Independent research on the U.S. markets, Baptista Research

Baptista Research

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.

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>Santos litigation, appeal process and related cash outflows The Santos legal ruling remains a material challenge for Fluor Corporation, with a $653 million charge recorded as a reduction to revenue and an expected payment of roughly $600 million to enable the appeal process in Australia.</li><li>Management is working with insurers on contributions toward the appeal payment and legal costs, but final amounts and timing are not yet confirmed, and the initial charge received no tax benefit.</li><li>The combination of appeal uncertainty, funding needs, insurance negotiations and potential future tax treatment introduces ongoing volatility for reported earnings, operating cash flow optics and the pace at which excess capital can be returned to shareholders or deployed for growth.</li></ul>

Santos litigation, appeal process and related cash outflows The Santos legal ruling remains a material challenge for Fluor Corporation, with a $653 million charge recorded as a reduction to revenue and an expected payment of roughly $600 million to enable the appeal process in Australia.Management is working with insurers on contributions toward the appeal payment and legal costs, but final amounts and timing are not yet confirmed, and the initial charge received no tax benefit.The combination of appeal uncertainty, funding needs, insurance negotiations and potential future tax treatment introduces ongoing volatility for reported earnings, operating cash flow optics and the pace at which excess capital can be returned to shareholders or deployed for growth.

Fluor Corporation: Is Its Explosive $1.3 Billion Buyback Plan a Game-Changer for the Stock?