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>Waste Management, Inc. (WM) reported robust operational and financial performance in its third quarter of 2024, driven by strategic initiatives in cost optimization, disciplined pricing, and ongoing sustainability investments.</li><li>The company's operating EBITDA demonstrated double-digit growth, with a record margin of 30.5%, marking a year over-year increase of 90 basis points, positioning it well to meet its projected full-year target of approximately $6.5 billion in operating EBITDA.</li><li>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>

Waste Management, Inc. (WM) reported robust operational and financial performance in its third quarter of 2024, driven by strategic initiatives in cost optimization, disciplined pricing, and ongoing sustainability investments.The company's operating EBITDA demonstrated double-digit growth, with a record margin of 30.5%, marking a year over-year increase of 90 basis points, positioning it well to meet its projected full-year target of approximately $6.5 billion in operating EBITDA.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.

Waste Management: Operational Efficiency & Cost Optimization As A Strategic Growth Enabler! - Major Drivers

<ul><li>WM presented its financial outcomes for the second quarter of 2024, underscoring a period of significant operational strength and strategic alignment towards its long-term growth objectives.</li><li>WM reported a historical high with a 30% operating EBITDA margin, driven by efficiencies from technological investments and a robust pricing strategy.</li><li>The company's commitment to leveraging its expertise across various platforms was evident, particularly with its planned acquisition of Stericycle, which is expected to complement and expand its service offerings in the medical waste industry.</li></ul>

WM presented its financial outcomes for the second quarter of 2024, underscoring a period of significant operational strength and strategic alignment towards its long-term growth objectives.WM reported a historical high with a 30% operating EBITDA margin, driven by efficiencies from technological investments and a robust pricing strategy.The company's commitment to leveraging its expertise across various platforms was evident, particularly with its planned acquisition of Stericycle, which is expected to complement and expand its service offerings in the medical waste industry.

Waste Management: What Is Their Strategy For  Acquisitions & Market Expansion? - Major Drivers

<ul><li>Waste Management, Inc. has successfully delivered a strong end to 2023, with a 15% increase in fourth quarter operating EBITDA. This has resulted in full year operating EBITDA exceeding the company's most recent guidance range by Waste Management Inc. (WM) witnessed robust financial performance for Q1 2024, underscored by outstanding operational performance in the collection and disposal business.</li><li>Operating EBITDA witnessed a growth of 15% for this quarter, with margins expanding by 240 basis points.</li><li>This was propelled primarily by significant momentum in cost-effective efforts and disciplined execution of pricing programs.</li></ul>

Waste Management, Inc. has successfully delivered a strong end to 2023, with a 15% increase in fourth quarter operating EBITDA. This has resulted in full year operating EBITDA exceeding the company's most recent guidance range by Waste Management Inc. (WM) witnessed robust financial performance for Q1 2024, underscored by outstanding operational performance in the collection and disposal business.Operating EBITDA witnessed a growth of 15% for this quarter, with margins expanding by 240 basis points.This was propelled primarily by significant momentum in cost-effective efforts and disciplined execution of pricing programs.

Waste Management Inc.: A Competitive Edge Through Exclusive Landfill Assets & 5 Key Growth Drivers

<ul><li>Waste Management, Inc.</li><li>has successfully delivered a strong end to 2023, with a 15% increase in fourth quarter operating EBITDA. This has resulted in full year operating EBITDA exceeding the company's most recent guidance range by nearly $25 million, affirming the company's original expectations at the start of the year.</li><li>However, despite this impressive performance, there are still risks ahead given uncertain economic conditions.</li></ul>

Waste Management, Inc.has successfully delivered a strong end to 2023, with a 15% increase in fourth quarter operating EBITDA. This has resulted in full year operating EBITDA exceeding the company's most recent guidance range by nearly $25 million, affirming the company's original expectations at the start of the year.However, despite this impressive performance, there are still risks ahead given uncertain economic conditions.

Waste Management Inc.: Is There A Negative Impact Of Inflation and The Changing Dynamic Of Sustainability-Related Capital Expenditures? - Major Drivers

Technical Analyst, Vermilion Research

Joe Jasper

Technical Analyst

Technical and Quantitative Research

Vermilion Research

Vermilion’s objective is to deliver timely, actionable, and unique technical research to professional investors through the application of our various technical indicators.

Our research strategists seek to highlight securities which we believe are at major inflection points, based on our various technical and quantitative indicators, and offer asymmetric risk/return profiles. Our unique research methodology, centered on relative strength, enables our strategists to deliver superior investment recommendations.

Our process begins by organizing the universe of actively traded stocks into discrete sectors, then into industry groups. We then apply our technical and quantitative tools to identify developing price trends. Once attractive trends are identified within a selected sector or group, we screen for individual stocks which we believe offer the best risk/reward profile. We provide a historical perspective that often reveals, through our long-term charts, how price patterns often repeat themselves over time.

Technical Analysis

<ul>
<li>Semiconductors (SMH,SOXX,NVDA,AVGO) have been leadership since late-2022, but they're extended and starting to see profit taking as market participants rotate into other laggard areas of the market (especially Energy).</li>
<li>The question is whether this new trend lasts a few days, or if this is the start of longer-term trend.</li>
<li>If there will be any lasting rotation away from Technology/semiconductors, SPX and QQQ would need to break strong short-term supports at 5370-5380 and $468-469, respectively. Until then, Tech/semis remain leadership</li>
</ul>


Semiconductors (SMH,SOXX,NVDA,AVGO) have been leadership since late-2022, but they're extended and starting to see profit taking as market participants rotate into other laggard areas of the market (especially Energy).
The question is whether this new trend lasts a few days, or if this is the start of longer-term trend.
If there will be any lasting rotation away from Technology/semiconductors, SPX and QQQ would need to break strong short-term supports at 5370-5380 and $468-469, respectively. Until then, Tech/semis remain leadership


Rotation Is the Lifeblood of a Bull Market; Still Bullish; Supports at SPX 5370-5380, QQQ $468-469

United States

Waste Management, Inc. provides waste management services including collection, transfer, recycling, resource recovery and disposal services, and operates waste-to-energy facilities.  The Company serves municipal, commercial, industrial, and residential customers throughout North America.

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Waste Management (WM US)

Waste Management: Operational Efficiency & Cost Optimization As A Strategic Growth Enabler! - Major Drivers

Waste Management, Inc. (WM) reported robust operational and financial performance in its third quarter of 2024, driven by strategic initiatives in...

Baptista Research

Waste Management: What Is Their Strategy For Acquisitions & Market Expansion? - Major Drivers

WM presented its financial outcomes for the second quarter of 2024, underscoring a period of significant operational strength and strategic...

Baptista Research

Waste Management Inc.: A Competitive Edge Through Exclusive Landfill Assets & 5 Key Growth Drivers

Waste Management, Inc. has successfully delivered a strong end to 2023, with a 15% increase in fourth quarter operating EBITDA. This has resulted...

Baptista Research

Rotation Is the Lifeblood of a Bull Market; Still Bullish; Supports at SPX 5370-5380, QQQ $468-469

Rotation is the Lifeblood of a Bull Market; Bullish Outlook Intact; Expecting Short-term Support at $SPX 5370-5380 and $QQQ $468-469 (20-day MAs...

Vermilion Research

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