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>Mister Car Wash, a leading operator in the car wash industry, recently disclosed its third-quarter earnings for the fiscal year ending September 30, 2024.</li><li>In this review, we analyze the financial results, operational highlights, and forward-looking statements, providing a balanced exploration of both the successes and challenges faced by the company.</li><li>Mister Car Wash reported a 7% increase in sales, totaling $249 million.</li></ul>

Mister Car Wash, a leading operator in the car wash industry, recently disclosed its third-quarter earnings for the fiscal year ending September 30, 2024.In this review, we analyze the financial results, operational highlights, and forward-looking statements, providing a balanced exploration of both the successes and challenges faced by the company.Mister Car Wash reported a 7% increase in sales, totaling $249 million.

Mister Car Wash: Expanding Retail Footprint & 3 Factors Driving Our 'Outperform' Rating! - Major Drivers

<ul><li>Mister Car Wash’s second quarter earnings outlined both promising improvements and areas of potential concern.</li><li>The company reported an 8% sales increment reaching $255 million which is an impressive growth rate.</li><li>The comparable store sales also saw a 2.4% increase.</li></ul>

Mister Car Wash’s second quarter earnings outlined both promising improvements and areas of potential concern.The company reported an 8% sales increment reaching $255 million which is an impressive growth rate.The comparable store sales also saw a 2.4% increase.

Mister Car Wash Inc.: Successfully Tackling  Membership Churn & Improving Retention! - Major Drivers

<ul><li>Mister Car Wash maintained a steady operational trajectory during the first quarter of the fiscal year ending March 31, 2024, reporting a 6% increase in sales to $239 million and a similar rise in adjusted EBITDA to $75 million.</li><li>The company's comp store sales saw a marginal growth of 1%, and it successfully added six new greenfield stores, expanding its total to 482 locations.</li><li>Additionally, Mister Car Wash grew its membership base, adding 35,000 new Unlimited Wash Club (UWC) members, reaching over 2.1 million members in total.</li></ul>

Mister Car Wash maintained a steady operational trajectory during the first quarter of the fiscal year ending March 31, 2024, reporting a 6% increase in sales to $239 million and a similar rise in adjusted EBITDA to $75 million.The company's comp store sales saw a marginal growth of 1%, and it successfully added six new greenfield stores, expanding its total to 482 locations.Additionally, Mister Car Wash grew its membership base, adding 35,000 new Unlimited Wash Club (UWC) members, reaching over 2.1 million members in total.

Mister Car Wash Inc.: Store Network Expansion To Expand The Top-Line! - Major Drivers

<ul><li>Mister Car Wash unveiled its financial performance for the fourth quarter and full fiscal year ending December 31, 2023.</li><li>The annual results demonstrated solid progress driven by the company's efforts to enhance its services, physical operations, and team.</li><li>During Q4, sales rose 7% to $230 million, and adjusted EBITDA grew by 5% to $69.5 million.</li></ul>

Mister Car Wash unveiled its financial performance for the fourth quarter and full fiscal year ending December 31, 2023.The annual results demonstrated solid progress driven by the company's efforts to enhance its services, physical operations, and team.During Q4, sales rose 7% to $230 million, and adjusted EBITDA grew by 5% to $69.5 million.

Mister Car Wash Inc.: Initiation Of Coverage - Increased Revenue Through Titanium 360 Rollout & Member Upgrades & Other Major 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

Mister Car Wash, Inc. operates as a car wash company. The Company offers car exterior and interior cleaning services. Mister Car Wash serves customers in the United States.

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Mister Car Wash (MCW US)

Mister Car Wash: Expanding Retail Footprint & 3 Factors Driving Our 'Outperform' Rating! - Major Drivers

Mister Car Wash, a leading operator in the car wash industry, recently disclosed its third-quarter earnings for the fiscal year ending September...

Baptista Research

Mister Car Wash Inc.: Successfully Tackling Membership Churn & Improving Retention! - Major Drivers

Mister Car Wash’s second quarter earnings outlined both promising improvements and areas of potential concern. The company reported an 8% sales...

Baptista Research

Mister Car Wash Inc.: Store Network Expansion To Expand The Top-Line! - Major Drivers

Mister Car Wash maintained a steady operational trajectory during the first quarter of the fiscal year ending March 31, 2024, reporting a 6%...

Baptista Research

Mister Car Wash Inc.: Initiation Of Coverage - Increased Revenue Through Titanium 360 Rollout & Member Upgrades & Other Major Drivers

Mister Car Wash unveiled its financial performance for the fourth quarter and full fiscal year ending December 31, 2023. The annual results...

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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52-week Range

Market Cap (USDm)

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