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>Williams-Sonoma, Inc.'s second quarter 2024 earnings report presents a mixed scenario of resilience and caution due to a complex retail environment exacerbated by economic uncertainties and a slow housing market.</li><li>The quarter saw a year-over-year decline in comparable store sales of 3.3%, but this was accompanied by stronger-than-anticipated operating margins of 16.2% and earnings per share of $1.74.</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>

Williams-Sonoma, Inc.'s second quarter 2024 earnings report presents a mixed scenario of resilience and caution due to a complex retail environment exacerbated by economic uncertainties and a slow housing market.The quarter saw a year-over-year decline in comparable store sales of 3.3%, but this was accompanied by stronger-than-anticipated operating margins of 16.2% and earnings per share of $1.74.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.

Williams-Sonoma Inc.: 4 Crucial Growth Drivers & 4 Major Challenges In Its Path! - Financial Forecasts

<ul><li>Williams-Sonoma Inc., a home furnishings retailer, had a robust first quarter of 2024 with a stronger than expected upward trend in profitability despite a slightly negative comp.</li><li>The operating margin was recorded at 19.5% and the earnings per share stood at $4.07.</li><li>An out-of-period adjustment of $49 million, due to the reversal of freight-related accruals, contributed 290 basis points to the operating margin and $0.59 to the EPS.</li></ul>

Williams-Sonoma Inc., a home furnishings retailer, had a robust first quarter of 2024 with a stronger than expected upward trend in profitability despite a slightly negative comp.The operating margin was recorded at 19.5% and the earnings per share stood at $4.07.An out-of-period adjustment of $49 million, due to the reversal of freight-related accruals, contributed 290 basis points to the operating margin and $0.59 to the EPS.

Williams-Sonoma Inc.: How They Are Focusing On Innovative High-Quality Products To Expand Revenues! - Major Drivers

<ul><li>In its latest earnings, Williams-Sonoma, Inc.</li><li>recorded a performance marked by both successes and challenges.</li><li>In Q4, the company saw a -6.8% comp, -7.4% in the 2-year comp, and a +29.1% in the 4-year comp.</li></ul>

In its latest earnings, Williams-Sonoma, Inc.recorded a performance marked by both successes and challenges.In Q4, the company saw a -6.8% comp, -7.4% in the 2-year comp, and a +29.1% in the 4-year comp.

Williams-Sonoma Inc.: Macro-Economic Uncertainty & 3 Major Challenges In Its Path - Major Drivers

US-EU Index Rebalances / Quantitative Researcher, Ortex

Dimitris Ioannidis

US-EU Index Rebalances / Quantitative Researcher

Global Financial Data and Analytics Platform

Ortex

ORTEX is a global financial data and analytics platform providing real-time securities lending and short interest data, index rebalance data, holdings and insider transactions, trading signals, corporate actions and news,  stock machine learning and factor scores and other analytics. The majority of the data are downloadable and accessible through APIs.

Event-Driven

<ul>
<li>
<a href="https://www.smartkarma.com/entities/dell-technologies-inc" target="_blank" data-smartkarma-citation="entities:32189:1" rel="noopener">Dell Technologies (DELL US)</a> is the main candidate for addition-transition with uncertainty arising from the 'Multiple Share Classes' criterion. Forecasted demand is ~$7bn and ~4 ADV.</li>
<li>
<a href="https://www.smartkarma.com/entities/williams-sonoma-inc" target="_blank" data-smartkarma-citation="entities:11383:1" rel="noopener">Williams Sonoma (WSM US)</a> is one of the top candidates for addition-migration with uncertainty due to the migrations' inconsistent market cap selection pattern. Forecasted demand is $840m and ~2.6 ADV.</li>
<li>
<a href="https://www.smartkarma.com/entities/american-airlines-group-inc" target="_blank" data-smartkarma-citation="entities:3663:1" rel="noopener">American Airlines Group (AAL US)</a> is one of the main candidates for deletion with uncertainty due to price hence ranking fluctuations until cut-off. Forecasted supply is $290m and ~0.8 ADV.</li>
</ul>



Dell Technologies (DELL US) is the main candidate for addition-transition with uncertainty arising from the 'Multiple Share Classes' criterion. Forecasted demand is ~$7bn and ~4 ADV.

Williams Sonoma (WSM US) is one of the top candidates for addition-migration with uncertainty due to the migrations' inconsistent market cap selection pattern. Forecasted demand is $840m and ~2.6 ADV.

