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>XPO Inc. reported solid financial performance for Q3 2025, indicating strong operational execution despite a challenging macroeconomic environment.</li><li>The company's adjusted EBITDA reached $342 million, with adjusted diluted EPS at $1.07, representing an increase of 6% and 11%, respectively, from the previous year when excluding non-recurring benefits.</li><li>XPO Inc.'s North American Less-Than-Truckload (LTL) business was a notable contributor, showing a 10% increase in adjusted operating income and a 150 basis point improvement in the adjusted operating ratio to 82.7%.</li></ul>

XPO Inc. reported solid financial performance for Q3 2025, indicating strong operational execution despite a challenging macroeconomic environment.The company's adjusted EBITDA reached $342 million, with adjusted diluted EPS at $1.07, representing an increase of 6% and 11%, respectively, from the previous year when excluding non-recurring benefits.XPO Inc.'s North American Less-Than-Truckload (LTL) business was a notable contributor, showing a 10% increase in adjusted operating income and a 150 basis point improvement in the adjusted operating ratio to 82.7%.

XPO’s Cash Machine: How Smart CapEx Cuts Are Unlocking Billions in Free Flow!

Xpo Logistics

XPO’s Cash Machine: How Smart CapEx Cuts Are Unlocking Billions in Free Flow!