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>Newell Brands recently shared their third quarter 2024 results, highlighting both progress and challenges across various segments.</li><li>The company has been implementing a new corporate strategy aimed at innovation, brand building, and market excellence for more profitable growth, and their results suggest some positive impacts from these efforts.</li><li>On the financial front, Newell reported a narrowing decline in core sales to 1.7% in the third quarter, an improvement compared to the previous quarters of 2024.</li></ul>

Newell Brands recently shared their third quarter 2024 results, highlighting both progress and challenges across various segments.The company has been implementing a new corporate strategy aimed at innovation, brand building, and market excellence for more profitable growth, and their results suggest some positive impacts from these efforts.On the financial front, Newell reported a narrowing decline in core sales to 1.7% in the third quarter, an improvement compared to the previous quarters of 2024.

Newell Brand Inc.: Core Sales Progression & Retail Dynamics As A Primary Growth Accelerator!  - Major Drivers

<ul><li>Newell Brands recently disclosed its financial results for the second quarter of 2024, rendering a complex yet instructively mixed picture of its current status and future prospects.</li><li>The company presented some laudable improvements but also faces significant challenges that could affect its growth trajectory and investment outlook.</li><li>On the positive side, Newell Brands reported results that exceeded their initial expectations with core sales, gross margins, operating margins, and Earnings per Share (EPS) all performing at the high end or beyond their forecasts.</li></ul>

Newell Brands recently disclosed its financial results for the second quarter of 2024, rendering a complex yet instructively mixed picture of its current status and future prospects.The company presented some laudable improvements but also faces significant challenges that could affect its growth trajectory and investment outlook.On the positive side, Newell Brands reported results that exceeded their initial expectations with core sales, gross margins, operating margins, and Earnings per Share (EPS) all performing at the high end or beyond their forecasts.

Duplicate of Newell Brands: A Solid Strategic Business Unit Performance and Innovation Implementation Drives Our Optimism!! - Major Drivers

<ul><li>Newell Brands displayed a strong performance in its first quarter of 2024, reflecting continued progress in its strategic turnaround efforts.</li><li>The company reported improvements across multiple metrics, including gross margin, operational efficiency, and core sales despite a challenging external environment.</li><li>Moreover, Newell Brands maintained its full-year outlook and highlighted ongoing focus on operational excellence and innovation.</li></ul>

Newell Brands displayed a strong performance in its first quarter of 2024, reflecting continued progress in its strategic turnaround efforts.The company reported improvements across multiple metrics, including gross margin, operational efficiency, and core sales despite a challenging external environment.Moreover, Newell Brands maintained its full-year outlook and highlighted ongoing focus on operational excellence and innovation.

Newell Brands: A Solid Strategic Business Unit Performance and Innovation Implementation Drives Our Optimism!! - Major Drivers

Asian Equities Analyst, Logistics & Transport, Tracking Traffic

Daniel Hellberg

Asian Equities Analyst, Logistics & Transport

Equity Capital Markets

YETI Holdings Inc / Equity Capital Markets

<a href="https://www.smartkarma.com/entities/27727" target="_blank" data-smartkarma-citation="entities:27727:1">YETI Holdings Inc (YETI US)</a>, a US-based company specializing in premium outdoor equipment, has filed to sell its shares on the New York Stock Exchange in an offering that could raise as much as US$483 mn. 
In this note we will provide brief overviews of the deal, Yeti's history, and its main products. 
We will also review recent financial performance, which shows mostly strong but volatile top-line growth over the last few years.
Then we will attempt to answer three critical questions facing investors who may consider buying shares in Yeti's IPO: First, how quickly can Yeti grow its revenues in the medium-term? Second, does the company have any sustainable advantages over rivals? And third, which companies are the best comparables to use when trying to establish a reasonable valuation range for Yeti's shares?
Finally, we'll provide our take on Yeti's valuation versus peers at the US$20 per share mid-point. 
We have included a link to Yeti's Form S-1 filing <a href="https://www.sec.gov/Archives/edgar/data/1670592/000104746918006711/a2236865zs-1a.htm" target="_blank">here</a> and at the end of this note.

