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>In the first quarter of 2024, The Home Depot's total sales amounted to $36.4 billion, marking a decrease of 2.3% from the same period last year.</li><li>The company's comp sales declined by 2.8% and US stores also reported negative comps of 3.2%.</li><li>The diluted earnings per share were noted to be $3.63 for the first quarter, a dip from $3.82 during the first quarter of the previous year.</li></ul>

In the first quarter of 2024, The Home Depot's total sales amounted to $36.4 billion, marking a decrease of 2.3% from the same period last year.The company's comp sales declined by 2.8% and US stores also reported negative comps of 3.2%.The diluted earnings per share were noted to be $3.63 for the first quarter, a dip from $3.82 during the first quarter of the previous year.

The Home Depot Inc.: The Influence of Housing Turnover and Interest Rate Environment! - Major Drivers

<ul><li>The Home Depot's Q4 2023 earnings highlighted both opportunities realized during the fiscal year and challenges faced, which contributed to a year of moderate performance.</li><li>Overall, the company witnessed a sales decline by 3% reaching $152.7 billion for the fiscal year 2023 while comp sales dropped by 3.2% and EPS stood at $15.11, revealing a reduction from the previous year's $16.69.</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>

The Home Depot's Q4 2023 earnings highlighted both opportunities realized during the fiscal year and challenges faced, which contributed to a year of moderate performance.Overall, the company witnessed a sales decline by 3% reaching $152.7 billion for the fiscal year 2023 while comp sales dropped by 3.2% and EPS stood at $15.11, revealing a reduction from the previous year's $16.69.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.

The Home Depot Inc.: Strategic Investment in Pro Ecosystem & Interconnected Experience & Other Developments - Major Drivers

<ul><li>Home Depot, Inc. managed to exceed analyst expectations in terms of revenue as well as earnings.</li><li>The performance in the third quarter aligned with Home Depot's expectations, mirroring trends observed in the second quarter.</li><li>In terms of strategic initiatives, Home Depot emphasized its commitment to enhancing the interconnected shopping experience, particularly for Pro customers.</li></ul>

Home Depot, Inc. managed to exceed analyst expectations in terms of revenue as well as earnings.The performance in the third quarter aligned with Home Depot's expectations, mirroring trends observed in the second quarter.In terms of strategic initiatives, Home Depot emphasized its commitment to enhancing the interconnected shopping experience, particularly for Pro customers.

The Home Depot Inc.: Can The Acquisition Of Construction Resources Further Expand Their Market Share? - Major Drivers

<ul><li>The Home Depot delivered a solid result and managed an all-around beat in the last quarter, with sales of $42.9 billion.</li><li>Comp sales for the entire firm, as well as for the company's US locations, fell in the quarter.</li><li>The second quarter's pro sales performance was slightly worse than the DIY customer's performance.</li></ul>

The Home Depot delivered a solid result and managed an all-around beat in the last quarter, with sales of $42.9 billion.Comp sales for the entire firm, as well as for the company's US locations, fell in the quarter.The second quarter's pro sales performance was slightly worse than the DIY customer's performance.

The Home Depot: Can The Acquisition Of Temco Logistics Be A Game Changer? - Major Drivers

Pan-Asia Index Rebalances/ Events/ Delta One, Periscope Analytics

Brian Freitas

Pan-Asia Index Rebalances/ Events/ Delta One

Periscope Analytics

Periscope Analytics focuses on event-driven trades across Asia Pacific and provides comprehensive, timely and systematic coverage of index changes to major Asia Pacific indices in a structured manner.

The analysis includes forecasted inclusions and exclusions to all major Asian indices that have significant amount of tracking assets, including estimates of passive buy/sell flow on the stocks. The service also provides commentary and impact of market consultations, ground rule changes, and other events (IPOs, spin-offs, M&A) that could lead to index changes and passive flow.

Periscope Analytics works with multi-strategy hedge funds, proprietary trading firms, stat arb trading groups and long-only investors that invest and trade in the Asia Pacific region with the data being used to trade index rebalances, avoid pre-positioning and passive flow, and to time entry into and exit from stocks.

