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

Watts Water Technologies A / Equity Bottom-Up

<ul><li>Watts Water Technologies, Inc. reported a strong start to fiscal year 2026 with record first-quarter sales, operating income, operating margin, and earnings per share.</li><li>The company achieved 12% organic sales growth, driven by favorable pricing and volume increases, as well as contributions from recent acquisitions.</li><li>Adjusted operating margin improved by 110 basis points to 20.1%, reflecting benefits from price increases, volume leverage, and productivity gains that outweighed inflationary pressures, tariffs, and acquisition-related dilution totaling 80 basis points.</li></ul>

Watts Water Technologies, Inc. reported a strong start to fiscal year 2026 with record first-quarter sales, operating income, operating margin, and earnings per share.The company achieved 12% organic sales growth, driven by favorable pricing and volume increases, as well as contributions from recent acquisitions.Adjusted operating margin improved by 110 basis points to 20.1%, reflecting benefits from price increases, volume leverage, and productivity gains that outweighed inflationary pressures, tariffs, and acquisition-related dilution totaling 80 basis points.

Watts Water Technologies’ Big Break: Data Center Cooling Sales More Than Double!

<ul><li>Watts Water Technologies, Inc. reported a commendable financial performance in the fourth quarter and full year of 2025.</li><li>The company achieved record sales, operating margins, and earnings per share, driven by an 8% growth in organic sales for the quarter and a 5% rise for the full year.</li><li>The adjusted operating margin also improved significantly, reaching 19% in Q4 and 19.6% for the year.</li></ul>

Watts Water Technologies, Inc. reported a commendable financial performance in the fourth quarter and full year of 2025.The company achieved record sales, operating margins, and earnings per share, driven by an 8% growth in organic sales for the quarter and a 5% rise for the full year.The adjusted operating margin also improved significantly, reaching 19% in Q4 and 19.6% for the year.

Why Watts Water Technologies’ Data Center Push & Acquisition Strategy Are Reshaping Its Long-Term Growth Profile!

<ul><li>Watts Water Technologies reported strong results for the third quarter of 2025, surpassing expectations with reported sales reaching a record $612 million.</li><li>This performance was supported by a notable 9% increase in organic sales, driven largely by favorable pricing, robust demand in the Americas, and strategic acquisitions like I-CON and EasyWater.</li><li>These acquisitions, along with advantageous foreign exchange movements, compensated for a decline in Europe and stagnant performance in the Asia-Pacific, Middle East, and Africa (APMEA) regions.</li></ul>

Watts Water Technologies reported strong results for the third quarter of 2025, surpassing expectations with reported sales reaching a record $612 million.This performance was supported by a notable 9% increase in organic sales, driven largely by favorable pricing, robust demand in the Americas, and strategic acquisitions like I-CON and EasyWater.These acquisitions, along with advantageous foreign exchange movements, compensated for a decline in Europe and stagnant performance in the Asia-Pacific, Middle East, and Africa (APMEA) regions.

Watts Water Technologies: Inside the Haws Deal- What Will This Power Acquisition Unlock?

<ul><li>Watts Water Technologies reported strong second-quarter results, reflecting robust execution amidst challenges, with record highs in sales, operating income, and earnings per share.</li><li>The company saw an organic sales increase of 6%, driven by favorable pricing and demand, despite ongoing European market weaknesses.</li><li>This outcome was further supported by contributions from recent acquisitions and positive foreign exchange rates.</li></ul>

Watts Water Technologies reported strong second-quarter results, reflecting robust execution amidst challenges, with record highs in sales, operating income, and earnings per share.The company saw an organic sales increase of 6%, driven by favorable pricing and demand, despite ongoing European market weaknesses.This outcome was further supported by contributions from recent acquisitions and positive foreign exchange rates.

Watts Water Technologies: Nexa Intelligent Water Management Expansion to Position Itself As A Leader In Smart Water Management Solutions!

Technical Analyst, Vermilion Research

Joe Jasper

Technical Analyst

Technical and Quantitative Research

Vermilion Research

Vermilion’s objective is to deliver timely, actionable, and unique technical research to professional investors through the application of our various technical indicators.

Our research strategists seek to highlight securities which we believe are at major inflection points, based on our various technical and quantitative indicators, and offer asymmetric risk/return profiles. Our unique research methodology, centered on relative strength, enables our strategists to deliver superior investment recommendations.

Our process begins by organizing the universe of actively traded stocks into discrete sectors, then into industry groups. We then apply our technical and quantitative tools to identify developing price trends. Once attractive trends are identified within a selected sector or group, we screen for individual stocks which we believe offer the best risk/reward profile. We provide a historical perspective that often reveals, through our long-term charts, how price patterns often repeat themselves over time.

Technical Analysis

Dow Jones Industrial Average / Technical Analysis

Dow Jones Industrial Average (INDU INDEX)

<ul>
<li>The S&amp;P 500 has marginally surpassed the 4300-4325 area which we have anticipated would cap upside for 2023. </li>
<li>As noted in our 6/6/23 Compass, we are vigilant at these levels given we expect inflation to remain elevated, but we <em><strong>cannot be bearish</strong></em>if the SPX is above 4165-4200</li>
<li>Breadth has continued to improve within the Russell 2000, and the $IWM is approaching our first target of $190 following the breakout above $180. Also see breadth improving within SPX.</li>
</ul>


The S&amp;P 500 has marginally surpassed the 4300-4325 area which we have anticipated would cap upside for 2023. 
As noted in our 6/6/23 Compass, we are vigilant at these levels given we expect inflation to remain elevated, but we cannot be bearishif the SPX is above 4165-4200
Breadth has continued to improve within the Russell 2000, and the $IWM is approaching our first target of $190 following the breakout above $180. Also see breadth improving within SPX.


Dow Testing 1-Year Resistance at 34,280 Ahead of FOMC; Buy Ideas Within Manufacturing/Industrials

United States

Watts Water Technologies, Inc. designs, manufactures, and sells a line of products to the water regulation and control markets.  The Company has manufacturing plants and distribution channels in the United States, Canada, and Europe, as well as a joint venture in The People's Republic of China.

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Watts Water Technologies A (WTS US)

Watts Water Technologies’ Big Break: Data Center Cooling Sales More Than Double!

Watts Water Technologies, Inc. reported a strong start to fiscal year 2026 with record first-quarter sales, operating income, operating margin,...

Baptista Research

Why Watts Water Technologies’ Data Center Push & Acquisition Strategy Are Reshaping Its Long-Term Growth Profile!

Watts Water Technologies, Inc. reported a commendable financial performance in the fourth quarter and full year of 2025. The company achieved...

Baptista Research

Watts Water Technologies: Inside the Haws Deal- What Will This Power Acquisition Unlock?

Watts Water Technologies reported strong results for the third quarter of 2025, surpassing expectations with reported sales reaching a record $612...

Baptista Research

Watts Water Technologies: Nexa Intelligent Water Management Expansion to Position Itself As A Leader In Smart Water Management Solutions!

Watts Water Technologies reported strong second-quarter results, reflecting robust execution amidst challenges, with record highs in sales,...

Baptista Research

Dow Testing 1-Year Resistance at 34,280 Ahead of FOMC; Buy Ideas Within Manufacturing/Industrials

Dow $DJI Testing 1-Year Resistance at 34,280 ahead of FOMC. Breadth continues to improve within the Russell 2000 $IWM, and breadth improving within...

Vermilion Research

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