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>Vulcan Materials Company delivered strong results in the fourth quarter of 2024 and maintained a positive outlook for 2025.</li><li>The company's strategic focus on expanding and enhancing its core business appears to be yielding results.</li><li>In particular, Vulcan increased its industry-leading aggregates cash gross profit per ton by 12% and executed over $2 billion in acquisitions aimed at broadening its geographic reach and strengthening its market position in three key revenue states.</li></ul>

Vulcan Materials Company delivered strong results in the fourth quarter of 2024 and maintained a positive outlook for 2025.The company's strategic focus on expanding and enhancing its core business appears to be yielding results.In particular, Vulcan increased its industry-leading aggregates cash gross profit per ton by 12% and executed over $2 billion in acquisitions aimed at broadening its geographic reach and strengthening its market position in three key revenue states.

Vulcan Materials: The Growth In Public Construction & Infrastructure Investment Can Really Catalyze Growth!

<ul><li>Vulcan Materials Company's third quarter earnings underscored both the challenges and achievements encountered during the period.</li><li>Amidst significant impacts from four hurricanes and notably high rainfall affecting critical markets, the company reported a shift in aggregate shipments and financial figures that reflect both resilience and areas of pressure.</li><li>Aggregate shipments fell by 10%, attributed largely to disruptive weather conditions that affected Vulcan's operations in several states.</li></ul>

Vulcan Materials Company's third quarter earnings underscored both the challenges and achievements encountered during the period.Amidst significant impacts from four hurricanes and notably high rainfall affecting critical markets, the company reported a shift in aggregate shipments and financial figures that reflect both resilience and areas of pressure.Aggregate shipments fell by 10%, attributed largely to disruptive weather conditions that affected Vulcan's operations in several states.

Vulcan Materials Company: Strong Focus on Infrastructure & Private Sector Demand Is A Potential Growth Catalyst! - Major Drivers

<ul><li>Vulcan Materials Company, specializing in aggregates, demonstrated resilience in its second quarter earnings despite facing operational challenges, including unfavorable weather conditions.</li><li>The company reported significant advancements in unit profitability and margins despite a year-over-year decline in aggregate shipments due to numerous rain-impact days across its key markets.</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>

Vulcan Materials Company, specializing in aggregates, demonstrated resilience in its second quarter earnings despite facing operational challenges, including unfavorable weather conditions.The company reported significant advancements in unit profitability and margins despite a year-over-year decline in aggregate shipments due to numerous rain-impact days across its key markets.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.

Vulcan Materials Company: Focused Investment in Infrastructure and Public Projects Catalyzing Top-Line Growth! - Major Drivers

<ul><li>After the first-quarter 2024 earnings of Vulcan Materials Company, Vulcan confirmed it is on track to deliver a fourth consecutive year of double-digit adjusted EBITDA growth, despite challenging weather conditions during the quarter.</li><li>Adjusted EBITDA for the quarter stood at $323 million, showcasing the durability of the Aggregates business and robust cash generation.</li><li>The pricing environment remains optimistic and gross profit-per-ton expanded, driven by the Vulcan Way of Selling and Vulcan Way of Operating disciplines.</li></ul>

After the first-quarter 2024 earnings of Vulcan Materials Company, Vulcan confirmed it is on track to deliver a fourth consecutive year of double-digit adjusted EBITDA growth, despite challenging weather conditions during the quarter.Adjusted EBITDA for the quarter stood at $323 million, showcasing the durability of the Aggregates business and robust cash generation.The pricing environment remains optimistic and gross profit-per-ton expanded, driven by the Vulcan Way of Selling and Vulcan Way of Operating disciplines.

Vulcan Materials Company: A Tale Of Strategic Dominance In The Aggregates Industry! - Major Drivers

US IPOs and Secondary Offerings, IPO Boutique

IPO Boutique

US IPOs and Secondary Offerings

For more than 20 years, we have been providing research, analysis, commentary and ratings on US Equity Capital Markets to institutional investors (US IPOs and Secondary Offerings). Our vast network of contacts across the Equity Capital Markets and attention-to-detail sets us apart from our competitors.

