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>Zoetis reported first quarter 2026 financial results reflecting a complex operating environment characterized by varying performance across its key business segments and geographies.</li><li>On an organic operational basis, total company revenue was flat compared to the prior year, while adjusted net income increased by 1%.</li><li>The International segment demonstrated strong growth, with a 10% increase organically, whereas the U.S. segment faced an 8% decline.</li></ul>

Zoetis reported first quarter 2026 financial results reflecting a complex operating environment characterized by varying performance across its key business segments and geographies.On an organic operational basis, total company revenue was flat compared to the prior year, while adjusted net income increased by 1%.The International segment demonstrated strong growth, with a 10% increase organically, whereas the U.S. segment faced an 8% decline.

Zoetis’ 8% U.S. Decline: Can Livestock Growth Offset Pet-Care Pressure?

<ul><li>Zoetis Inc., a leading global animal health company, reported its financial results for the fourth quarter and full year of 2025.</li><li>The company experienced a 6% organic operational revenue growth for the full year, alongside a 7% increase in adjusted net income, aligning with previous expectations.</li><li>This growth was driven by contributions from both international markets, achieving an 8% growth, and the U.S. with a 4% growth.</li></ul>

Zoetis Inc., a leading global animal health company, reported its financial results for the fourth quarter and full year of 2025.The company experienced a 6% organic operational revenue growth for the full year, alongside a 7% increase in adjusted net income, aligning with previous expectations.This growth was driven by contributions from both international markets, achieving an 8% growth, and the U.S. with a 4% growth.

Zoetis: How Portfolio Diversification Is Strengthening Its Competitive Moat!

<ul><li>Zoetis recently reported its third quarter financial results for 2025, revealing a 4% growth in revenue and a 9% increase in adjusted net income on an organic operational basis.</li><li>The results were fueled by strong performances in both international and U.S. markets, with international revenue growing by 6% and U.S. revenue by 3% when excluding divestitures.</li><li>However, this growth was moderated compared to previous quarters due to various market dynamics and challenges.</li></ul>

Zoetis recently reported its third quarter financial results for 2025, revealing a 4% growth in revenue and a 9% increase in adjusted net income on an organic operational basis.The results were fueled by strong performances in both international and U.S. markets, with international revenue growing by 6% and U.S. revenue by 3% when excluding divestitures.However, this growth was moderated compared to previous quarters due to various market dynamics and challenges.

Zoetis Surges Forward as Librela Stabilizes—Signaling a Major Comeback in 2026!

<ul><li>In the second quarter of 2025, Zoetis reported robust financial results, underscoring the strength and resilience of its portfolio across multiple markets.</li><li>The company achieved an organic operational revenue growth of 8% and a 10% increase in adjusted net income, reflecting effective cost management and operational efficiency.</li><li>One of the key highlights was the International segment, which experienced a 9% organic operational revenue growth, indicating Zoetis's ability to leverage trends expanding regional markets.</li></ul>

In the second quarter of 2025, Zoetis reported robust financial results, underscoring the strength and resilience of its portfolio across multiple markets.The company achieved an organic operational revenue growth of 8% and a 10% increase in adjusted net income, reflecting effective cost management and operational efficiency.One of the key highlights was the International segment, which experienced a 9% organic operational revenue growth, indicating Zoetis's ability to leverage trends expanding regional markets.

Zoetis Is Looking To Capitalize On The Triple Combo Market—Can The Stock Move Past Its Flat Trajectory?

Global Healthcare Analyst

Tina Banerjee

Thematic (Sector/Industry)

<ul>
<li>We are recommending to go long on <a href="https://www.smartkarma.com/entities/gland-pharma-ltd" target="_blank" data-smartkarma-citation="entities:29723:1" rel="noopener">Gland Pharma Ltd (GLAND IN)</a> and short on <a href="https://www.smartkarma.com/entities/syngene-international-ltd" target="_blank" data-smartkarma-citation="entities:26923:1" rel="noopener">Syngene International Ltd (SYNG IN)</a>. </li>
<li>Gland Pharma, with its niche focus on generic injectables is expected to be outlier, while Syngene, with substantial exposure to early-stage biotech research will continue to have muted performance.</li>
<li>Over the last six months, Gland Pharma shares rallied 83%, while Syngene International shares declined 5%. We expect the performance gap between the two companies will widen further.</li>
</ul>


We are recommending to go long on Gland Pharma Ltd (GLAND IN) and short on Syngene International Ltd (SYNG IN). 
Gland Pharma, with its niche focus on generic injectables is expected to be outlier, while Syngene, with substantial exposure to early-stage biotech research will continue to have muted performance.
Over the last six months, Gland Pharma shares rallied 83%, while Syngene International shares declined 5%. We expect the performance gap between the two companies will widen further.


Indian Contract Manufacturers: A Pair Trade Idea Between Gland Pharma and Syngene International

United States

Zoetis Inc discovers, develops, manufactures and commercializes animal health medicines and vaccines, with a focus on both livestock and companion animals.  The Companies products are sold in North America, Europe, Africa, Asia, Australia and Latin America.

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Zoetis Inc (ZTS US)

Zoetis’ 8% U.S. Decline: Can Livestock Growth Offset Pet-Care Pressure?

Zoetis reported first quarter 2026 financial results reflecting a complex operating environment characterized by varying performance across its...

Baptista Research

Zoetis: How Portfolio Diversification Is Strengthening Its Competitive Moat!

Zoetis Inc., a leading global animal health company, reported its financial results for the fourth quarter and full year of 2025. The company...

Baptista Research

Zoetis Surges Forward as Librela Stabilizes—Signaling a Major Comeback in 2026!

Zoetis recently reported its third quarter financial results for 2025, revealing a 4% growth in revenue and a 9% increase in adjusted net income...

Baptista Research

Zoetis Is Looking To Capitalize On The Triple Combo Market—Can The Stock Move Past Its Flat Trajectory?

In the second quarter of 2025, Zoetis reported robust financial results, underscoring the strength and resilience of its portfolio across multiple...

Baptista Research

Indian Contract Manufacturers: A Pair Trade Idea Between Gland Pharma and Syngene International

Gland Pharma, with its niche focus on generic injectables is expected to be outlier, while Syngene, with substantial exposure to early-stage...

Tina Banerjee

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52-week Range

Market Cap (USDm)

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