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>The WD-40 Company reported third quarter fiscal year 2026 results with consolidated net sales rising 24% year-over-year to $195.1 million.</li><li>Maintenance products, making up 97% of total net sales, increased 26%, or 22% on a constant currency basis, surpassing long-term growth expectations and achieving a company record.</li><li>Sales growth was broad-based across geographies, with the Americas up 29%, EMEA rising 17% (10% constant currency), and Asia Pacific increasing 24% (18% constant currency).</li></ul>

The WD-40 Company reported third quarter fiscal year 2026 results with consolidated net sales rising 24% year-over-year to $195.1 million.Maintenance products, making up 97% of total net sales, increased 26%, or 22% on a constant currency basis, surpassing long-term growth expectations and achieving a company record.Sales growth was broad-based across geographies, with the Americas up 29%, EMEA rising 17% (10% constant currency), and Asia Pacific increasing 24% (18% constant currency).

WD-40 Sales Surge 24% — Is Premiumization Driving a Lasting Breakthrough?

<ul><li>The WD-40 Company reported second quarter fiscal year 2026 consolidated net sales of $161.7 million, an 11% increase year-over-year.</li><li>Maintenance products, representing approximately 97% of total sales, saw net sales rise by 13% (6% on a constant currency basis), driven primarily by growth in the Americas and Asia Pacific regions.</li><li>In the Americas, sales increased 10%, supported by a 15% rise in the U.S. market due to higher volumes, promotional activity, and modest price increases.</li></ul>

The WD-40 Company reported second quarter fiscal year 2026 consolidated net sales of $161.7 million, an 11% increase year-over-year.Maintenance products, representing approximately 97% of total sales, saw net sales rise by 13% (6% on a constant currency basis), driven primarily by growth in the Americas and Asia Pacific regions.In the Americas, sales increased 10%, supported by a 15% rise in the U.S. market due to higher volumes, promotional activity, and modest price increases.

WD-40's Hidden Growth Story: Digital Commerce & Maintenance Products Gain Momentum!

<ul><li>WD-40 Company reported its first fiscal quarter of 2026 results with consolidated net sales of $154.4 million, representing a year-over-year increase of 1%.</li><li>The company remains primarily focused on its maintenance products, which contributed to 96% of total net sales, seeing a modest 2% rise from the previous year.</li><li>This performance, although slightly below long-term growth targets, reflects the company's resilience in maintaining its market position while navigating various market conditions.</li></ul>

WD-40 Company reported its first fiscal quarter of 2026 results with consolidated net sales of $154.4 million, representing a year-over-year increase of 1%.The company remains primarily focused on its maintenance products, which contributed to 96% of total net sales, seeing a modest 2% rise from the previous year.This performance, although slightly below long-term growth targets, reflects the company's resilience in maintaining its market position while navigating various market conditions.

WD-40 Company: Inside the Global Expansion Plan Targeting India, Mexico, & China!

<ul><li>The WD-40 Company recently hosted its earnings conference call for the fourth quarter and full fiscal year 2025, reflecting modest growth despite facing various global challenges.</li><li>The company reported consolidated net sales of $163 million for the fourth quarter and $620 million for the entire year, each indicating approximately 5% growth compared to the previous year.</li><li>This performance underscores the continued strength and resilience of WD-40 Company's brand amid complex global conditions, including geopolitical tensions and shifting economic policies.</li></ul>

The WD-40 Company recently hosted its earnings conference call for the fourth quarter and full fiscal year 2025, reflecting modest growth despite facing various global challenges.The company reported consolidated net sales of $163 million for the fourth quarter and $620 million for the entire year, each indicating approximately 5% growth compared to the previous year.This performance underscores the continued strength and resilience of WD-40 Company's brand amid complex global conditions, including geopolitical tensions and shifting economic policies.

WD-40 Company’s Asia Pacific Push Could Be a Game-Changer—But What’s the Real Execution Plan?

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

<p>S&amp;P 500 Potential Support Levels. Current logical support levels we are monitoring include the December 2018 low of 2,346 and prior resistance in 2015-2016 at 2,130-2,200. The 2,346 level would make a lot of sense, however there is nothing that says we can’t be down 35% (coinciding with the 2,130-2,200 level) or more from the highs. Ultimately, COVID-19 is holding the market hostage and it likely will stay that way until the virus spread diminishes.</p>

S&amp;P 500 Potential Support Levels. Current logical support levels we are monitoring include the December 2018 low of 2,346 and prior resistance in 2015-2016 at 2,130-2,200. The 2,346 level would make a lot of sense, however there is nothing that says we can’t be down 35% (coinciding with the 2,130-2,200 level) or more from the highs. Ultimately, COVID-19 is holding the market hostage and it likely will stay that way until the virus spread diminishes.

S&P 500 Technical Appraisal and Support Levels

United States

WD-40 Company manufactures and markets multi-purpose lubricant products and heavy-duty hand cleaners.  The Company's WD-40 acts as a lubricant, rust preventative, penetrant, cleaner, and moisture displacer.  WD-40's 3-IN-ONE Oil is a drip oil lubricant that allows precise application. The Company also manufactures Lava heavy-duty hand cleaner and other household cleaning products.

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WD-40 Company (WDFC US)

WD-40 Sales Surge 24% — Is Premiumization Driving a Lasting Breakthrough?

The WD-40 Company reported third quarter fiscal year 2026 results with consolidated net sales rising 24% year-over-year to $195.1...

Baptista Research

WD-40's Hidden Growth Story: Digital Commerce & Maintenance Products Gain Momentum!

The WD-40 Company reported second quarter fiscal year 2026 consolidated net sales of $161.7 million, an 11% increase year-over-year. Maintenance...

Baptista Research

WD-40 Company: Inside the Global Expansion Plan Targeting India, Mexico, & China!

WD-40 Company reported its first fiscal quarter of 2026 results with consolidated net sales of $154.4 million, representing a year-over-year...

Baptista Research

WD-40 Company’s Asia Pacific Push Could Be a Game-Changer—But What’s the Real Execution Plan?

The WD-40 Company recently hosted its earnings conference call for the fourth quarter and full fiscal year 2025, reflecting modest growth despite...

Baptista Research

S&P 500 Technical Appraisal and Support Levels

S&P 500 Potential Support Levels. Current logical support levels we are monitoring include the December 2018 low of 2,346 and prior resistance...

Vermilion Research

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