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>Volkswagen AG is navigating one of its most complex periods in recent memory, marked by intensifying trade tensions, costly restructuring, and strategic recalibration across key markets.</li>
<li>The company’s Q1 2025 results and full-year 2024 earnings call paint a picture of a resilient but deeply challenged automaker.</li>
<li>Operating profit dropped nearly 40% YoY to €2.8 billion, primarily due to restructuring expenses and early impacts of U.S. tariffs on vehicle shipments, while full-year profit after tax fell 31% to €12.4 billion.</li>
</ul>


Volkswagen AG is navigating one of its most complex periods in recent memory, marked by intensifying trade tensions, costly restructuring, and strategic recalibration across key markets.
The company’s Q1 2025 results and full-year 2024 earnings call paint a picture of a resilient but deeply challenged automaker.
Operating profit dropped nearly 40% YoY to €2.8 billion, primarily due to restructuring expenses and early impacts of U.S. tariffs on vehicle shipments, while full-year profit after tax fell 31% to €12.4 billion.


Volkswagen's Battle Under Pressure: Tariffs, Trade Woes & The Hidden Upside!

European Event-Driven Analyst

Jesus Rodriguez Aguilar

Event-Driven

<ul>
<li>Since mid-September, share-price spreads have generally widened across our European liquid universe of ordinary and preferred shares (9 have tightened, 10 widened).</li>
<li>Recommended trades long preferred / short ordinary shares: Atlas Copco, Grifols SA, Media-for-Europe, Volkswagen.</li>
<li>Recommended trades long ordinary / short preferred shares: Carlsberg, Henkel, SSAB Svenska Stal.</li>
</ul>


Since mid-September, share-price spreads have generally widened across our European liquid universe of ordinary and preferred shares (9 have tightened, 10 widened).
Recommended trades long preferred / short ordinary shares: Atlas Copco, Grifols SA, Media-for-Europe, Volkswagen.
Recommended trades long ordinary / short preferred shares: Carlsberg, Henkel, SSAB Svenska Stal.


Liquid Universe of European Ordinary and Preferred Shares: October‘24 Report

<ul>
<li>Since mid-November, spreads have generally widened across our European liquid universe of ordinary and preferred shares (9 have tightened, 10 widened).</li>
<li>Recommended trades long preferred / short ordinary shares: Media-for-Europe, Sixt, Volkswagen (still the most interesting situation).</li>
<li>Recommended trades long ordinary / short preferred shares: Fuchs, Henkel, SSAB Svenska Stal.</li>
</ul>


Since mid-November, spreads have generally widened across our European liquid universe of ordinary and preferred shares (9 have tightened, 10 widened).
Recommended trades long preferred / short ordinary shares: Media-for-Europe, Sixt, Volkswagen (still the most interesting situation).
Recommended trades long ordinary / short preferred shares: Fuchs, Henkel, SSAB Svenska Stal.


Liquid Universe of European Ordinary and Preferred Shares: December‘23 Report

Senior Equity Derivatives Trader

Simon Harris

Equity Derivatives

<ul>
<li>Volkswagen are planning to IPO Porsche in order to address company valuation and to raise funds to further expand into the EV market.</li>
<li>The stock looks attractive on a valuation basis and the company has the potential to transform and future proof the business and gain a more favourable P/E ratio.</li>
<li>We look at the Derivatives Market for the best risk reward strategies.</li>
</ul>


Volkswagen are planning to IPO Porsche in order to address company valuation and to raise funds to further expand into the EV market.
The stock looks attractive on a valuation basis and the company has the potential to transform and future proof the business and gain a more favourable P/E ratio.
We look at the Derivatives Market for the best risk reward strategies.


EQD | Volkswagen (VOW3 GY): Porsche IPO Could Unlock Value-We Look at the Best Derivative Trades

Articles from Caixin Global, Caixin Global

Caixin Global

Articles from Caixin Global

Caixin is a media group dedicated to providing financial and business news through periodicals, online content, mobile apps, conferences, books and TV/video programs. Caixin aims to blaze a trail that helps traditional media prosper in the new media age through integrated multimedia platforms.

News from Caixin

<ul>
<li>
Volkswagen AG’s China joint venture (JV) with state-owned SAIC Motor Corp. Ltd. (<a href="https://www.smartkarma.com/600104.SH" target="_blank" rel="noopener">600104.SH</a> +2.57%) is considering shutting down a combustion engine car plant in Nanjing as it accelerates its pivot toward electrification in the world’s largest auto market where demand for fossil fuel powered vehicles is weakening.
</li>
<li>
The move would be part of efforts by SAIC Volkswagen Automotive Co. Ltd. to “upgrade and optimize” its carmaking capacity as it joins other automakers in increasingly focusing on producing electric smart vehicles in China, the JV told Caixin on Saturday.
</li>
<li>
The plant in Nanjing, the capital of East China’s Jiangsu province, is where the JV produces the conventionally powered Passat, one of its flagship models. It is one of SAIC Volkswagen’s eight manufacturing facilities in the country.
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</li>
</ul>



Volkswagen AG’s China joint venture (JV) with state-owned SAIC Motor Corp. Ltd. (600104.SH +2.57%) is considering shutting down a combustion engine car plant in Nanjing as it accelerates its pivot toward electrification in the world’s largest auto market where demand for fossil fuel powered vehicles is weakening.


The move would be part of efforts by SAIC Volkswagen Automotive Co. Ltd. to “upgrade and optimize” its carmaking capacity as it joins other automakers in increasingly focusing on producing electric smart vehicles in China, the JV told Caixin on Saturday.


The plant in Nanjing, the capital of East China’s Jiangsu province, is where the JV produces the conventionally powered Passat, one of its flagship models. It is one of SAIC Volkswagen’s eight manufacturing facilities in the country.




Volkswagen’s China JV Weighs Shuttering Car Plant as It Accelerates Shift to EVs 

Germany

Volkswagen AG manufactures and sells vehicles. The Company offers economy and luxury automobiles, sports cars, trucks, and commercial vehicles. Volkswagen serves customers worldwide.

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Volkswagen (Pref) (VOW3 GR)

Volkswagen's Battle Under Pressure: Tariffs, Trade Woes & The Hidden Upside!

Volkswagen AG is navigating one of its most complex periods in recent memory, marked by intensifying trade tensions, costly restructuring, and...

Baptista Research

Liquid Universe of European Ordinary and Preferred Shares: October‘24 Report

Since mid-September, share-price spreads have generally widened across our European liquid universe of ordinary and preferred shares (9 have...

Jesus Rodriguez Aguilar

Liquid Universe of European Ordinary and Preferred Shares: December‘23 Report

Since mid-November, spreads have generally widened across our European liquid universe of ordinary and preferred shares (9 have tightened, 10...

Jesus Rodriguez Aguilar

EQD | Volkswagen (VOW3 GY): Porsche IPO Could Unlock Value-We Look at the Best Derivative Trades

Volkswagen AG intends to IPO 25% of its Porsche Unit. This should unlock value and supprt the stock which is trading historically cheap. We...

Simon Harris

Volkswagen’s China JV Weighs Shuttering Car Plant as It Accelerates Shift to EVs

Volkswagen AG’s China joint venture (JV) with state-owned SAIC Motor Corp. Ltd. (600104.SH +2.57%) is considering shutting down a combustion...

Caixin Global

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