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>Willis Towers Watson (WTW) reported its second quarter 2026 financial results marked by moderate organic revenue growth, expansion in operating margins, and a notable increase in adjusted diluted earnings per share compared to the prior year.</li>
<li>The company achieved 5% organic growth enterprise-wide, with particularly strong performance in the Risk &amp; Broking (R&amp;B) segment, which grew organically by 7%.</li>
<li>This segment benefited from broad-based strength across geographies and specialty lines, especially in North America’s construction, natural resources, surety, and M&amp;A sectors, despite a competitive pricing environment and generally declining insurance rates.</li>
</ul>


Willis Towers Watson (WTW) reported its second quarter 2026 financial results marked by moderate organic revenue growth, expansion in operating margins, and a notable increase in adjusted diluted earnings per share compared to the prior year.
The company achieved 5% organic growth enterprise-wide, with particularly strong performance in the Risk &amp; Broking (R&amp;B) segment, which grew organically by 7%.
This segment benefited from broad-based strength across geographies and specialty lines, especially in North America’s construction, natural resources, surety, and M&amp;A sectors, despite a competitive pricing environment and generally declining insurance rates.


Willis Towers Watson’s $400 Million AI Savings Plan — Can Margins Reach 30%?

<ul>
<li>Willis Towers Watson Public Limited Company reported first-quarter 2026 results characterized by modest organic revenue growth of 3%, adjusted operating margin expansion of 70 basis points to 22.3%, and adjusted diluted earnings per share increasing 19% year-over-year to $3.72.</li>
<li>Revenue came in at the low end of the company’s guidance range, reflecting a challenging and volatile global market environment, notably elevated geopolitical risks in the Middle East that caused some regional clients to delay advisory projects.</li>
<li>Despite these headwinds, operational efficiencies and investments in technology contributed to margin expansion and earnings growth.</li>
</ul>


Willis Towers Watson Public Limited Company reported first-quarter 2026 results characterized by modest organic revenue growth of 3%, adjusted operating margin expansion of 70 basis points to 22.3%, and adjusted diluted earnings per share increasing 19% year-over-year to $3.72.
Revenue came in at the low end of the company’s guidance range, reflecting a challenging and volatile global market environment, notably elevated geopolitical risks in the Middle East that caused some regional clients to delay advisory projects.
Despite these headwinds, operational efficiencies and investments in technology contributed to margin expansion and earnings growth.


Willis Towers Watson Faces Pricing Pressure As Risk & Broking Growth Slows; What Lies Ahead?

<ul>
<li>Willis Towers Watson (WTW) reported its fourth quarter and full year 2025 results showing continued organic revenue growth combined with margin expansion, supported by strategic investments and portfolio optimization.</li>
<li>The company delivered 6% organic growth in Q4 and 5% for the full year, aligned with its mid-single-digit growth target.</li>
<li>Adjusted operating margin expanded by 80 basis points in Q4 and 130 basis points for the full year, reaching 25.2%, driven largely by efficiencies enabled through its WE DO enterprise delivery organization, digital platforms, and advanced analytics.</li>
</ul>


Willis Towers Watson (WTW) reported its fourth quarter and full year 2025 results showing continued organic revenue growth combined with margin expansion, supported by strategic investments and portfolio optimization.
The company delivered 6% organic growth in Q4 and 5% for the full year, aligned with its mid-single-digit growth target.
Adjusted operating margin expanded by 80 basis points in Q4 and 130 basis points for the full year, reaching 25.2%, driven largely by efficiencies enabled through its WE DO enterprise delivery organization, digital platforms, and advanced analytics.


Willis Towers Watson: The Real Pressure Point Is Soft Rates Not The 6% Organic Growth!

<ul>
<li>Willis Towers Watson Public Limited Company reported solid financial results for the fourth quarter and the full year, demonstrating both positive and concerning aspects that potential investors might consider.</li>
<li>The company recorded 6% organic growth in Q4, alongside an 80 basis point expansion in adjusted operating margin, translating to an adjusted EPS of $8.12.</li>
<li>For the full year, Willis Towers Watson achieved 5% organic growth and expanded its adjusted operating margin by 130 basis points to 25.2% with an adjusted diluted EPS of $17.08.</li>
</ul>


Willis Towers Watson Public Limited Company reported solid financial results for the fourth quarter and the full year, demonstrating both positive and concerning aspects that potential investors might consider.
The company recorded 6% organic growth in Q4, alongside an 80 basis point expansion in adjusted operating margin, translating to an adjusted EPS of $8.12.
For the full year, Willis Towers Watson achieved 5% organic growth and expanded its adjusted operating margin by 130 basis points to 25.2% with an adjusted diluted EPS of $17.08.


Willis Towers Watson’s Core Segments Are Scaling—And the Momentum Looks Durable!

<ul>
<li>Willis Towers Watson Public Limited Company (WTW) reported its third-quarter 2025 earnings, showcasing a combination of steady growth and specific challenges.</li>
<li>The firm recorded an organic revenue growth of 5%, a noteworthy adjusted operating margin expansion of 230 basis points, and an adjusted EPS increase of 11% to $3.07 compared to the previous year.</li>
<li>These results indicated solid strategic execution, despite a volatile global economic landscape marked by uncertainties in trade, inflation, and geopolitical tensions.</li>
</ul>


Willis Towers Watson Public Limited Company (WTW) reported its third-quarter 2025 earnings, showcasing a combination of steady growth and specific challenges.
The firm recorded an organic revenue growth of 5%, a noteworthy adjusted operating margin expansion of 230 basis points, and an adjusted EPS increase of 11% to $3.07 compared to the previous year.
These results indicated solid strategic execution, despite a volatile global economic landscape marked by uncertainties in trade, inflation, and geopolitical tensions.


WTW US: Is the 100 Bps R&B Margin Jump the Start of a Powerful Multi-Year Expansion Cycle?

United States

Willis Towers Watson Public Limited Company operates as an advisory, broking, and solutions company. The Company provides a range of insurance brokerage, reinsurance, and risk management consulting services. Willis Towers Watson serves customers worldwide.

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Willis Towers Watson (WTW US)

Willis Towers Watson’s $400 Million AI Savings Plan — Can Margins Reach 30%?

Willis Towers Watson (WTW) reported its second quarter 2026 financial results marked by moderate organic revenue growth, expansion in operating...

Baptista Research

Willis Towers Watson Faces Pricing Pressure As Risk & Broking Growth Slows; What Lies Ahead?

Willis Towers Watson Public Limited Company reported first-quarter 2026 results characterized by modest organic revenue growth of 3%...

Baptista Research

Willis Towers Watson: The Real Pressure Point Is Soft Rates Not The 6% Organic Growth!

Willis Towers Watson (WTW) reported its fourth quarter and full year 2025 results showing continued organic revenue growth combined with margin...

Baptista Research

Willis Towers Watson’s Core Segments Are Scaling—And the Momentum Looks Durable!

The company recorded 6% organic growth in Q4, alongside an 80 basis point expansion in adjusted operating margin, translating to an adjusted EPS of...

Baptista Research

WTW US: Is the 100 Bps R&B Margin Jump the Start of a Powerful Multi-Year Expansion Cycle?

Willis Towers Watson Public Limited Company (WTW) reported its third-quarter 2025 earnings, showcasing a combination of steady growth and specific...

Baptista Research

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