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>Peloton's earnings for the first quarter of fiscal 2025 demonstrate a balanced perspective of challenges and opportunities as the company maneuvers through a critical phase marked by leadership transitions and strategic realignment.</li><li>The announcement that Peter Stern will assume the role of CEO and President starting January 1, 2025, heralds a potentially transformative phase for Peloton.</li><li>Peter Stern brings substantial experience from previous roles at major corporations, likely setting a strong foundation for leadership and strategic direction.</li></ul>

Peloton's earnings for the first quarter of fiscal 2025 demonstrate a balanced perspective of challenges and opportunities as the company maneuvers through a critical phase marked by leadership transitions and strategic realignment.The announcement that Peter Stern will assume the role of CEO and President starting January 1, 2025, heralds a potentially transformative phase for Peloton.Peter Stern brings substantial experience from previous roles at major corporations, likely setting a strong foundation for leadership and strategic direction.

Peloton Interactive Inc.: Can Its Strategic Marketing & Customer Acquisition Up Their Game?  - Major Drivers

<ul><li>Peloton's Fourth Quarter Fiscal Year 2024 Earnings highlighted a period of transition and strategic transformation with promises of achieving better financial footing and long-term sustainable growth.</li><li>Peloton announced a new policy: a one-time $95 activation fee for subscribers who purchase used equipment, such as Bikes or Treads, on the secondary market.</li><li>This move comes as Peloton notices a significant rise in new members acquiring second-hand equipment from platforms like Facebook Marketplace.</li></ul>

Peloton's Fourth Quarter Fiscal Year 2024 Earnings highlighted a period of transition and strategic transformation with promises of achieving better financial footing and long-term sustainable growth.Peloton announced a new policy: a one-time $95 activation fee for subscribers who purchase used equipment, such as Bikes or Treads, on the secondary market.This move comes as Peloton notices a significant rise in new members acquiring second-hand equipment from platforms like Facebook Marketplace.

Peloton Interactive Inc: Emphasis on Hardware and Subscription Gross Margins Is A Critical Growth Catalyst!

Korea/Asia, Events, IPOs, Douglas Research Advisory

Douglas Kim

Korea/Asia, Events, IPOs

Douglas Research Advisory

Equity Capital Markets

Kioxia Holdings  / Equity Capital Markets

<ul>
<li>Kioxia plans to complete its IPO on 18 December, valuing Kioxia at 750 billion yen ($4.8 billion), down nearly 50% from the initial market value estimates about 2-3 months ago. </li>
<li>Kioxia had revenue of 909.4 billion Yen (up 84.6% YoY) and EBITDA of 449.6 billion Yen in 1H FY24, driven by the recovering demand for data center and enterprise SSDs.</li>
<li>As of 2Q 2024, Samsung Electronics was the largest player in the global NAND Flash market with a 36.9% market, followed by SK Group (22.1%), and Kioxia (13.8%).</li>
</ul>


Kioxia plans to complete its IPO on 18 December, valuing Kioxia at 750 billion yen ($4.8 billion), down nearly 50% from the initial market value estimates about 2-3 months ago. 
Kioxia had revenue of 909.4 billion Yen (up 84.6% YoY) and EBITDA of 449.6 billion Yen in 1H FY24, driven by the recovering demand for data center and enterprise SSDs.
As of 2Q 2024, Samsung Electronics was the largest player in the global NAND Flash market with a 36.9% market, followed by SK Group (22.1%), and Kioxia (13.8%).


<ul><li>Western Digital's Fourth Quarter and Fiscal 2024 Earnings showcased a blend of achievements and strategic initiatives, offering both opportunities and challenges for investors.</li><li>The company reported strong financial performance, with revenues reaching $3.8 billion for the quarter and $13 billion for the year.</li><li>Non-GAAP gross margin stood at 36.3%, and earnings per share were $1.44, highlighting the company’s operational resilience.</li></ul>

Western Digital's Fourth Quarter and Fiscal 2024 Earnings showcased a blend of achievements and strategic initiatives, offering both opportunities and challenges for investors.The company reported strong financial performance, with revenues reaching $3.8 billion for the quarter and $13 billion for the year.Non-GAAP gross margin stood at 36.3%, and earnings per share were $1.44, highlighting the company’s operational resilience.

Western Digital Corporation: How Are They Dealing With Market Dynamics & Benefiting From Economic Tailwinds! - Major Drivers

<ul><li>Western Digital performed exceptionally well in the third quarter of the fiscal year 2024, with revenue of $3.5 billion, a non-GAAP gross margin of 29.3%, and non-GAAP earnings per share of $0.63, surpassing market expectations.</li><li>The company's performance was bolstered by a diversified portfolio spanning multiple end markets, coupled with structural changes to its businesses enhancing its earning potential and ability to minimize business cycles.</li><li>It was also able to leverage a constrained supply environment for higher earnings per share.</li></ul>

Western Digital performed exceptionally well in the third quarter of the fiscal year 2024, with revenue of $3.5 billion, a non-GAAP gross margin of 29.3%, and non-GAAP earnings per share of $0.63, surpassing market expectations.The company's performance was bolstered by a diversified portfolio spanning multiple end markets, coupled with structural changes to its businesses enhancing its earning potential and ability to minimize business cycles.It was also able to leverage a constrained supply environment for higher earnings per share.

Western Digital Corporation: A Growing Customer Base in Enterprise SSD Space & 5 Major Growth Drivers

United States

Western Digital Corporation is a global provider of solutions for the collection, storage, management, protection and use of digital content, including audio and video. The Company's products include hard drives, solid-state drives, and home entertainment and networking products.

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Western Digital (WDC US)

Peloton Interactive Inc.: Can Its Strategic Marketing & Customer Acquisition Up Their Game? - Major Drivers

Peloton's earnings for the first quarter of fiscal 2025 demonstrate a balanced perspective of challenges and opportunities as the company...

Baptista Research

Peloton Interactive Inc: Emphasis on Hardware and Subscription Gross Margins Is A Critical Growth Catalyst!

Peloton's Fourth Quarter Fiscal Year 2024 Earnings highlighted a period of transition and strategic transformation with promises of achieving...

Baptista Research

Kioxia IPO Preview

Kioxia plans to complete its IPO on 18 December, valuing Kioxia at 750 billion yen ($4.8 billion), down nearly 50% from the initial market value...

Douglas Kim

Western Digital Corporation: How Are They Dealing With Market Dynamics & Benefiting From Economic Tailwinds! - Major Drivers

Western Digital's Fourth Quarter and Fiscal 2024 Earnings showcased a blend of achievements and strategic initiatives, offering both opportunities...

Baptista Research

Western Digital Corporation: A Growing Customer Base in Enterprise SSD Space & 5 Major Growth Drivers

Western Digital performed exceptionally well in the third quarter of the fiscal year 2024, with revenue of $3.5 billion, a non-GAAP gross margin...

Baptista Research

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