Independent research on the U.S. markets, Baptista Research

Baptista Research

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>As of today, Walmart finds itself at a crossroads.</li><li>The retail giant, long seen as a haven during economic uncertainty, saw its market capitalization drop by nearly $22 billion in a single day after the Conference Board reported that U.S. consumer confidence hit a 12-year low.</li><li>This marks the fourth consecutive monthly decline, with the expectations index plummeting to 65.2 — a level that typically signals a looming recession.</li></ul>

As of today, Walmart finds itself at a crossroads.The retail giant, long seen as a haven during economic uncertainty, saw its market capitalization drop by nearly $22 billion in a single day after the Conference Board reported that U.S. consumer confidence hit a 12-year low.This marks the fourth consecutive monthly decline, with the expectations index plummeting to 65.2 — a level that typically signals a looming recession.

Walmart Warns Of Stressed Shoppers as Consumer Confidence Hits ROCK BOTTOM – What Lies Ahead?

<ul><li>Walmart's fiscal year 2025 fourth-quarter results indicate a robust performance, with several aspects of the company's operations contributing positively to its financial health.</li><li>The company reported a 5.2% increase in sales growth and a 9.4% improvement in adjusted operating income in constant currency terms.</li><li>This signifies the continued strength of Walmart's value proposition, which combines low pricing with enhanced convenience for customers.</li></ul>

Walmart's fiscal year 2025 fourth-quarter results indicate a robust performance, with several aspects of the company's operations contributing positively to its financial health.The company reported a 5.2% increase in sales growth and a 9.4% improvement in adjusted operating income in constant currency terms.This signifies the continued strength of Walmart's value proposition, which combines low pricing with enhanced convenience for customers.

Walmart Inc: How Has The Expansion of E-commerce and Digital Engagement Has Become A Key Pillar Of Growth For The Retail Giant!

Asian Equities Analyst, Logistics & Transport, Tracking Traffic

Daniel Hellberg

Asian Equities Analyst, Logistics & Transport

Tracking Traffic

Focusing on Asian logistics, transportation, and travel companies

<ul>
<li>Last week Temu confirmed dramatic changes to its business model in the US</li>
<li>Temu won't sell Chinese goods directly to US consumers, &amp; will rely on local fulfillment</li>
<li>The moves seem to put Temu into direct competition with Amazon, Walmart.com</li>
</ul>


Last week Temu confirmed dramatic changes to its business model in the US
Temu won't sell Chinese goods directly to US consumers, &amp; will rely on local fulfillment
The moves seem to put Temu into direct competition with Amazon, Walmart.com


In Response to Tariff & "De Minimis" Changes, Temu Alters US Business Model, Morphing Into...Amazon?

Market & Forensics Analyst, Beat the Street

Nimish Maheshwari

Market & Forensics Analyst

Beat the Street

Beat The Street was founded by Nimish Maheshwari and Sudarshan Bhandari, both of whom are Chartered Accountants by Profession, known for their expert analysis in the fields of Business, Sectoral analysis, and Corporate governance.

With a strong social media presence of 45,000+ Subscribers across various platforms, they are considered trusted voices in the industry. Their insights and analysis have been featured in some of India’s most prominent publications, including the Economic Times, Dalal Street Investment Journal, The Morning Context, and The Ken.

Their analysis on Bankrupt & Insolvent companies has been instrumental in saving investors from significant losses. They have a keen eye for identifying red flags and has identified exclusive redflags earlier in Vedanta, Nykaa, Dhani Services, Adani and many more.

Read Business Not Stock Prices

Thematic (Sector/Industry)

<ul>
<li>Global companies are shifting supply chains, adopting the "China+1" strategy, with India emerging as a significant winner, attracting manufacturing and investment across sectors like electronics, EVs, and textiles.</li>
<li>India offers a strategic alternative to China, with favorable policies, a growing domestic market, and trade advantages, positioning itself as a manufacturing hub amid global trade shifts.</li>
<li>India is no longer just a backup for China; it's becoming the primary destination for global supply chains, reshaping the manufacturing ecosystem with deepening local integration and technological advancements.</li>
</ul>


Global companies are shifting supply chains, adopting the "China+1" strategy, with India emerging as a significant winner, attracting manufacturing and investment across sectors like electronics, EVs, and textiles.
India offers a strategic alternative to China, with favorable policies, a growing domestic market, and trade advantages, positioning itself as a manufacturing hub amid global trade shifts.
India is no longer just a backup for China; it's becoming the primary destination for global supply chains, reshaping the manufacturing ecosystem with deepening local integration and technological advancements.


