CHICAGO ATLANTIC REAL ESTATE (REFI) Fundamental Analysis & Valuation

NASDAQ:REFI • US1672391026

Current stock price

11.67 USD
-0.26 (-2.18%)
Last:

This REFI fundamental analysis includes valuation metrics, fair value assessment, financial health analysis, profitability trends, growth metrics and dividend sustainability analysis.

8

1. REFI Profitability Analysis

1.1 Basic Checks

  • REFI had positive earnings in the past year.
  • REFI had a positive operating cash flow in the past year.
  • In the past 5 years REFI has always been profitable.
  • In the past 5 years REFI always reported a positive cash flow from operatings.
REFI Yearly Net Income VS EBIT VS OCF VS FCFREFI Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2020 2021 2022 2023 2024 2025 10M 20M 30M

1.2 Ratios

  • REFI's Return On Assets of 8.47% is amongst the best of the industry. REFI outperforms 98.53% of its industry peers.
  • With an excellent Return On Equity value of 11.70%, REFI belongs to the best of the industry, outperforming 83.82% of the companies in the same industry.
  • REFI has a Return On Invested Capital of 6.96%. This is amongst the best in the industry. REFI outperforms 98.53% of its industry peers.
  • REFI had an Average Return On Invested Capital over the past 3 years of 7.65%. This is significantly above the industry average of 1.30%.
Industry RankSector Rank
ROA 8.47%
ROE 11.7%
ROIC 6.96%
ROA(3y)9.25%
ROA(5y)8.12%
ROE(3y)12.64%
ROE(5y)10.75%
ROIC(3y)7.65%
ROIC(5y)6.72%
REFI Yearly ROA, ROE, ROICREFI Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2020 2021 2022 2023 2024 2025 5 10

1.3 Margins

  • Looking at the Profit Margin, with a value of 57.07%, REFI belongs to the top of the industry, outperforming 95.59% of the companies in the same industry.
  • In the last couple of years the Profit Margin of REFI has declined.
  • REFI's Operating Margin of 57.07% is amongst the best of the industry. REFI outperforms 95.59% of its industry peers.
  • REFI's Operating Margin has declined in the last couple of years.
  • REFI's Gross Margin of 88.04% is amongst the best of the industry. REFI outperforms 97.06% of its industry peers.
  • In the last couple of years the Gross Margin of REFI has declined.
Industry RankSector Rank
OM 57.07%
PM (TTM) 57.07%
GM 88.04%
OM growth 3Y-3.11%
OM growth 5YN/A
PM growth 3Y-3.11%
PM growth 5YN/A
GM growth 3Y-2.48%
GM growth 5YN/A
REFI Yearly Profit, Operating, Gross MarginsREFI Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2020 2021 2022 2023 2024 2025 20 40 60 80

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6

2. REFI Health Analysis

2.1 Basic Checks

  • Compared to 1 year ago, REFI has more shares outstanding
  • REFI has more shares outstanding than it did 5 years ago.
  • REFI has a better debt/assets ratio than last year.
REFI Yearly Shares OutstandingREFI Yearly Shares OutstandingYearly Shares Outstanding 2020 2021 2022 2023 2024 2025 5M 10M 15M 20M
REFI Yearly Total Debt VS Total AssetsREFI Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2020 2021 2022 2023 2024 2025 100M 200M 300M 400M

2.2 Solvency

  • REFI has an Altman-Z score of 1.67. This is a bad value and indicates that REFI is not financially healthy and even has some risk of bankruptcy.
  • The Altman-Z score of REFI (1.67) is better than 92.65% of its industry peers.
  • REFI has a debt to FCF ratio of 3.42. This is a good value and a sign of high solvency as REFI would need 3.42 years to pay back of all of its debts.
  • REFI has a better Debt to FCF ratio (3.42) than 98.53% of its industry peers.
  • A Debt/Equity ratio of 0.32 indicates that REFI is not too dependend on debt financing.
  • The Debt to Equity ratio of REFI (0.32) is better than 98.53% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.32
Debt/FCF 3.42
Altman-Z 1.67
ROIC/WACCN/A
WACCN/A
REFI Yearly LT Debt VS Equity VS FCFREFI Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2020 2021 2022 2023 2024 2025 100M 200M 300M