YETI Holdings Inc (YETI US), a US-based company specializing in premium outdoor equipment, has filed to sell its shares on the New York Stock Exchange in an offering that could raise as much as US$483 mn. 
In this note we will provide brief overviews of the deal, Yeti's history, and its main products. 
We will also review recent financial performance, which shows mostly strong but volatile top-line growth over the last few years.
Then we will attempt to answer three critical questions facing investors who may consider buying shares in Yeti's IPO: First, how quickly can Yeti grow its revenues in the medium-term? Second, does the company have any sustainable advantages over rivals? And third, which companies are the best comparables to use when trying to establish a reasonable valuation range for Yeti's shares?
Finally, we'll provide our take on Yeti's valuation versus peers at the US$20 per share mid-point. 
We have included a link to Yeti's Form S-1 filing here and at the end of this note.

Yeti, Inc IPO: How Much Should Investors Pay to Be Cool?

Korea/Asia, Events, IPOs, Douglas Research Advisory

Douglas Kim

Korea/Asia, Events, IPOs

It was reported on August 25th (after market close) that a Hong Kong based private equity firm Affinity Equity Partners will purchase a 63.56% stake in <a href="https://www.smartkarma.com/entities/4739" target="_blank" data-smartkarma-citation="entities:4739:1">Lock&amp;Lock Co Ltd (115390 KS)</a> for 633.2 billion won (US$561.6 million), or 18,000 won per share. As of August 25th, Lock &amp; Lock's share price was 12,950 won and market cap was 712 billion won. The acquisition price represents a 38.9% premium to the closing price on Friday. Lock &amp; Lock makes wonderful food containers. We use its products at our…

It was reported on August 25th (after market close) that a Hong Kong based private equity firm Affinity Equity Partners will purchase a 63.56% stake in Lock&amp;Lock Co Ltd (115390 KS) for 633.2 billion won (US$561.6 million), or 18,000 won per share. As of August 25th, Lock &amp; Lock's share price was 12,950 won and market cap was 712 billion won. The acquisition price represents a 38.9% premium to the closing price on Friday. Lock &amp; Lock makes wonderful food containers. We use its products at our…

Korea M&A Spotlight: Affinity Equity Partners Acquires Lock & Lock

United States

Newell Rubbermaid Inc. manufactures and markets branded consumer products which are sold through a variety of retail and wholesale distribution channels.  The Company's products include housewares, juvenile products, home furnishings, office products, tools and hardware, and hair accessories.

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Newell Rubbermaid (NWL US)

Newell Brand Inc.: Core Sales Progression & Retail Dynamics As A Primary Growth Accelerator! - Major Drivers

Newell Brands recently shared their third quarter 2024 results, highlighting both progress and challenges across various segments. The company has...

Baptista Research

Duplicate of Newell Brands: A Solid Strategic Business Unit Performance and Innovation Implementation Drives Our Optimism!! - Major Drivers

Newell Brands recently disclosed its financial results for the second quarter of 2024, rendering a complex yet instructively mixed picture of its...

Baptista Research

Newell Brands: A Solid Strategic Business Unit Performance and Innovation Implementation Drives Our Optimism!! - Major Drivers

Newell Brands displayed a strong performance in its first quarter of 2024, reflecting continued progress in its strategic turnaround efforts. The...

Baptista Research

Yeti, Inc IPO: How Much Should Investors Pay to Be Cool?

YETI Holdings Inc (YETI US), a US-based company specializing in premium outdoor equipment, has filed to sell its shares on the New York Stock...

Daniel Hellberg

Korea M&A Spotlight: Affinity Equity Partners Acquires Lock & Lock

It was reported on August 25th (after market close) that a Hong Kong based private equity firm Affinity Equity Partners will purchase a 63.56%...

Douglas Kim

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