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>AutoZone's 2024 Q3 Earnings indicated a steady, albeit slightly slowed, growth, triggered by unique weather conditions, stricter tax refund season, and less than expected sales.</li><li>Before analyzing the specifics, it is crucial to acknowledge AutoZone's adherence to its pledge for WOW!</li><li>Customer service although operating in a volatile business environment.</li></ul>

AutoZone's 2024 Q3 Earnings indicated a steady, albeit slightly slowed, growth, triggered by unique weather conditions, stricter tax refund season, and less than expected sales.Before analyzing the specifics, it is crucial to acknowledge AutoZone's adherence to its pledge for WOW!Customer service although operating in a volatile business environment.

AutoZone Inc.: How Will The Increasing Number Of Mega-Hubs Impact The Top-Line? - Major Drivers

External reports (aggregated public sources), Value Investors Club

Value Investors Club

External reports (aggregated public sources)

<ul><li>Autozone is an underappreciated franchise with compelling risk-adjusted return potential</li><li>Largest auto parts retailer by revenue with over 6,300 stores in the U.S. and international presence</li><li>Strong growth through focus on higher margin private label sales and automotive diagnostic software, resilient business model, and impressive track record of shareholder value creation</li></ul><p><em>This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only. This article was originally published 3 months ago on Value Investors Club.</em></p>

Autozone is an underappreciated franchise with compelling risk-adjusted return potentialLargest auto parts retailer by revenue with over 6,300 stores in the U.S. and international presenceStrong growth through focus on higher margin private label sales and automotive diagnostic software, resilient business model, and impressive track record of shareholder value creationThis content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only. This article was originally published 3 months ago on Value Investors Club.

<ul><li>AutoZone's Q2 2024 earnings were decent and the company reported an increase in total sales by 4.6%, and same-store sales by 1.5% on a constant currency basis.</li><li>The management is banking on strong international growth prospects for the short and long terms and has plans to accelerate new store openings over the coming years.</li><li>Operating profit and earnings per share grew by double-digit rates, a continuation of the strong performance seen in recent years.</li></ul>

AutoZone's Q2 2024 earnings were decent and the company reported an increase in total sales by 4.6%, and same-store sales by 1.5% on a constant currency basis.The management is banking on strong international growth prospects for the short and long terms and has plans to accelerate new store openings over the coming years.Operating profit and earnings per share grew by double-digit rates, a continuation of the strong performance seen in recent years.

AutoZone Inc.: 6 Pivotal Factors That Are Shaping Its Growth Journey! - Major Drivers

<ul><li>AutoZone managed to surpass the revenue expectations as well as the earnings expectations of Wall Street, leading to a commendable performance.</li><li>Building on the exceptional performance during the pandemic years of 2020 to 2023, the leadership team is impressed with the post-pandemic sales performance.</li><li>While acknowledging dissatisfaction with sales performance, AutoZone reports encouraging trends, including dollar and unit share gains in domestic retail and commercial businesses.</li></ul>

AutoZone managed to surpass the revenue expectations as well as the earnings expectations of Wall Street, leading to a commendable performance.Building on the exceptional performance during the pandemic years of 2020 to 2023, the leadership team is impressed with the post-pandemic sales performance.While acknowledging dissatisfaction with sales performance, AutoZone reports encouraging trends, including dollar and unit share gains in domestic retail and commercial businesses.

AutoZone Inc.: From Pandemic Woes to Market Dominance – The Inside Story of Their Success - Major Drivers

Global Mobility/Transport, Equity Long-Short

Mohshin Aziz

<ul>
<li>
<a href="https://www.smartkarma.com/entities/tuhu-car-inc" target="_blank" data-smartkarma-citation="entities:36012:1" rel="noopener">Tuhu Car (9690 HK)</a> is poised to capture the lion share of China's automotive aftersales service industry that is forecasted to grow at 7.3% CAGR from 2023:30. </li>
<li>Tuhu is on an inflection of high earnings growth (+30% CAGR) as it has reached scalability, cost efficiency, and its younger shops are maturing profitably.    </li>
<li>Our fair value of HKD24 implies 25x FY25 PE - average for US peers. A bargain with 3-year CAGR of 30%, net cash, and churns high free cash flow.</li>
</ul>



