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>It was a challenging Q1 for Paramount Global, with total revenue of $7.3 billion and the company failed to meet the revenue expectations as well as the earnings expectations of Wall Street.</li><li>Free cash flow in Q1 was a use of $554 million, aligned with expectations for negative free cash flow in 2023, but positive free cash flow is anticipated in the back half of the year.</li><li>The company aims to improve earnings and free cash flow through franchise content, commercial execution, and operating efficiencies, targeting positive growth in 2024.</li></ul>

It was a challenging Q1 for Paramount Global, with total revenue of $7.3 billion and the company failed to meet the revenue expectations as well as the earnings expectations of Wall Street.Free cash flow in Q1 was a use of $554 million, aligned with expectations for negative free cash flow in 2023, but positive free cash flow is anticipated in the back half of the year.The company aims to improve earnings and free cash flow through franchise content, commercial execution, and operating efficiencies, targeting positive growth in 2024.

Paramount Global: Are The Tough Times Here To Stay? – Key Drivers

<ul><li>Paramount had a disappointing set of results in the last quarter as it failed to meet the revenue expectations as well as earnings expectations of Wall Street.</li><li>The company maintained its strength in TV, expanded in cinema, and benefitted from the worldwide surge in streaming during the third quarter.</li><li>Among major updates, Walmart chose Paramount+ when looking to add a streaming service to its Walmart+ package.</li></ul>

Paramount had a disappointing set of results in the last quarter as it failed to meet the revenue expectations as well as earnings expectations of Wall Street.The company maintained its strength in TV, expanded in cinema, and benefitted from the worldwide surge in streaming during the third quarter.Among major updates, Walmart chose Paramount+ when looking to add a streaming service to its Walmart+ package.

Paramount Global: Expansion Of Paramount+ & Other Developments

<ul><li>Paramount delivered a solid quarterly result, exceeding Wall Street expectations in terms of revenues and earnings, driven largely by its media business as well as expansive monetization platforms.</li><li>Through a strong performance at the box office and through its continued robust streaming momentum, the company delivered 19% overall revenue growth.</li><li>The company had 3.7 net subscriber additions to the Paramount+ platform taking its total to 43.3 million subscribers.</li></ul>

Paramount delivered a solid quarterly result, exceeding Wall Street expectations in terms of revenues and earnings, driven largely by its media business as well as expansive monetization platforms.Through a strong performance at the box office and through its continued robust streaming momentum, the company delivered 19% overall revenue growth.The company had 3.7 net subscriber additions to the Paramount+ platform taking its total to 43.3 million subscribers.

Paramount Global: Global Expansion Of Paramount+ & Other Drivers

Credit

<ul><li>Paramount remains fundamentally strong despite operating in a highly competitive market with major incumbents like Disney and Netflix.</li><li>After its recent rebranding exercise, the company had a particularly strong financial result with impressive subscriber growth on its paid streaming platforms.</li><li>In the last quarter lone, the company added 9.4 million new streaming subscribers, with 80% signing up for Paramount+.</li></ul>

Paramount remains fundamentally strong despite operating in a highly competitive market with major incumbents like Disney and Netflix.After its recent rebranding exercise, the company had a particularly strong financial result with impressive subscriber growth on its paid streaming platforms.In the last quarter lone, the company added 9.4 million new streaming subscribers, with 80% signing up for Paramount+.

Paramount Global (formerly ViacomCBS): Detailed Credit Analysis & Financial Strength Evaluation Report

Head of Research, IPOs & Placements, Aequitas Research

Sumeet Singh

Head of Research, IPOs & Placements

IPOs and Placements coverage across Asia Pacific

Aequitas Research

We cover all listing across the Asia Pacific along with follow-up placements. As of Dec 2020, our team had covered 539 IPOs with a hit rate of 73.5% and 685 placements with a hit rate of 66.8%.

We combine fundamental bottom-up views with our proprietary quantitative framework to provide a holistic coverage across new listings and placements. Our coverage includes pre-IPO notes before the deal is launched, follow-up analysis once the deal is live and post-listing trading analysis as well.

Event-Driven

<div>
<p>On 29th Mar 2021, we spoke about the Archegos driven correction in some of the China ADRs,  <a href="https://www.smartkarma.com/insights/china-adrs-blocks-liquidation-buyback-implications" target="_blank" rel="noopener">China ADRs- Blocks, Liquidation, Buyback - Implications.</a> That in turn had followed close on the heels of the SEC driven correction for the sector, which we looked at in <a href="https://www.smartkarma.com/insights/china-adrs-sec-notice-instead-of-three-probably-have-four-years-till-2025-correction-overdone" target="_blank" rel="noopener">China ADRs - SEC Notice - Instead of Three, Probably Have Four Years till 2025 - Correction Overdone</a>.</p>
<p>In this note, we'll talk about the updates since our previous note.</p>
</div>


On 29th Mar 2021, we spoke about the Archegos driven correction in some of the China ADRs,  China ADRs- Blocks, Liquidation, Buyback - Implications. That in turn had followed close on the heels of the SEC driven correction for the sector, which we looked at in China ADRs - SEC Notice - Instead of Three, Probably Have Four Years till 2025 - Correction Overdone.
In this note, we'll talk about the updates since our previous note.


China ADRs Quick Update - SEC, Archegos, Blocks - Showing Signs of Life

United States

Viacom Inc. produces media entertainment content. The Company creates and acquires programming for television, the Internet, mobile devices, video games, and other consumer electronics products. Viacom also produces, finances, and distributes motion pictures to movie theaters and on DVDs, television, digital and other platforms internationally.

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

Viacom Inc Class B (VIAB US)

Paramount Global: Are The Tough Times Here To Stay? – Key Drivers

It was a challenging Q1 for Paramount Global, with total revenue of $7.3 billion and the company failed to meet the revenue expectations as well...

Baptista Research

Paramount Global: Expansion Of Paramount+ & Other Developments

Paramount had a disappointing set of results in the last quarter as it failed to meet the revenue expectations as well as earnings expectations of...

Baptista Research

Paramount Global: Global Expansion Of Paramount+ & Other Drivers

Paramount delivered a solid quarterly result, exceeding Wall Street expectations in terms of revenues and earnings, driven largely by its media...

Baptista Research

Paramount Global (formerly ViacomCBS): Detailed Credit Analysis & Financial Strength Evaluation Report

Paramount remains fundamentally strong despite operating in a highly competitive market with major incumbents like Disney and Netflix. After its...

Baptista Research

China ADRs Quick Update - SEC, Archegos, Blocks - Showing Signs of Life

On 29 Mar, we spoke about the Archegos driven correction, that had followed close on the heals of the SEC driven correction for the sector. In this...

Sumeet Singh

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)