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.

Thematic (Sector/Industry)

<ul>
<li>We anticipate oil prices to remain within the US$80-$90 range, which will sustain the current uptick in E&amp;P capital expenditure and foster a strong environment for oilfield services firms.</li>
<li>Our peer group continues to trade at deep-value multiples; currently at 4.5x/4.0x 2024E/2025E EBITDA.</li>
<li>We highlight a few of our favourite small-cap names that we believe have significant upside as we move into H2/24.</li>
</ul>


We anticipate oil prices to remain within the US$80-$90 range, which will sustain the current uptick in E&amp;P capital expenditure and foster a strong environment for oilfield services firms.
Our peer group continues to trade at deep-value multiples; currently at 4.5x/4.0x 2024E/2025E EBITDA.
We highlight a few of our favourite small-cap names that we believe have significant upside as we move into H2/24.


Equity Bottom-Up

<ul>
<li>This series went on a brief hiatus through 2025 as takeouts of small-cap Canadian equities slowed down, however, things appear to be heating up again with a flurry of acquisitions happening over the last few months.</li>
<li>Our potential takeouts portfolio is up 96% since inception, representing 37% annualized and is up 24% in 2025, slightly lagging the resource-heavy TSX last yer.</li>
<li>The portfolio successfully predicted four takeouts.</li>
</ul>


This series went on a brief hiatus through 2025 as takeouts of small-cap Canadian equities slowed down, however, things appear to be heating up again with a flurry of acquisitions happening over the last few months.
Our potential takeouts portfolio is up 96% since inception, representing 37% annualized and is up 24% in 2025, slightly lagging the resource-heavy TSX last yer.
The portfolio successfully predicted four takeouts.


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

Canada

McCoy Global Inc. provides services and equipment internationally to the oil & gas industry through direct sales and distributors. The Company manufactures drilling equipment and replacement parts. McCoy also designs and manufactures custom heavy-duty trailers and offers a range of parts and services.

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McCoy Global (MCB CN)

Oilfield Services: Still Way Too Cheap

We anticipate oil prices to remain within the US$80-$90 range, which will sustain the current uptick in E&P capital expenditure and foster a strong...

Atrium Research

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

Our potential takeouts portfolio is up 96% since inception, representing 37% annualized and is up 24% in 2025, slightly lagging the resource-heavy...

Atrium Research

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