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>Restoration Hardware, a luxury home furnishings company, reported first-quarter fiscal 2026 revenues of $800.3 million and an adjusted EBITDA margin of 7.1%, both surpassing the upper end of their expectations despite elevated backorder and special order balances largely due to tariff-related resourcing challenges.</li><li>The company raised its full-year 2026 guidance, projecting revenue growth of 4.5% to 8%, adjusted EBITDA margins between 14.2% and 16%, and adjusted free cash flow ranging from $300 million to $400 million.</li><li>These figures factor in expected negative impacts from international expansion, including preopening and startup costs estimated to reduce adjusted EBITDA margins by approximately 270 basis points for the full year and 380 basis points in the second quarter.</li></ul>

Restoration Hardware, a luxury home furnishings company, reported first-quarter fiscal 2026 revenues of $800.3 million and an adjusted EBITDA margin of 7.1%, both surpassing the upper end of their expectations despite elevated backorder and special order balances largely due to tariff-related resourcing challenges.The company raised its full-year 2026 guidance, projecting revenue growth of 4.5% to 8%, adjusted EBITDA margins between 14.2% and 16%, and adjusted free cash flow ranging from $300 million to $400 million.These figures factor in expected negative impacts from international expansion, including preopening and startup costs estimated to reduce adjusted EBITDA margins by approximately 270 basis points for the full year and 380 basis points in the second quarter.

RH Estates Sparks Buzz: Can Restoration Hardware Crack 60% Of The Luxury Market?