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>Southwest Airlines demonstrated a mixed performance in the first quarter of 2025, highlighting both progress in strategic initiatives and challenges faced due to the macroeconomic environment.</li><li>The company's revenue strategy transformation seems to be bearing fruit, as indicated by record operating revenues of $6.4 billion, driven by a 3.5% increase in revenue per available seat mile (RASM).</li><li>Key initiatives contributing to this include amendments to their agreement with Chase, enhancements to the Rapid Rewards program, and expanded distribution channels like Expedia.Baptista Research looks to evaluate the different factors that could influence the company's price in the near future and attempts to carry out an independent valuation of the company using a Discounted Cash Flow (DCF) methodology.</li></ul>

Southwest Airlines demonstrated a mixed performance in the first quarter of 2025, highlighting both progress in strategic initiatives and challenges faced due to the macroeconomic environment.The company's revenue strategy transformation seems to be bearing fruit, as indicated by record operating revenues of $6.4 billion, driven by a 3.5% increase in revenue per available seat mile (RASM).Key initiatives contributing to this include amendments to their agreement with Chase, enhancements to the Rapid Rewards program, and expanded distribution channels like Expedia.Baptista Research looks to evaluate the different factors that could influence the company's price in the near future and attempts to carry out an independent valuation of the company using a Discounted Cash Flow (DCF) methodology.

Southwest Airlines: Expansion into New Distribution Channels Like Expedia & Google Flights To Boost Customer Base & Revenue Over Time!

Southwest Airlines Co

Southwest Airlines: Expansion into New Distribution Channels Like Expedia & Google Flights To Boost Customer Base & Revenue Over Time!