2.3 Liquidity

  • REFI has a Current Ratio of 1.03. This is a normal value and indicates that REFI is financially healthy and should not expect problems in meeting its short term obligations.
  • With an excellent Current ratio value of 1.03, REFI belongs to the best of the industry, outperforming 86.76% of the companies in the same industry.
  • REFI has a Quick Ratio of 1.03. This is a normal value and indicates that REFI is financially healthy and should not expect problems in meeting its short term obligations.
  • REFI has a Quick ratio of 1.03. This is amongst the best in the industry. REFI outperforms 86.76% of its industry peers.
Industry RankSector Rank
Current Ratio 1.03
Quick Ratio 1.03
REFI Yearly Current Assets VS Current LiabilitesREFI Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2021 2022 2023 2024 2025 20M 40M 60M 80M

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WACCDebt/EquityHow to determine the health of a companyAltman-Z scoreShow peers with great health

3

3. REFI Growth Analysis

3.1 Past

  • The earnings per share for REFI have decreased strongly by -10.64% in the last year.
  • The Earnings Per Share has been decreasing by -2.63% on average over the past years.
  • Looking at the last year, REFI shows a small growth in Revenue. The Revenue has grown by 1.88% in the last year.
  • The Revenue has been growing slightly by 7.03% on average over the past years.
EPS 1Y (TTM)-10.64%
EPS 3Y-2.63%
EPS 5YN/A
EPS Q2Q%-2.56%
Revenue 1Y (TTM)1.88%
Revenue growth 3Y7.03%
Revenue growth 5YN/A
Sales Q2Q%3.86%

3.2 Future

  • REFI is expected to show a small growth in Earnings Per Share. In the coming years, the EPS will grow by 6.55% yearly.
  • The Revenue is expected to grow by 6.34% on average over the next years.
EPS Next Y3.42%
EPS Next 2Y6.55%
EPS Next 3YN/A
EPS Next 5YN/A
Revenue Next Year0.41%
Revenue Next 2Y0.87%
Revenue Next 3Y6.34%
Revenue Next 5YN/A

3.3 Evolution

  • When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is accelerating.
  • The Revenue growth rate is stable: in the next years the growth will be about the same than in the last years.
REFI Yearly Revenue VS EstimatesREFI Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2021 2022 2023 2024 2025 2026 2027 2028 20M 40M 60M
REFI Yearly EPS VS EstimatesREFI Yearly EPS VS EstimatesYearly EPS VS Estimates 2021 2022 2023 2024 2025 2026 2027 0.5 1 1.5 2

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7

4. REFI Valuation Analysis

4.1 Price/Earnings Ratio

  • The Price/Earnings ratio is 6.95, which indicates a rather cheap valuation of REFI.
  • Compared to the rest of the industry, the Price/Earnings ratio of REFI indicates a rather cheap valuation: REFI is cheaper than 85.29% of the companies listed in the same industry.
  • REFI's Price/Earnings ratio indicates a rather cheap valuation when compared to the S&P500 average which is at 25.23.
  • With a Price/Forward Earnings ratio of 6.72, the valuation of REFI can be described as very cheap.
  • 82.35% of the companies in the same industry are more expensive than REFI, based on the Price/Forward Earnings ratio.
  • Compared to an average S&P500 Price/Forward Earnings ratio of 22.51, REFI is valued rather cheaply.
Industry RankSector Rank
PE 6.95
Fwd PE 6.72
REFI Price Earnings VS Forward Price EarningsREFI Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 20 40 60 80

4.2 Price Multiples

  • REFI's Price/Free Cash Flow ratio is rather cheap when compared to the industry. REFI is cheaper than 80.88% of the companies in the same industry.
Industry RankSector Rank
P/FCF 8.54
EV/EBITDA N/A
REFI Per share dataREFI EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 5 10

4.3 Compensation for Growth

  • The high PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates an expensive valuation of the company.
  • The excellent profitability rating of REFI may justify a higher PE ratio.
PEG (NY)2.03
PEG (5Y)N/A
EPS Next 2Y6.55%
EPS Next 3YN/A