American Airlines Group (AAL US) is one of the main candidates for deletion with uncertainty due to price hence ranking fluctuations until cut-off. Forecasted supply is $290m and ~0.8 ADV.


S&P 500 September Forecasts: Saved by the Dell?

Pan-Asia Catalysts/Events, Quiddity Advisors

Travis Lundy

Pan-Asia Catalysts/Events

Quiddity Advisors

<ul>
<li>The S&amp;P 500 index tracks the 500 largest names listed in the US and it is one of the most highly-tracked indices in the world.</li>
<li>The rankings used for the June 2024 index rebal event will be decided based on the opening prices tomorrow (6th June 2024).</li>
<li>In this insight, we take a final look at the potential ADDs and DELs leading the rankings for the upcoming review.</li>
</ul>


The S&amp;P 500 index tracks the 500 largest names listed in the US and it is one of the most highly-tracked indices in the world.
The rankings used for the June 2024 index rebal event will be decided based on the opening prices tomorrow (6th June 2024).
In this insight, we take a final look at the potential ADDs and DELs leading the rankings for the upcoming review.


Quiddity Leaderboard S&P 500 Jun 24: Ranks to Be Finalized Tomorrow; 2 Changes Possible

United States

Williams-Sonoma, Inc. retails cooking and serving equipment, home furnishings, and home accessories through retail stores, mail order catalogs and e-commerce. The Company offers its merchandise under the Williams-Sonoma, Pottery Barn, Pottery Barn Kids, Pottery Barn Teen, and West Elm.

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Williams Sonoma (WSM US)

Williams-Sonoma Inc.: 4 Crucial Growth Drivers & 4 Major Challenges In Its Path! - Financial Forecasts

Williams-Sonoma, Inc.'s second quarter 2024 earnings report presents a mixed scenario of resilience and caution due to a complex retail...

Baptista Research

Williams-Sonoma Inc.: How They Are Focusing On Innovative High-Quality Products To Expand Revenues! - Major Drivers

Williams-Sonoma Inc., a home furnishings retailer, had a robust first quarter of 2024 with a stronger than expected upward trend in profitability...

Baptista Research

Williams-Sonoma Inc.: Macro-Economic Uncertainty & 3 Major Challenges In Its Path - Major Drivers

In its latest earnings, Williams-Sonoma, Inc. recorded a performance marked by both successes and challenges. In Q4, the company saw a -6.8% comp,...

Baptista Research

S&P 500 September Forecasts: Saved by the Dell?

Dell Technologies is the biggest candidate for inclusion in the S&P 500 with forecasted demand of ~$7bn and ~4 days of volume. Uncertainty arises...

Dimitris Ioannidis

Quiddity Leaderboard S&P 500 Jun 24: Ranks to Be Finalized Tomorrow; 2 Changes Possible

The S&P500 review will be announced on Friday. The reference price used will be Thursday's opening price. We expect up to two changes, but would...

Travis Lundy

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Williams-Sonoma Inc.: 4 Crucial Growth Drivers & 4 Major Challenges In Its Path! - Financial Forecasts

Williams-Sonoma, Inc.'s second quarter 2024 earnings report presents a mixed scenario of resilience and caution due to a complex retail...

Baptista Research

Williams-Sonoma Inc.: How They Are Focusing On Innovative High-Quality Products To Expand Revenues! - Major Drivers

Williams-Sonoma Inc., a home furnishings retailer, had a robust first quarter of 2024 with a stronger than expected upward trend in profitability...

Baptista Research

Williams-Sonoma Inc.: Macro-Economic Uncertainty & 3 Major Challenges In Its Path - Major Drivers

In its latest earnings, Williams-Sonoma, Inc. recorded a performance marked by both successes and challenges. In Q4, the company saw a -6.8% comp,...

Baptista Research

S&P 500 September Forecasts: Saved by the Dell?

​Dell Technologies is the biggest candidate for inclusion in the S&P 500 with forecasted demand of ~$7bn and ~4 days of volume. Uncertainty arises...

Dimitris Ioannidis

Quiddity Leaderboard S&P 500 Jun 24: Ranks to Be Finalized Tomorrow; 2 Changes Possible

The S&P500 review will be announced on Friday. The reference price used will be Thursday's opening price. We expect up to two changes, but would...

Travis Lundy

Dell Technologies is the biggest candidate for inclusion in the S&P 500 with forecasted demand of ~$7bn and ~4 days of volume. Uncertainty arises...