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>Emerson Electric Manufacturing Company concluded its fiscal year 2025 with a mixed performance, marked by both achievements and challenges.</li><li>Financially, Emerson reported $1.62 in adjusted earnings per share for the fourth quarter, aligning with its expectations.</li><li>For the full year, adjusted earnings per share increased by 9% to $6, while free cash flow rose 12% year-over-year, reaching $3.24 billion.</li></ul>

Emerson Electric Manufacturing Company concluded its fiscal year 2025 with a mixed performance, marked by both achievements and challenges.Financially, Emerson reported $1.62 in adjusted earnings per share for the fourth quarter, aligning with its expectations.For the full year, adjusted earnings per share increased by 9% to $6, while free cash flow rose 12% year-over-year, reaching $3.24 billion.

Emerson Electric’s Bold Power Play: Tapping Into a New Energy Supercycle!

<ul><li>Emerson exhibited a mixed performance in its third quarter of 2025, attributed to both strategic advancements and external conditions impacting the overall business environment.</li><li>The company's underlying sales growth was modest, up by 3%, driven mainly by its process and hybrid businesses that grew at 3.5%, whereas discrete businesses posted a 2% growth year-over-year.</li><li>Order growth was particularly notable in the Test & Measurement segment, which increased by 16%, signaling a recovery in that market.</li></ul>

Emerson exhibited a mixed performance in its third quarter of 2025, attributed to both strategic advancements and external conditions impacting the overall business environment.The company's underlying sales growth was modest, up by 3%, driven mainly by its process and hybrid businesses that grew at 3.5%, whereas discrete businesses posted a 2% growth year-over-year.Order growth was particularly notable in the Test & Measurement segment, which increased by 16%, signaling a recovery in that market.

Emerson Electric: Accelerating Innovation With Game-Changing Test & Measurement Wins!

<ul><li>Emerson Electric Co. delivered a robust performance in its second quarter of 2025, underscored by underlying orders growth of 4% across all regions, including China.</li><li>The company witnessed increased demand in its process and hybrid businesses, which grew by 6%, while its discrete businesses showed a marked improvement with a notable 8% rise in Test & Measurement orders.</li><li>Overall, Emerson's underlying sales came in strong, landing at the top of their guidance, and the company achieved record margin performance in the quarter.</li></ul>

Emerson Electric Co. delivered a robust performance in its second quarter of 2025, underscored by underlying orders growth of 4% across all regions, including China.The company witnessed increased demand in its process and hybrid businesses, which grew by 6%, while its discrete businesses showed a marked improvement with a notable 8% rise in Test & Measurement orders.Overall, Emerson's underlying sales came in strong, landing at the top of their guidance, and the company achieved record margin performance in the quarter.

Emerson Electric’s Global Playbook: How Diversification Can Potentially Fuel Its Industrial Domination!

<ul><li>Emerson Electric Co. reported a solid start to fiscal year 2025, marked by robust operational performance, strategic investments, and a focus on growth markets.</li><li>The company's first-quarter results highlighted several key positive and negative aspects that are crucial for stakeholders considering investment in Emerson.</li><li>Positively, Emerson reported underlying sales growth of 2% for the first quarter, driven largely by its process and hybrid businesses, which rose by around 5%.</li></ul>

Emerson Electric Co. reported a solid start to fiscal year 2025, marked by robust operational performance, strategic investments, and a focus on growth markets.The company's first-quarter results highlighted several key positive and negative aspects that are crucial for stakeholders considering investment in Emerson.Positively, Emerson reported underlying sales growth of 2% for the first quarter, driven largely by its process and hybrid businesses, which rose by around 5%.

Emerson Electric: What Is The Reason Behind Its Multi-Billion Dollar Aftermarket Revenue?

Quantitative Equity Analyst, DMA

Charlotte van Tiddens, CFA

Quantitative Equity Analyst

Technology-First Company

DMA is a technology-first company that provides an end-to-end SaaS solution to institutional investors. DMA enables regulated entities like asset managers, wealth managers, investment managers and financial advisors to connect their front and back office, break silos and reduce headcount.

Quantitative Analysis

<ul>
<li>Short duration US factor strategies outperformed in September as markets came under pressure (value and dividend yield).</li>
<li>Despite keeping rates unchanged on the 20th of September at 5.5% (upper bound), Fed Chair Powell indicated that rates would be kept higher for longer than initially anticipated.</li>
<li>In this note we explore the <em><strong>relative performance</strong></em> of US factor strategies through different interest rate cycles, to inform timing around factor/style rotation.</li>
</ul>


Short duration US factor strategies outperformed in September as markets came under pressure (value and dividend yield).
Despite keeping rates unchanged on the 20th of September at 5.5% (upper bound), Fed Chair Powell indicated that rates would be kept higher for longer than initially anticipated.
In this note we explore the relative performance of US factor strategies through different interest rate cycles, to inform timing around factor/style rotation.


US Factor Strategies: Value and Dividend Yield Outperform in September, Higher for Longer Narrative

United States

Emerson Electric Co. designs and manufactures electronic and electrical equipment, software, systems and services for industrial, commercial and consumer markets worldwide through its network power, process management, industrial automation, climate technologies and commercial & residential solutions divisions.

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Emerson Electric Co (EMR US)

Emerson Electric’s Bold Power Play: Tapping Into a New Energy Supercycle!

Emerson Electric Manufacturing Company concluded its fiscal year 2025 with a mixed performance, marked by both achievements and...

Baptista Research

Emerson Electric: Accelerating Innovation With Game-Changing Test & Measurement Wins!

Emerson exhibited a mixed performance in its third quarter of 2025, attributed to both strategic advancements and external conditions impacting...

Baptista Research

Emerson Electric’s Global Playbook: How Diversification Can Potentially Fuel Its Industrial Domination!

Emerson Electric Co. delivered a robust performance in its second quarter of 2025, underscored by underlying orders growth of 4% across all...

Baptista Research

Emerson Electric: What Is The Reason Behind Its Multi-Billion Dollar Aftermarket Revenue?

Emerson Electric Co. reported a solid start to fiscal year 2025, marked by robust operational performance, strategic investments, and a focus on...

Baptista Research

US Factor Strategies: Value and Dividend Yield Outperform in September, Higher for Longer Narrative

US rates and factor strategies: higher for longer likely to drive outperformance of short duration factor strategies, long US value short US growth.

DMA

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