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>Walmart Inc. is aggressively shifting gears to reframe its brand image and customer appeal by expanding into more stylish and premium-priced home goods.</li><li>With offerings like $1,699 De’Longhi espresso machines and trendy home décor, the retail giant is targeting a demographic historically dominated by rivals like Amazon and Target—higher-income shoppers.</li><li>This strategic repositioning is not just about aesthetics; it aims to enhance profit margins beyond Walmart’s low-margin grocery stronghold and reclaim share in the home and furniture segment.</li></ul>

Walmart Inc. is aggressively shifting gears to reframe its brand image and customer appeal by expanding into more stylish and premium-priced home goods.With offerings like $1,699 De’Longhi espresso machines and trendy home décor, the retail giant is targeting a demographic historically dominated by rivals like Amazon and Target—higher-income shoppers.This strategic repositioning is not just about aesthetics; it aims to enhance profit margins beyond Walmart’s low-margin grocery stronghold and reclaim share in the home and furniture segment.

Walmart’s $1,699 Espresso Machine Is Just the Beginning of Its Amazon War!

<ul><li>Walmart Inc.'s latest earnings call revealed a performance that mirrors both the robust growth and the challenges the company faces as it continues to evolve.</li><li>Walmart's consolidated revenue in constant currency increased by 6%, marking a significant growth driven largely by e-commerce, which saw a 27% surge in sales.</li><li>This climb reinforces Walmart's omnichannel model, highlighting the synergy between its physical stores and digital platforms.</li></ul>

Walmart Inc.'s latest earnings call revealed a performance that mirrors both the robust growth and the challenges the company faces as it continues to evolve.Walmart's consolidated revenue in constant currency increased by 6%, marking a significant growth driven largely by e-commerce, which saw a 27% surge in sales.This climb reinforces Walmart's omnichannel model, highlighting the synergy between its physical stores and digital platforms.

Walmart Is Going All-In on Health & Wellness—Is This the Next Breakout Growth Engine?

<ul><li>In a milestone that reflects how far it’s come, Walmart has officially switched its stock listing from the New York Stock Exchange to the Nasdaq.</li><li>While this may seem like a routine change, it symbolizes SOMETHING MUCH BIGGER: Walmart's full-circle transformation from a traditional brick-and-mortar giant to a tech-enabled retail powerhouse.</li><li>This shift comes after years of strategic investments in e-commerce, supply chain automation, artificial intelligence, digital advertising, and subscription services like Walmart+.</li></ul>

In a milestone that reflects how far it’s come, Walmart has officially switched its stock listing from the New York Stock Exchange to the Nasdaq.While this may seem like a routine change, it symbolizes SOMETHING MUCH BIGGER: Walmart's full-circle transformation from a traditional brick-and-mortar giant to a tech-enabled retail powerhouse.This shift comes after years of strategic investments in e-commerce, supply chain automation, artificial intelligence, digital advertising, and subscription services like Walmart+.

Walmart’s Big Switch to NASDAQ: A New Era Begins!

<ul><li>Walmart Inc.'s recent quarterly results show a complex blend of strengths and challenges, presenting a nuanced investment thesis.</li><li>The retail giant achieved a 5.6% increase in sales on a constant currency basis, driven by strong performance in e-commerce, which grew by 25% globally.</li><li>This increase exceeded expectations, particularly in Walmart U.S. and Sam's Club U.S., where e-commerce growth reached 26%.</li></ul>

Walmart Inc.'s recent quarterly results show a complex blend of strengths and challenges, presenting a nuanced investment thesis.The retail giant achieved a 5.6% increase in sales on a constant currency basis, driven by strong performance in e-commerce, which grew by 25% globally.This increase exceeded expectations, particularly in Walmart U.S. and Sam's Club U.S., where e-commerce growth reached 26%.

Walmart’s Doug McMillon Is Out—And the AI Era Is Just Beginning!

Quality-first, Business-perspective, Long-term, Urbem (HK) Limited

Urbem Capital

Quality-first, Business-perspective, Long-term

Quality-first, Business-perspective Strategy

Urbem (HK) Limited

<ul>
<li>Eighteen S&amp;P 500 giants earned 20%-plus ROE through the 1990s; fourteen then trailed the index into 2026, the median by about 2.7 points a year.</li>
<li>Rich starting multiples, maturing runways, eroding moats and costly deals did the damage, while leverage and buybacks had flattered some of the returns on capital.</li>
<li>Microsoft renewed its runway and Altria started cheap; today's high-return screens should ask whether returns are still rising and whether the price still allows low-teens returns.</li>
</ul>


Eighteen S&amp;P 500 giants earned 20%-plus ROE through the 1990s; fourteen then trailed the index into 2026, the median by about 2.7 points a year.
Rich starting multiples, maturing runways, eroding moats and costly deals did the damage, while leverage and buybacks had flattered some of the returns on capital.
Microsoft renewed its runway and Altria started cheap; today's high-return screens should ask whether returns are still rising and whether the price still allows low-teens returns.


After They Were Giants: Why 2000's High-Return Stocks Mostly Lagged for 25 Years

United States

Walmart Inc. operates discount stores, supercenters, and neighborhood markets. The Company offers merchandise such as apparel, house wares, small appliances, electronics, musical instruments, books, home improvement, shoes, jewelry, toddler, games, household essentials, pets, pharmaceutical products, party supplies, and automotive tools. Walmart serves customers worldwide.

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Walmart (WMT US)

Walmart’s $1,699 Espresso Machine Is Just the Beginning of Its Amazon War!

Walmart Inc. is aggressively shifting gears to reframe its brand image and customer appeal by expanding into more stylish and premium-priced home...

Baptista Research

Walmart Is Going All-In on Health & Wellness—Is This the Next Breakout Growth Engine?

Walmart Inc.'s latest earnings call revealed a performance that mirrors both the robust growth and the challenges the company faces as it...

Baptista Research

Walmart’s Big Switch to NASDAQ: A New Era Begins!

In a milestone that reflects how far it’s come, Walmart has officially switched its stock listing from the New York Stock Exchange to the...

Baptista Research

Walmart’s Doug McMillon Is Out—And the AI Era Is Just Beginning!

Walmart Inc.'s recent quarterly results show a complex blend of strengths and challenges, presenting a nuanced investment thesis. The retail giant...

Baptista Research

After They Were Giants: Why 2000's High-Return Stocks Mostly Lagged for 25 Years

In 2000, America's highest-return giants looked like the safest quality stocks. Most then lagged the market for 25 years. Several warning signs...

Urbem Capital

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