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>Papa John’s International, Inc. reported its second quarter of 2026 results amid ongoing efforts to execute a multi-faceted transformation plan aimed at strengthening its competitive position and financial performance.</li><li>The company acknowledged that this transformation is taking longer than initially expected, with underperformance particularly evident in its North American segment, where comparable sales declined by 8.3%.</li><li>Conversely, the International segment showed continued resilience, achieving 1.5% comparable sales growth for the seventh consecutive quarter, highlighted by strong results in the U.K. (+10%) and Korea (+9%), while the Middle East remained flat due to regional conflicts.</li></ul>

Papa John’s International, Inc. reported its second quarter of 2026 results amid ongoing efforts to execute a multi-faceted transformation plan aimed at strengthening its competitive position and financial performance.The company acknowledged that this transformation is taking longer than initially expected, with underperformance particularly evident in its North American segment, where comparable sales declined by 8.3%.Conversely, the International segment showed continued resilience, achieving 1.5% comparable sales growth for the seventh consecutive quarter, highlighted by strong results in the U.K. (+10%) and Korea (+9%), while the Middle East remained flat due to regional conflicts.

Papa John’s 300-Store Reset: Could Margins Improve By 200 Basis Points?

Papa John'S Intl

Papa John’s 300-Store Reset: Could Margins Improve By 200 Basis Points?