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

Installed Building Products / Equity Bottom-Up

<ul><li>Installed Building Products reported consolidated net revenue growth of 2% to $778 million in the second quarter of 2026 compared to the prior year, supported by contributions from recent acquisitions and growth within commercial installation, manufacturing, and distribution segments.</li><li>Same-branch sales declined slightly by less than 1%, with new residential installation sales decreasing due to ongoing affordability pressures and subdued consumer confidence, while commercial installation sales grew by 10%, and heavy commercial sales increased over 15%.</li><li>Multifamily end market backlog expanded, indicating stability in that segment despite overall softening in single-family housing starts, which decreased 4% year-over-year, while multifamily starts increased 10%.</li></ul>

Installed Building Products reported consolidated net revenue growth of 2% to $778 million in the second quarter of 2026 compared to the prior year, supported by contributions from recent acquisitions and growth within commercial installation, manufacturing, and distribution segments.Same-branch sales declined slightly by less than 1%, with new residential installation sales decreasing due to ongoing affordability pressures and subdued consumer confidence, while commercial installation sales grew by 10%, and heavy commercial sales increased over 15%.Multifamily end market backlog expanded, indicating stability in that segment despite overall softening in single-family housing starts, which decreased 4% year-over-year, while multifamily starts increased 10%.

Installed Building’s $395 Million Cash Position — Can M&A Accelerate From Here?