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>FedEx Corporation's third-quarter fiscal 2025 performance showcases a balanced mix of operational successes and challenges.</li><li>The results highlight a 2% year-over-year revenue increase, primarily attributed to operational efficiency initiatives, notably the DRIVE savings program, which achieved $600 million in savings for the quarter.</li><li>Driven by these efficiencies, the company saw a 12% increase in adjusted operating income and a 17% rise in adjusted EPS compared to the previous year.</li></ul>

FedEx Corporation's third-quarter fiscal 2025 performance showcases a balanced mix of operational successes and challenges.The results highlight a 2% year-over-year revenue increase, primarily attributed to operational efficiency initiatives, notably the DRIVE savings program, which achieved $600 million in savings for the quarter.Driven by these efficiencies, the company saw a 12% increase in adjusted operating income and a 17% rise in adjusted EPS compared to the previous year.

FedEx’s $600 Million Secret: Cost Cuts, Controversy, and a Game-Changing Split!

<ul><li>FedEx Corporation is embarking on a transformative journey with its announcement to spin off FedEx Freight into a standalone publicly traded company within the next 18 months.</li><li>The move, estimated to unlock over $30 billion in value, aims to streamline FedEx's core operations and capitalize on the rising valuations of standalone trucking companies.</li><li>The spinoff is seen as a strategic step to enhance focus, competitiveness, and shareholder value.</li></ul>

FedEx Corporation is embarking on a transformative journey with its announcement to spin off FedEx Freight into a standalone publicly traded company within the next 18 months.The move, estimated to unlock over $30 billion in value, aims to streamline FedEx's core operations and capitalize on the rising valuations of standalone trucking companies.The spinoff is seen as a strategic step to enhance focus, competitiveness, and shareholder value.

FedEx’s $30 Billion Spin-Off: A Game-Changer for Freight and Shareholders? - Major Drivers

<ul><li>FedEx Corporation's fiscal year 2025 first quarter earnings call revealed a mix of strategic manoeuvres and financial results shaped by a complex economic landscape.</li><li>Amidst an environment characterized by varying demand and ongoing structural changes, the company’s executives laid out both the successes and the pressures faced during the quarter.</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>

FedEx Corporation's fiscal year 2025 first quarter earnings call revealed a mix of strategic manoeuvres and financial results shaped by a complex economic landscape.Amidst an environment characterized by varying demand and ongoing structural changes, the company’s executives laid out both the successes and the pressures faced during the quarter.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.

FedEx Corporation: Dealing With Market Conditions & Volume Management - Major Drivers

<ul><li>FedEx Corporation delivered a robust finish to its fiscal year 2024, showcasing a mixture of challenges and triumphs that reflect the intricate dynamics of the current global logistics and transportation landscape.</li><li>In its fourth quarter, FedEx managed to inflect positive revenue growth amid an environment characterized by continuous demand volatilities and transitioning market conditions, all while advancing significant structural reforms aimed at improving efficiency and profitability.</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>

FedEx Corporation delivered a robust finish to its fiscal year 2024, showcasing a mixture of challenges and triumphs that reflect the intricate dynamics of the current global logistics and transportation landscape.In its fourth quarter, FedEx managed to inflect positive revenue growth amid an environment characterized by continuous demand volatilities and transitioning market conditions, all while advancing significant structural reforms aimed at improving efficiency and profitability.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.

FedEx Corporation: Can The Potential Sale of FedEx Freight Enable Some Kind Of Strategic Growth? - Major Drivers

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>Q424 revenue growth &amp; EBITDA margin both improved noticeably vs Q324 </li>
<li>Additionally, ZTO gave FY25 parcel volume guidance that implies an acceleration of growth</li>
<li>But "key" change in revenue mix is crushing cash returns (Q424 OpCF down -28% Y/Y)</li>
</ul>


Q424 revenue growth &amp; EBITDA margin both improved noticeably vs Q324 
Additionally, ZTO gave FY25 parcel volume guidance that implies an acceleration of growth
But "key" change in revenue mix is crushing cash returns (Q424 OpCF down -28% Y/Y)


Q424 ZTO Express Results & FY25 Guidance: Revenue Growth & Margin Better, But OpCF Shrinking; AVOID

United States

FedEx Corp. delivers packages and freight to multiple countries and territories through an integrated global network.  The Company provides worldwide express delivery, ground small-parcel delivery, less-than-truckload freight delivery, supply chain management services, customs brokerage services, and trade facilitation and electronic commerce solutions.

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FedEx Corp (FDX US)

FedEx’s $600 Million Secret: Cost Cuts, Controversy, and a Game-Changing Split!

FedEx Corporation's third-quarter fiscal 2025 performance showcases a balanced mix of operational successes and challenges. The results highlight...

Baptista Research

FedEx’s $30 Billion Spin-Off: A Game-Changer for Freight and Shareholders? - Major Drivers

FedEx Corporation is embarking on a transformative journey with its announcement to spin off FedEx Freight into a standalone publicly traded...

Baptista Research

FedEx Corporation: Dealing With Market Conditions & Volume Management - Major Drivers

FedEx Corporation's fiscal year 2025 first quarter earnings call revealed a mix of strategic manoeuvres and financial results shaped by a complex...

Baptista Research

FedEx Corporation: Can The Potential Sale of FedEx Freight Enable Some Kind Of Strategic Growth? - Major Drivers

FedEx Corporation delivered a robust finish to its fiscal year 2024, showcasing a mixture of challenges and triumphs that reflect the intricate...

Baptista Research

Q424 ZTO Express Results & FY25 Guidance: Revenue Growth & Margin Better, But OpCF Shrinking; AVOID

ZTO's revenue momentum and core margin improved in Q424, but at the cost of deteriorating Cash Flow. We view the strong recent growth of "key...

Tracking Traffic

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