amid a challenging external environment characterized by volatile global markets and rising fuel costs.The company’s consolidated revenue reached $21.2 billion, with an operating profit of $1.3 billion and an operating margin of 6.2%.Revenue growth was supported by improvements in revenue quality and product mix, notably in the U.S. and International segments, with supply chain solutions showing significant operating profit gains.

United Parcel Service (UPS): Amazon Volume Cut From 13% To 9% Is The Real Portfolio Signal!

Independent Investment Research, The IDEA!

The IDEA!

Independent Investment Research

The Idea-Driven Equities Analyses company (the IDEA!) is an employee-owned boutique providing independent investment research and financial consultancy services with a clear focus on the Benelux countries. The company was founded in the summer of 2007 by Henk Slotboom and Maarten Verbeek, both with more than 35 years of professional experience in the financial sector. The IDEA! differentiates itself by focusing on adding value through self-initiated in-depth, idea-driven investment research, as well as by bespoke research assignments for institutional investors, hedge funds and private equity. In addition, we provide market intelligence, strategic research and – together with our business partners – consultancy services to businesses. In case you are interested in receiving more information, a sample of our products or an introductory meeting, please send a message to info@theidea.nl.

<ul><li>We issued a company report (10 pages) featuring InPost.</li><li> Summary & Conclusions A consortium comprising FedEx (37%), Advent (37%), A&R Investment (16%), and PPF (10%) has launched an all-cash offer of EUR 15.60 per share for 100% of InPost, valuing its shares at ~EUR 7.8 bn.</li><li>This represents a 50% premium to the undisturbed share price on 2 January 2026 and 53% above the three-month VWAP.</li></ul>

We issued a company report (10 pages) featuring InPost. Summary & Conclusions A consortium comprising FedEx (37%), Advent (37%), A&R Investment (16%), and PPF (10%) has launched an all-cash offer of EUR 15.60 per share for 100% of InPost, valuing its shares at ~EUR 7.8 bn.This represents a 50% premium to the undisturbed share price on 2 January 2026 and 53% above the three-month VWAP.

United Parcel Service Cl B - Company Report: InPost | This (Fed)Exit Deserves A Better Price

<ul><li>United Parcel Service (UPS) reported its fourth-quarter and full-year 2025 earnings, providing a comprehensive view into its financial performance and future strategies.</li><li>The company has been navigating a challenging macroeconomic environment marked by dynamic global trade policies and geopolitical issues, yet it exceeded expectations due to strong revenue quality, effective cost management, and operational excellence.</li><li>The three main business segments contributed to the performance, with U.S. Domestic and Supply Chain Solutions showing year-over-year operating margin expansion, and the International Small Package segment reporting record revenue.</li></ul>

United Parcel Service (UPS) reported its fourth-quarter and full-year 2025 earnings, providing a comprehensive view into its financial performance and future strategies.The company has been navigating a challenging macroeconomic environment marked by dynamic global trade policies and geopolitical issues, yet it exceeded expectations due to strong revenue quality, effective cost management, and operational excellence.The three main business segments contributed to the performance, with U.S. Domestic and Supply Chain Solutions showing year-over-year operating margin expansion, and the International Small Package segment reporting record revenue.

United Parcel Service: Redesigning Its Network for a Leaner

<ul><li>United Parcel Service (UPS) delivered its third quarter 2025 financial performance amidst significant strategic shifts and operational challenges.</li><li>The company reported consolidated revenue of $21.4 billion, with an adjusted operating profit of $2.1 billion, reflecting an operating margin of 10%.</li><li>A focus on revenue quality and cost management was evident as UPS navigated complex changes in both U.S. and international markets.</li></ul>

United Parcel Service (UPS) delivered its third quarter 2025 financial performance amidst significant strategic shifts and operational challenges.The company reported consolidated revenue of $21.4 billion, with an adjusted operating profit of $2.1 billion, reflecting an operating margin of 10%.A focus on revenue quality and cost management was evident as UPS navigated complex changes in both U.S. and international markets.

United Parcel Service (UPS) Axes 48,000 Jobs & Ditches Amazon; What's Next?

Asian Equities Analyst, Logistics & Transport, Tracking Traffic

Daniel Hellberg

Asian Equities Analyst, Logistics & Transport

Tracking Traffic

Focusing on Asian logistics, transportation, and travel companies

<ul>
<li>In H1 and Q2 this year, JD Logistics' top-line growth remained strong, growing by 20%+</li>
<li>But margins have continued to erode in recent periods, probably due to changes in mix</li>
<li>Down close to HK$10 per share, we believe lots of negativity is "baked in" to price</li>
</ul>


In H1 and Q2 this year, JD Logistics' top-line growth remained strong, growing by 20%+
But margins have continued to erode in recent periods, probably due to changes in mix
Down close to HK$10 per share, we believe lots of negativity is "baked in" to price


JD Logistics H1/Q2 Results | Momentum, Profitability Show Mixed Signals | Shares Drained Of Optimism

United States

United Parcel Service, Inc.(UPS) delivers packages and documents throughout the United States and in other countries and territories.  The Company also provides global supply chain services and less-than-truckload transportation, primarily in the U.S. UPS's business consists of integrated air and ground pick-up and delivery network

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United Parcel Service Cl B (UPS US)

United Parcel Service (UPS): Amazon Volume Cut From 13% To 9% Is The Real Portfolio Signal!

United Parcel Service, Inc. delivered its first-quarter 2026 financial results amid a challenging external environment characterized by volatile...

Baptista Research

United Parcel Service Cl B - Company Report: InPost | This (Fed)Exit Deserves A Better Price

We issued a company report (10 pages) featuring InPost. Summary & Conclusions A consortium comprising FedEx (37%), Advent (37%), A&R...

The IDEA!

United Parcel Service: Redesigning Its Network for a Leaner

United Parcel Service (UPS) reported its fourth-quarter and full-year 2025 earnings, providing a comprehensive view into its financial performance...

Baptista Research

United Parcel Service (UPS) Axes 48,000 Jobs & Ditches Amazon; What's Next?

United Parcel Service (UPS) delivered its third quarter 2025 financial performance amidst significant strategic shifts and operational...

Baptista Research

JD Logistics H1/Q2 Results | Momentum, Profitability Show Mixed Signals | Shares Drained Of Optimism

Shares have "round tripped" since March 2026 and at HK$10 there appears to be lots of negativity baked into the price. At just 8x consensus 2026F...

Tracking Traffic

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