Global Reshuffling: Whether India Will Win from China+1?

<ul><li>Walmart's recent performance in the third quarter of the fiscal year 2025 exhibited both strong growth and notable challenges.</li><li>The company achieved a 6.1% increase in sales in constant currency, and profit grew by 9.8%, reflecting Walmart's ability to manage costs and drive efficiency amid complex global operations.</li><li>Key contributors to the positive results include a 27% increase in e-commerce sales, a 28% growth in advertising, and a 22% rise in membership income, which collectively helped Walmart grow profits faster than sales.</li></ul>

Walmart's recent performance in the third quarter of the fiscal year 2025 exhibited both strong growth and notable challenges.The company achieved a 6.1% increase in sales in constant currency, and profit grew by 9.8%, reflecting Walmart's ability to manage costs and drive efficiency amid complex global operations.Key contributors to the positive results include a 27% increase in e-commerce sales, a 28% growth in advertising, and a 22% rise in membership income, which collectively helped Walmart grow profits faster than sales.

Walmart’s Secret Weapons: How Grocery Dominance and Digital Innovation Are Reshaping Retail! -  Major Drivers

United States

Walmart Inc. operates discount stores, supercenters, and neighborhood markets. The Company offers merchandise such as apparel, house wares, small appliances, electronics, musical instruments, books, home improvement, shoes, jewelry, toddler, games, household essentials, pets, pharmaceutical products, party supplies, and automotive tools. Walmart serves customers worldwide.

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Walmart (WMT US)

Walmart Warns Of Stressed Shoppers as Consumer Confidence Hits ROCK BOTTOM – What Lies Ahead?

As of today, Walmart finds itself at a crossroads. The retail giant, long seen as a haven during economic uncertainty, saw its market...

Baptista Research

Walmart Inc: How Has The Expansion of E-commerce and Digital Engagement Has Become A Key Pillar Of Growth For The Retail Giant!

Walmart's fiscal year 2025 fourth-quarter results indicate a robust performance, with several aspects of the company's operations contributing...

Baptista Research

In Response to Tariff & "De Minimis" Changes, Temu Alters US Business Model, Morphing Into...Amazon?

In the US, Pinduoduo's Temu platform has made sudden, dramatic changes to its business model. The changes could bring Temu into direct competition...

Tracking Traffic

Global Reshuffling: Whether India Will Win from China+1?

Global companies are turning to India as a strategic alternative to China, shifting supply chains and investments across various sectors,...

Nimish Maheshwari

Walmart’s Secret Weapons: How Grocery Dominance and Digital Innovation Are Reshaping Retail! - Major Drivers

Walmart's recent performance in the third quarter of the fiscal year 2025 exhibited both strong growth and notable challenges. The company...

Baptista Research

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Walmart Warns Of Stressed Shoppers as Consumer Confidence Hits ROCK BOTTOM – What Lies Ahead?

As of today, Walmart finds itself at a crossroads. The retail giant, long seen as a haven during economic uncertainty, saw its market...

Baptista Research

Walmart Inc: How Has The Expansion of E-commerce and Digital Engagement Has Become A Key Pillar Of Growth For The Retail Giant!

Walmart's fiscal year 2025 fourth-quarter results indicate a robust performance, with several aspects of the company's operations contributing...

Baptista Research

In Response to Tariff & "De Minimis" Changes, Temu Alters US Business Model, Morphing Into...Amazon?

In the US, Pinduoduo's Temu platform has made sudden, dramatic changes to its business model. The changes could bring Temu into direct competition...

Tracking Traffic

Global Reshuffling: Whether India Will Win from China+1?

​Global companies are turning to India as a strategic alternative to China, shifting supply chains and investments across various sectors,...

Nimish Maheshwari

Walmart’s Secret Weapons: How Grocery Dominance and Digital Innovation Are Reshaping Retail! - Major Drivers

Walmart's recent performance in the third quarter of the fiscal year 2025 exhibited both strong growth and notable challenges. The company...

Baptista Research

Global companies are turning to India as a strategic alternative to China, shifting supply chains and investments across various sectors,...