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Price/EarningsPrice/FCFFCF per shareEV/EBITDAPEG RATIOShow best valued peers

5

5. REFI Dividend Analysis

5.1 Amount

  • REFI has a Yearly Dividend Yield of 15.11%, which is a nice return.
  • Compared to an average industry Dividend Yield of 11.98, REFI pays a better dividend. On top of this REFI pays more dividend than 88.24% of the companies listed in the same industry.
  • REFI's Dividend Yield is rather good when compared to the S&P500 average which is at 1.90.
Industry RankSector Rank
Dividend Yield 15.11%

5.2 History

  • REFI has been paying a dividend for over 5 years, so it has already some track record.
Dividend Growth(5Y)N/A
Div Incr Years0
Div Non Decr Years0
REFI Yearly Dividends per shareREFI Yearly Dividends per shareYearly Dividends per share 2021 2022 2023 2024 2025 0.5 1 1.5 2

5.3 Sustainability

  • 121.75% of the earnings are spent on dividend by REFI. This is not a sustainable payout ratio.
DP121.75%
EPS Next 2Y6.55%
EPS Next 3YN/A
REFI Yearly Income VS Free CF VS DividendREFI Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2021 2022 2023 2024 2025 10M 20M 30M 40M
REFI Dividend Payout.REFI Dividend Payout, showing the Payout Ratio.REFI Dividend Payout.PayoutRetained Earnings

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REFI Fundamentals: All Metrics, Ratios and Statistics

CHICAGO ATLANTIC REAL ESTATE

NASDAQ:REFI (3/27/2026, 12:43:31 PM)

11.67

-0.26 (-2.18%)

