Research from Atrium Research, Atrium Research Corporation

Atrium Research

Research from Atrium Research

Atrium Research Corporation

Atrium Research provides institutional quality issuer paid research on public equities in North America. Our investment philosophy takes a 3-5 year view on equities currently being overlooked by the market. Our research process emphasizes understanding the key performance metrics for each specific company, trustworthy management teams, unit economics, and an in-depth valuation analysis. 

Our research product includes in-depth initiation reports, research notes, thematic research pieces, and company fact sheets.

Equity Bottom-Up

<ul>
<li>Defence and aerospace small-cap equities are emerging as key beneficiaries of increasing government defence budgets.</li>
<li>Canada has committed to meeting NATO’s 2% GDP target by 2025-2026, with interim boosts totalling C$9B in new spending.</li>
<li>Demand for fighter jets, naval systems, NORAD upgrades, and drone defence create multi-year tailwinds for niche suppliers.</li>
</ul>


Defence and aerospace small-cap equities are emerging as key beneficiaries of increasing government defence budgets.
Canada has committed to meeting NATO’s 2% GDP target by 2025-2026, with interim boosts totalling C$9B in new spending.
Demand for fighter jets, naval systems, NORAD upgrades, and drone defence create multi-year tailwinds for niche suppliers.


Small-Caps Positioned to Benefit from Multi-Year Defence Spending Cycle

<ul><li>What you need to know: • Since our last note in September, there have been 11 new takeouts in Canadian small-caps.</li><li>This has accelerated in recent weeks with the acquisitions of Softchoice, Quisitive, and Carebook.</li><li>• Our potential takeouts portfolio is up 61% since inception (November 2023) and 13% since our last note, compared to the TSX up 28% and 9% respectively.</li></ul>

What you need to know: • Since our last note in September, there have been 11 new takeouts in Canadian small-caps.This has accelerated in recent weeks with the acquisitions of Softchoice, Quisitive, and Carebook.• Our potential takeouts portfolio is up 61% since inception (November 2023) and 13% since our last note, compared to the TSX up 28% and 9% respectively.

Finding the Next Takeout in Canadian Small-Caps - Part Four

<ul>
<li>Since our last note in May, there have been 10 additional takeouts in Canadian small-caps, most of which coming in a significant premiums.</li>
<li>The new acquisitions largely fit within the framework outlined in previous reports.</li>
<li>Our potential takeouts portfolio is up 43% since inception (November 2023) and 17% since our last note, compared to the TSX up 18% and 3% respectively.</li>
</ul>


Since our last note in May, there have been 10 additional takeouts in Canadian small-caps, most of which coming in a significant premiums.
The new acquisitions largely fit within the framework outlined in previous reports.
Our potential takeouts portfolio is up 43% since inception (November 2023) and 17% since our last note, compared to the TSX up 18% and 3% respectively.


Finding the Next Takeout in Canadian Small-Caps - Part Three

Canada

Magellan Aerospace Corporation supplies products and services to commercial and defense aircraft manufacturers and operators worldwide.  The Company also provides repair and overhaul services, as well as manufactures components and sub-systems, specifically radar, sonar and satellite structures.  Magellan designs and develops aircraft structures, engines and advanced energy systems.

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Magellan Aerospace (MAL CN)

Small-Caps Positioned to Benefit from Multi-Year Defence Spending Cycle

Defence and aerospace small-cap equities are emerging as key beneficiaries of increasing government defence budgets. Canada has committed to...

Atrium Research

Finding the Next Takeout in Canadian Small-Caps - Part Four

What you need to know: • Since our last note in September, there have been 11 new takeouts in Canadian small-caps. This has accelerated in recent...

Atrium Research

Finding the Next Takeout in Canadian Small-Caps - Part Three

Since our last note in May, there have been 10 additional takeouts in Canadian small-caps, most of which coming in a significant premiums.

Atrium Research

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)