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

Verizon Communications / Equity Bottom-Up

<ul><li>Verizon Communications delivered a quarter that reflected improving operational momentum, stronger customer retention trends, and expanding profitability, although revenue growth remained pressured by promotional amortization headwinds and the lingering financial impact of a January network outage.</li><li>Total revenue increased 2.9% year-over-year to $34.4 billion, while adjusted EPS rose 7.6%, representing the company’s strongest adjusted earnings growth rate in more than four years.</li><li>Free cash flow increased 4% to approximately $3.8 billion despite restructuring charges, integration expenses related to Frontier Communications, and elevated gross add activity.</li></ul>

Verizon Communications delivered a quarter that reflected improving operational momentum, stronger customer retention trends, and expanding profitability, although revenue growth remained pressured by promotional amortization headwinds and the lingering financial impact of a January network outage.Total revenue increased 2.9% year-over-year to $34.4 billion, while adjusted EPS rose 7.6%, representing the company’s strongest adjusted earnings growth rate in more than four years.Free cash flow increased 4% to approximately $3.8 billion despite restructuring charges, integration expenses related to Frontier Communications, and elevated gross add activity.

Verizon Communications: 35% Cost Reduction And 341

Head of Research, IPOs & Placements, Aequitas Research

Sumeet Singh

Head of Research, IPOs & Placements

IPOs and Placements coverage across Asia Pacific

Aequitas Research

We cover all listing across the Asia Pacific along with follow-up placements. As of Dec 2020, our team had covered 539 IPOs with a hit rate of 73.5% and 685 placements with a hit rate of 66.8%.

We combine fundamental bottom-up views with our proprietary quantitative framework to provide a holistic coverage across new listings and placements. Our coverage includes pre-IPO notes before the deal is launched, follow-up analysis once the deal is live and post-listing trading analysis as well.

Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/space-exploration-technologies-corp-spacex" target="_blank" data-smartkarma-citation="entities:33284:1" rel="noopener">SpaceX (SPCX US)</a> an Elon Musk led Space to AI company, aims to raise around US$75bn in its US IPO.</li>
<li>SpaceX is set to be the largest IPO ever. It will also probably end up being one of the most controversial ones given the asking valuations and other worldly promises.</li>
<li>We looked at its past performance in our previous notes. In this note, we talk about the additional aspects on valautions.</li>
</ul>



SpaceX (SPCX US) an Elon Musk led Space to AI company, aims to raise around US$75bn in its US IPO.
SpaceX is set to be the largest IPO ever. It will also probably end up being one of the most controversial ones given the asking valuations and other worldly promises.
We looked at its past performance in our previous notes. In this note, we talk about the additional aspects on valautions.


Aequitas: SpaceX IPO - Valuations - Now for a Bite of Reality - Retail Euphoria, Index Buying...

<ul>
<li>
<a href="https://www.smartkarma.com/entities/space-exploration-technologies-corp-spacex" target="_blank" data-smartkarma-citation="entities:33284:1" rel="noopener">SpaceX (SPCX US)</a> an Elon Musk led Space to AI company, aims to raise around US$75bn in its US IPO.</li>
<li>SpaceX is set to be the largest IPO ever. It will also probably end up being one of the most controversial ones given the asking valuations and other worldly promises.</li>
<li>We looked at its past performance in our previous notes. In this note, we talk about the fundmental valuation views.</li>
</ul>



SpaceX (SPCX US) an Elon Musk led Space to AI company, aims to raise around US$75bn in its US IPO.
SpaceX is set to be the largest IPO ever. It will also probably end up being one of the most controversial ones given the asking valuations and other worldly promises.
We looked at its past performance in our previous notes. In this note, we talk about the fundmental valuation views.


Aequitas: SpaceX IPO - Fundmanetal Thoughts on Valuation

<ul><li>Sowmyanarayan Sampath is stepping down as CEO of Verizon’s Consumer Group, handing interim control to transformation chief Alfonso Villanueva.</li><li>It’s another major leadership shuffle just months after the company’s CEO transition and largest-ever layoffs.</li><li>Markets shrugged.</li></ul>

Sowmyanarayan Sampath is stepping down as CEO of Verizon’s Consumer Group, handing interim control to transformation chief Alfonso Villanueva.It’s another major leadership shuffle just months after the company’s CEO transition and largest-ever layoffs.Markets shrugged.

Is Verizon’s Growth Plan At Risk After CEO Sampath’s Departure?

<ul><li>Verizon Communications Inc. provided insights into its fourth quarter 2025 performance and laid out its plans for 2026.</li><li>The recent results reflect a combination of strategic advances and challenges that the company must navigate to maintain its position in the competitive telecommunications industry.</li><li>On the positive side, Verizon demonstrated a noteworthy increase in net additions across mobility and broadband, marking the highest volumes in six years.</li></ul>

Verizon Communications Inc. provided insights into its fourth quarter 2025 performance and laid out its plans for 2026.The recent results reflect a combination of strategic advances and challenges that the company must navigate to maintain its position in the competitive telecommunications industry.On the positive side, Verizon demonstrated a noteworthy increase in net additions across mobility and broadband, marking the highest volumes in six years.

Verizon: Why Network Quality, Cost Control, and Capital Returns Are Finally Aligning!

United States

Verizon Communications Inc. is an integrated telecommunications company that provides wire line voice and data services, wireless services, Internet services, and published directory information. The Company also provides network services for the federal government including business phone lines, data services, telecommunications equipment and payphones.

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Verizon Communications (VZ US)

Verizon Communications: 35% Cost Reduction And 341

Verizon Communications delivered a quarter that reflected improving operational momentum, stronger customer retention trends, and expanding...

Baptista Research

Aequitas: SpaceX IPO - Valuations - Now for a Bite of Reality - Retail Euphoria, Index Buying...

SpaceX (SPCX US) an Elon Musk led Space to AI company, aims to raise around US$75bn in its US IPO. In this note, we talk about the retail frenzy,...

Sumeet Singh

Aequitas: SpaceX IPO - Fundmanetal Thoughts on Valuation

SpaceX (SPCX US) an Elon Musk led Space to AI company, aims to raise around US$75bn in its US IPO. In this note, we take a fundamental look at...

Sumeet Singh

Is Verizon’s Growth Plan At Risk After CEO Sampath’s Departure?

Sowmyanarayan Sampath is stepping down as CEO of Verizon’s Consumer Group, handing interim control to transformation chief Alfonso...

Baptista Research

Verizon: Why Network Quality, Cost Control, and Capital Returns Are Finally Aligning!

Verizon Communications Inc. provided insights into its fourth quarter 2025 performance and laid out its plans for 2026. The recent results reflect...

Baptista Research

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