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>Dorman Products, a player in the automotive aftermarket industry, posted its third-quarter 2024 financial results, reflecting a mix of strengths and challenges.</li><li>The company saw a 3.2% year-over-year rise in consolidated net sales, reaching $504 million.</li><li>This growth was largely fueled by its Light Duty segment, which saw new product launches and automation driving sales, counterbalancing some softness observed across other portions of the market.</li></ul>

Dorman Products, a player in the automotive aftermarket industry, posted its third-quarter 2024 financial results, reflecting a mix of strengths and challenges.The company saw a 3.2% year-over-year rise in consolidated net sales, reaching $504 million.This growth was largely fueled by its Light Duty segment, which saw new product launches and automation driving sales, counterbalancing some softness observed across other portions of the market.

Dorman Products Inc.: New Product Development & Innovation As A Critical Growth Lever! - Major Drivers

<ul><li>Dorman Products has presented its financial and operational updates for the second quarter of 2024, reflecting a mixture of strengths and challenges within its business segments.</li><li>This analysis will delve into the nuanced aspects of Dorman Products' performance, highlighting both the positive outcomes and areas of concern.</li><li>Starting with the financial metrics, Dorman Products reported a 5% year-over-year increase in consolidated net sales, totaling $503 million.</li></ul>

Dorman Products has presented its financial and operational updates for the second quarter of 2024, reflecting a mixture of strengths and challenges within its business segments.This analysis will delve into the nuanced aspects of Dorman Products' performance, highlighting both the positive outcomes and areas of concern.Starting with the financial metrics, Dorman Products reported a 5% year-over-year increase in consolidated net sales, totaling $503 million.

Dorman Products Inc.: An Insight Into The Impact Of Recent Market Trends & Consumer Behavior! - Major Drivers

<ul><li>Dorman Products reported its first quarter of 2024 financial outcomes, revealing both strengths and challenges that the company faced during the period.</li><li>Notably, the company achieved a total net sales of $469 million, marking modest year-over-year growth.</li><li>This growth was driven by the introduction of over 1,400 new products across its segments, many of which were aftermarket exclusives.</li></ul>

Dorman Products reported its first quarter of 2024 financial outcomes, revealing both strengths and challenges that the company faced during the period.Notably, the company achieved a total net sales of $469 million, marking modest year-over-year growth.This growth was driven by the introduction of over 1,400 new products across its segments, many of which were aftermarket exclusives.

Dorman Products Inc.: Expansion of Specialty Vehicle Product Offerings & Major Growth Drivers

<ul><li>This is our first report on Dorman Products, an innovator of repair solutions for the motor vehicle aftermarket industry.</li><li>The company recently released its fourth quarter 2023 earnings report with results in line with their guidance.</li><li>The achievements include record net sales and earnings per share (EPS), significant improvement in margins, and the production and launch of thousands of innovative items across all three segments of the business.</li></ul>

This is our first report on Dorman Products, an innovator of repair solutions for the motor vehicle aftermarket industry.The company recently released its fourth quarter 2023 earnings report with results in line with their guidance.The achievements include record net sales and earnings per share (EPS), significant improvement in margins, and the production and launch of thousands of innovative items across all three segments of the business.

Dorman Products Inc.: Initiation Of Coverage - Robust Product Pipeline & 3 Critical Growth Drivers

IPOs and Catalysts/Events, Global Equity Research Ltd

Arun George

IPOs and Catalysts/Events

Uncompromised, Independent, Conflict-Free Research

Global Equity Research Ltd

Global Equity Research was started in 2017 by a group of experienced research professionals. It was founded on a passionate belief in the importance and the need for uncompromised, independent, conflict-free research. We aim to provide differentiated and actionable primary and bottom up fundamental research.

Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/tuhu-car" target="_blank" data-smartkarma-citation="entities:36012:1" rel="noopener">Tuhu Car (2007986D HK)</a>, a leading integrated online and offline platform for automotive service in China, has launched its HKEx IPO at a price range of HK$28.00-31.00 per share.</li>
<li>In <strong><em><a href="https://www.smartkarma.com/insights/tuhu-car-ipo-the-investment-case" target="_blank" data-smartkarma-citation="insights:112644" rel="noopener">TUHU Car IPO: The Investment Case</a></em></strong>, we highlighted the key elements of the investment case. In this note, we present our forecasts and discuss valuation.</li>
<li>Our valuation analysis suggests that Tuhu is reasonably priced at the IPO price range. We would participate in the IPO. </li>
</ul>



Tuhu Car (2007986D HK), a leading integrated online and offline platform for automotive service in China, has launched its HKEx IPO at a price range of HK$28.00-31.00 per share.
In TUHU Car IPO: The Investment Case, we highlighted the key elements of the investment case. In this note, we present our forecasts and discuss valuation.
Our valuation analysis suggests that Tuhu is reasonably priced at the IPO price range. We would participate in the IPO. 


United States

Dorman Products, Inc. supplies automotive products and home hardware.  The Company supplies its products to the automotive aftermarket and mass merchandise markets.

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Dorman Products (DORM US)

Dorman Products Inc.: New Product Development & Innovation As A Critical Growth Lever! - Major Drivers

Dorman Products, a player in the automotive aftermarket industry, posted its third-quarter 2024 financial results, reflecting a mix of strengths...

Baptista Research

Dorman Products Inc.: An Insight Into The Impact Of Recent Market Trends & Consumer Behavior! - Major Drivers

Dorman Products has presented its financial and operational updates for the second quarter of 2024, reflecting a mixture of strengths and...

Baptista Research

Dorman Products Inc.: Expansion of Specialty Vehicle Product Offerings & Major Growth Drivers

Dorman Products reported its first quarter of 2024 financial outcomes, revealing both strengths and challenges that the company faced during the...

Baptista Research

Dorman Products Inc.: Initiation Of Coverage - Robust Product Pipeline & 3 Critical Growth Drivers

This is our first report on Dorman Products, an innovator of repair solutions for the motor vehicle aftermarket industry. The company recently...

Baptista Research

TUHU Car IPO: Valuation Insights

Tuhu has launched its HKEx IPO at a price range of HK$28.00-31.00 per share. Our valuation analysis suggests that Tuhu is reasonably priced at the...

Arun George

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