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>Watsco reported a relatively stable start to 2026 as the HVAC distribution market continued transitioning toward a more normalized operating environment following several years of supply chain disruption, regulatory changes, inflationary pressures, and refrigerant transitions.</li><li>Revenue in U.S. markets increased 2% during the first quarter, supported by improved sales mix, higher-efficiency A2L equipment adoption, and stronger digital platform activity, partially offset by lower equipment unit volumes.</li><li>Management emphasized that the A2L refrigerant transition has now largely matured, creating a simpler operating environment compared to prior years when product changes, supply shortages, and inventory volatility heavily affected industry conditions.</li></ul>

Watsco reported a relatively stable start to 2026 as the HVAC distribution market continued transitioning toward a more normalized operating environment following several years of supply chain disruption, regulatory changes, inflationary pressures, and refrigerant transitions.Revenue in U.S. markets increased 2% during the first quarter, supported by improved sales mix, higher-efficiency A2L equipment adoption, and stronger digital platform activity, partially offset by lower equipment unit volumes.Management emphasized that the A2L refrigerant transition has now largely matured, creating a simpler operating environment compared to prior years when product changes, supply shortages, and inventory volatility heavily affected industry conditions.

Watsco: $2 Billion OnCall Air Target Signals Where The Real Growth Momentum Lives!

Watsco Inc

Watsco: $2 Billion OnCall Air Target Signals Where The Real Growth Momentum Lives!