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>Leggett & Platt reported full-year 2025 sales of $4.05 billion, reflecting a 7% decrease compared to the prior year, primarily due to persistent softness in residential end markets, divestitures including the Aerospace business, and declines in Automotive and Hydraulic Cylinders.</li><li>Fourth quarter sales declined 11% year-over-year to $939 million, affected by customer-specific sales weakness, retail merchandising changes, and ongoing challenging demand environments.</li><li>Despite these headwinds, adjusted earnings per share (EPS) for the year remained flat at $1.05, with an increase in operating cash flow to $338 million driven by working capital improvements and the completion of significant restructuring initiatives.</li></ul>

Leggett & Platt reported full-year 2025 sales of $4.05 billion, reflecting a 7% decrease compared to the prior year, primarily due to persistent softness in residential end markets, divestitures including the Aerospace business, and declines in Automotive and Hydraulic Cylinders.Fourth quarter sales declined 11% year-over-year to $939 million, affected by customer-specific sales weakness, retail merchandising changes, and ongoing challenging demand environments.Despite these headwinds, adjusted earnings per share (EPS) for the year remained flat at $1.05, with an increase in operating cash flow to $338 million driven by working capital improvements and the completion of significant restructuring initiatives.

Leggett & Platt On The Radar: Why Somnigroup Is Eyeing The Bedding Giant!