Since 2012, we have achieved a successful hit rating on 89% of Buy-rated IPOs. The collective “Buy” ratings averaged a first trade of 16.3% above issue.Our Neutral Rated Deals averaged just 2% above the issue price at first trade.

Our written research includes pre-IPO notes before the deal is launched, follow-up analysis once the deal is live and post-listing trading analysis as well.

In addition, we provide a high-touch premium desk access which includes analyst access, as well as real time insights on US IPOs as well as secondary offerings.

IPOs and Secondary Offerings

Equity Capital Markets

<ul>
<li>Company is a manufacturer and supplier of heavy building materials and services operating primarily on the Eastern Seaboard of the United States</li>
<li>They have experienced 50% revenue growth, 150% net income growth and 65% Adjusted EBITDA growth from fiscal 2019 to fiscal 2023.</li>
<li>New York Stock Exchange to list the US unit of Brussels-based Titan Cement International SA</li>
</ul>


Company is a manufacturer and supplier of heavy building materials and services operating primarily on the Eastern Seaboard of the United States
They have experienced 50% revenue growth, 150% net income growth and 65% Adjusted EBITDA growth from fiscal 2019 to fiscal 2023.
New York Stock Exchange to list the US unit of Brussels-based Titan Cement International SA


Titan America (TTAM): Peeking at the Prospectus of Potential February IPO for Titan Cement's US Unit

United States

Vulcan Materials Company produces construction aggregates.  The Company principal product lines are aggregates, asphalt mix and concrete, and cement.

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

Vulcan Materials Co (VMC US)

Vulcan Materials: The Growth In Public Construction & Infrastructure Investment Can Really Catalyze Growth!

Vulcan Materials Company delivered strong results in the fourth quarter of 2024 and maintained a positive outlook for 2025. The company's...

Baptista Research

Vulcan Materials Company: Strong Focus on Infrastructure & Private Sector Demand Is A Potential Growth Catalyst! - Major Drivers

Vulcan Materials Company's third quarter earnings underscored both the challenges and achievements encountered during the period. Amidst...

Baptista Research

Vulcan Materials Company: Focused Investment in Infrastructure and Public Projects Catalyzing Top-Line Growth! - Major Drivers

Vulcan Materials Company, specializing in aggregates, demonstrated resilience in its second quarter earnings despite facing operational...

Baptista Research

Vulcan Materials Company: A Tale Of Strategic Dominance In The Aggregates Industry! - Major Drivers

After the first-quarter 2024 earnings of Vulcan Materials Company, Vulcan confirmed it is on track to deliver a fourth consecutive year of...

Baptista Research

Titan America (TTAM): Peeking at the Prospectus of Potential February IPO for Titan Cement's US Unit

Manufacturer of heavy building materials on the Eastern Seaboard sees significant financial growth, leading to listing on NYSE.

IPO Boutique

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Vulcan Materials: The Growth In Public Construction & Infrastructure Investment Can Really Catalyze Growth!

Vulcan Materials Company delivered strong results in the fourth quarter of 2024 and maintained a positive outlook for 2025. The company's...

Baptista Research

Vulcan Materials Company: Strong Focus on Infrastructure & Private Sector Demand Is A Potential Growth Catalyst! - Major Drivers

Vulcan Materials Company's third quarter earnings underscored both the challenges and achievements encountered during the period. Amidst...

Baptista Research

Vulcan Materials Company: Focused Investment in Infrastructure and Public Projects Catalyzing Top-Line Growth! - Major Drivers

Vulcan Materials Company, specializing in aggregates, demonstrated resilience in its second quarter earnings despite facing operational...

Baptista Research

Vulcan Materials Company: A Tale Of Strategic Dominance In The Aggregates Industry! - Major Drivers

After the first-quarter 2024 earnings of Vulcan Materials Company, Vulcan confirmed it is on track to deliver a fourth consecutive year of...

Baptista Research

Titan America (TTAM): Peeking at the Prospectus of Potential February IPO for Titan Cement's US Unit

​Manufacturer of heavy building materials on the Eastern Seaboard sees significant financial growth, leading to listing on NYSE.

IPO Boutique

Manufacturer of heavy building materials on the Eastern Seaboard sees significant financial growth, leading to listing on NYSE.