Event-Driven Trades Across Asia Pacific

Event-Driven

<ul>
<li>S&amp;P DJI have started a market consultation to change the index weighting methodology for the Select Sector Indices to reduce concentration and avoid reverse turnover.</li>
<li>There is US$281bn tracking the Select Sector Indices from the SPDR ETFs. The market consultation will have a larger impact on indices where there is a high degree of concentration.</li>
<li>The largest inflows are expected in <a href="https://www.smartkarma.com/entities/apple-inc" target="_blank" data-smartkarma-citation="entities:666:1" rel="noopener">Apple</a>, <a href="https://www.smartkarma.com/entities/conocophillips" target="_blank" data-smartkarma-citation="entities:18090:1" rel="noopener">Conocophillips</a>, <a href="https://www.smartkarma.com/entities/amazon-com-inc" target="_blank" data-smartkarma-citation="entities:409:1" rel="noopener">Amazon.com</a> and <a href="https://www.smartkarma.com/entities/netflix-inc" target="_blank" data-smartkarma-citation="entities:20451:1" rel="noopener">Netflix</a> while the largest outflows will be from <a href="https://www.smartkarma.com/entities/microsoft-corp" target="_blank" data-smartkarma-citation="entities:15273:1" rel="noopener">Microsoft</a>, <a href="https://www.smartkarma.com/entities/nvidia-corp" target="_blank" data-smartkarma-citation="entities:5891:1" rel="noopener">NVIDIA</a>, <a href="https://www.smartkarma.com/entities/chevron-corp" target="_blank" data-smartkarma-citation="entities:11091:1" rel="noopener">Chevron</a>, <a href="https://www.smartkarma.com/entities/procter-gamble-co" target="_blank" data-smartkarma-citation="entities:978:1" rel="noopener">Procter &amp; Gamble</a>, <a href="https://www.smartkarma.com/entities/exxon-mobil-corp" target="_blank" data-smartkarma-citation="entities:811:1" rel="noopener">Exxon Mobil</a>, <a href="https://www.smartkarma.com/entities/costco-wholesale-corp" target="_blank" data-smartkarma-citation="entities:18404:1" rel="noopener">Costco Wholesale</a> and <a href="https://www.smartkarma.com/entities/meta-platforms-inc-class-a-facebook" target="_blank" data-smartkarma-citation="entities:665:1" rel="noopener">Meta Platforms</a>.</li>
</ul>


S&amp;P DJI have started a market consultation to change the index weighting methodology for the Select Sector Indices to reduce concentration and avoid reverse turnover.
There is US$281bn tracking the Select Sector Indices from the SPDR ETFs. The market consultation will have a larger impact on indices where there is a high degree of concentration.
The largest inflows are expected in Apple, Conocophillips, Amazon.com and Netflix while the largest outflows will be from Microsoft, NVIDIA, Chevron, Procter &amp; Gamble, Exxon Mobil, Costco Wholesale and Meta Platforms.


Select Sector Indices - HUGE Impact of Proposed Constituent Weighting Changes

United States

The Home Depot, Inc. is a home improvement retailer that sells building materials and home improvement products. The Company sells a wide assortment of building materials, home improvement and lawn and garden products and provide a number of services. Home Depot operates throughout the U.S. (including Puerto Rico, the Virgin Islands and Guam), Canada, China, and Mexico.

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Home Depot Inc (HD US)

The Home Depot Inc.: The Influence of Housing Turnover and Interest Rate Environment! - Major Drivers

In the first quarter of 2024, The Home Depot's total sales amounted to $36.4 billion, marking a decrease of 2.3% from the same period last...

Baptista Research

The Home Depot Inc.: Strategic Investment in Pro Ecosystem & Interconnected Experience & Other Developments - Major Drivers

The Home Depot's Q4 2023 earnings highlighted both opportunities realized during the fiscal year and challenges faced, which contributed to a year...

Baptista Research

The Home Depot: Can The Acquisition Of Temco Logistics Be A Game Changer? - Major Drivers

The Home Depot delivered a solid result and managed an all-around beat in the last quarter, with sales of $42.9 billion. Comp sales for the entire...

Baptista Research

Select Sector Indices - HUGE Impact of Proposed Constituent Weighting Changes

The market consultation to change the index weighting methodology will set off a US$28bn trade in Sep. Inflows to Apple, Conocophillips, Amazon.com...

Brian Freitas

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

The Home Depot Inc.: The Influence of Housing Turnover and Interest Rate Environment! - Major Drivers

In the first quarter of 2024, The Home Depot's total sales amounted to $36.4 billion, marking a decrease of 2.3% from the same period last...

Baptista Research

The Home Depot Inc.: Strategic Investment in Pro Ecosystem & Interconnected Experience & Other Developments - Major Drivers

The Home Depot's Q4 2023 earnings highlighted both opportunities realized during the fiscal year and challenges faced, which contributed to a year...

Baptista Research

The Home Depot Inc.: Can The Acquisition Of Construction Resources Further Expand Their Market Share? - Major Drivers

Home Depot, Inc. managed to exceed analyst expectations in terms of revenue as well as earnings. The performance in the third quarter aligned with...

Baptista Research

The Home Depot: Can The Acquisition Of Temco Logistics Be A Game Changer? - Major Drivers

The Home Depot delivered a solid result and managed an all-around beat in the last quarter, with sales of $42.9 billion. Comp sales for the entire...

Baptista Research

Select Sector Indices - HUGE Impact of Proposed Constituent Weighting Changes

The market consultation to change the index weighting methodology will set off a US$28bn trade in Sep. Inflows to Apple, Conocophillips, Amazon.com...

Brian Freitas