Tuhu Car (9690 HK) is poised to capture the lion share of China's automotive aftersales service industry that is forecasted to grow at 7.3% CAGR from 2023:30. 
Tuhu is on an inflection of high earnings growth (+30% CAGR) as it has reached scalability, cost efficiency, and its younger shops are maturing profitably.    
Our fair value of HKD24 implies 25x FY25 PE - average for US peers. A bargain with 3-year CAGR of 30%, net cash, and churns high free cash flow.


Tuhu Car (9690 HK | BUY | TP:HKD24): Poised to Capture China's Auto Aftersales Service Market

United States

AutoZone, Inc. is a specialty retailer of automotive replacement parts and accessories. The Company offers an extensive product line for cars, sport utility vehicles, vans and light trucks, including new and remanufactured automotive hard parts, maintenance items, accessories and non-automotive products.  Autozone operates in United States and Puerto Rico, and Mexico.

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Autozone Inc (AZO US)

AutoZone Inc.: How Will The Increasing Number Of Mega-Hubs Impact The Top-Line? - Major Drivers

AutoZone's 2024 Q3 Earnings indicated a steady, albeit slightly slowed, growth, triggered by unique weather conditions, stricter tax refund...

Baptista Research

Autozone Inc (AZO) - Friday, Feb 2, 2024

Autozone is an underappreciated franchise with compelling risk-adjusted return potential. Largest auto parts retailer by revenue with over 6,300...

Value Investors Club

AutoZone Inc.: 6 Pivotal Factors That Are Shaping Its Growth Journey! - Major Drivers

AutoZone's Q2 2024 earnings were decent and the company reported an increase in total sales by 4.6%, and same-store sales by 1.5% on a constant...

Baptista Research

AutoZone Inc.: From Pandemic Woes to Market Dominance – The Inside Story of Their Success - Major Drivers

AutoZone managed to surpass the revenue expectations as well as the earnings expectations of Wall Street, leading to a commendable...

Baptista Research

Tuhu Car (9690 HK | BUY | TP:HKD24): Poised to Capture China's Auto Aftersales Service Market

Tuhu Car (9690 HK) set to dominate China's automotive aftersales industry with high earnings growth potential and attractive valuation.

Mohshin Aziz

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

AutoZone Inc.: How Will The Increasing Number Of Mega-Hubs Impact The Top-Line? - Major Drivers

AutoZone's 2024 Q3 Earnings indicated a steady, albeit slightly slowed, growth, triggered by unique weather conditions, stricter tax refund...

Baptista Research

Autozone Inc (AZO) - Friday, Feb 2, 2024

Autozone is an underappreciated franchise with compelling risk-adjusted return potential. Largest auto parts retailer by revenue with over 6,300...

Value Investors Club

AutoZone Inc.: 6 Pivotal Factors That Are Shaping Its Growth Journey! - Major Drivers

AutoZone's Q2 2024 earnings were decent and the company reported an increase in total sales by 4.6%, and same-store sales by 1.5% on a constant...

Baptista Research

AutoZone Inc.: From Pandemic Woes to Market Dominance – The Inside Story of Their Success - Major Drivers

AutoZone managed to surpass the revenue expectations as well as the earnings expectations of Wall Street, leading to a commendable...

Baptista Research

Tuhu Car (9690 HK | BUY | TP:HKD24): Poised to Capture China's Auto Aftersales Service Market

​Tuhu Car (9690 HK) set to dominate China's automotive aftersales industry with high earnings growth potential and attractive valuation.

Mohshin Aziz

Tuhu Car (9690 HK) set to dominate China's automotive aftersales industry with high earnings growth potential and attractive valuation.