Chartmill FA Rating
GICS SectorFinancials
GICS IndustryGroupFinancial Services
GICS IndustryMortgage Real Estate Investment Trusts (REITs)"
Earnings (Last)03-12
Earnings (Next)05-05
Inst Owners34.71%
Inst Owner Change-1.33%
Ins Owners14.29%
Ins Owner Change1.75%
Market Cap246.00M
Revenue(TTM)63.10M
Net Income(TTM)36.01M
Analysts81.82
Price Target17.28 (48.07%)
Short Float %2.87%
Short Ratio4.06
Dividend
Industry RankSector Rank
Dividend Yield 15.11%
Yearly Dividend2.09
Dividend Growth(5Y)N/A
DP121.75%
Div Incr Years0
Div Non Decr Years0
Ex-DateN/A
Surprises & Revisions
EPS beat(2)0
Avg EPS beat(2)-6.64%
Min EPS beat(2)-6.86%
Max EPS beat(2)-6.42%
EPS beat(4)1
Avg EPS beat(4)-5.57%
Min EPS beat(4)-9.16%
Max EPS beat(4)0.17%
EPS beat(8)2
Avg EPS beat(8)-5.98%
EPS beat(12)4
Avg EPS beat(12)-3.9%
EPS beat(16)6
Avg EPS beat(16)-3.74%
Revenue beat(2)0
Avg Revenue beat(2)-1.18%
Min Revenue beat(2)-1.49%
Max Revenue beat(2)-0.88%
Revenue beat(4)1
Avg Revenue beat(4)-0.45%
Min Revenue beat(4)-4.02%
Max Revenue beat(4)4.58%
Revenue beat(8)2
Avg Revenue beat(8)-1.67%
Revenue beat(12)4
Avg Revenue beat(12)-1.17%
Revenue beat(16)8
Avg Revenue beat(16)1.11%
PT rev (1m)0%
PT rev (3m)0%
EPS NQ rev (1m)1.79%
EPS NQ rev (3m)1.79%
EPS NY rev (1m)0%
EPS NY rev (3m)0%
Revenue NQ rev (1m)0.62%
Revenue NQ rev (3m)-1.12%
Revenue NY rev (1m)-3.04%
Revenue NY rev (3m)-3.59%
Valuation
Industry RankSector Rank
PE 6.95
Fwd PE 6.72
P/S 3.9
P/FCF 8.54
P/OCF 8.54
P/B 0.8
P/tB 0.8
EV/EBITDA N/A
EPS(TTM)1.68
EY14.4%
EPS(NY)1.74
Fwd EY14.89%
FCF(TTM)1.37
FCFY11.7%
OCF(TTM)1.37
OCFY11.7%
SpS2.99
BVpS14.6
TBVpS14.6
PEG (NY)2.03
PEG (5Y)N/A
Graham Number23.49
Profitability
Industry RankSector Rank
ROA 8.47%
ROE 11.7%
ROCE 8.82%
ROIC 6.96%
ROICexc 7.23%
ROICexgc 7.23%
OM 57.07%
PM (TTM) 57.07%
GM 88.04%
FCFM 45.63%
ROA(3y)9.25%
ROA(5y)8.12%
ROE(3y)12.64%
ROE(5y)10.75%
ROIC(3y)7.65%
ROIC(5y)6.72%
ROICexc(3y)7.97%
ROICexc(5y)7.17%
ROICexgc(3y)7.97%
ROICexgc(5y)7.17%
ROCE(3y)10.6%
ROCE(5y)9.05%
ROICexgc growth 3Y-3.25%
ROICexgc growth 5YN/A
ROICexc growth 3Y-3.25%
ROICexc growth 5YN/A
OM growth 3Y-3.11%
OM growth 5YN/A
PM growth 3Y-3.11%
PM growth 5YN/A
GM growth 3Y-2.48%
GM growth 5YN/A
F-Score4
Asset Turnover0.15
Health
Industry RankSector Rank
Debt/Equity 0.32
Debt/FCF 3.42
Debt/EBITDA N/A
Cap/Depr N/A
Cap/Sales N/A
Interest Coverage 5.19
Cash Conversion N/A
Profit Quality 79.96%
Current Ratio 1.03
Quick Ratio 1.03
Altman-Z 1.67
F-Score4
WACCN/A
ROIC/WACCN/A
Cap/Depr(3y)N/A
Cap/Depr(5y)N/A
Cap/Sales(3y)N/A
Cap/Sales(5y)N/A
Profit Quality(3y)71.96%
Profit Quality(5y)67.75%
High Growth Momentum
Growth
EPS 1Y (TTM)-10.64%
EPS 3Y-2.63%
EPS 5YN/A
EPS Q2Q%-2.56%
EPS Next Y3.42%
EPS Next 2Y6.55%
EPS Next 3YN/A
EPS Next 5YN/A
Revenue 1Y (TTM)1.88%
Revenue growth 3Y7.03%
Revenue growth 5YN/A
Sales Q2Q%3.86%
Revenue Next Year0.41%
Revenue Next 2Y0.87%
Revenue Next 3Y6.34%
Revenue Next 5YN/A
EBIT growth 1Y-2.79%
EBIT growth 3Y3.7%
EBIT growth 5YN/A
EBIT Next YearN/A
EBIT Next 3YN/A
EBIT Next 5YN/A
FCF growth 1Y24.32%
FCF growth 3Y19.18%
FCF growth 5YN/A
OCF growth 1Y24.32%
OCF growth 3Y19.18%
OCF growth 5YN/A

CHICAGO ATLANTIC REAL ESTATE / REFI Fundamental Analysis FAQ

Can you provide the ChartMill fundamental rating for CHICAGO ATLANTIC REAL ESTATE?

ChartMill assigns a fundamental rating of 6 / 10 to REFI.


What is the valuation status of CHICAGO ATLANTIC REAL ESTATE (REFI) stock?

ChartMill assigns a valuation rating of 7 / 10 to CHICAGO ATLANTIC REAL ESTATE (REFI). This can be considered as Undervalued.


What is the profitability of REFI stock?

CHICAGO ATLANTIC REAL ESTATE (REFI) has a profitability rating of 8 / 10.


What is the valuation of CHICAGO ATLANTIC REAL ESTATE based on its PE and PB ratios?

The Price/Earnings (PE) ratio for CHICAGO ATLANTIC REAL ESTATE (REFI) is 6.95 and the Price/Book (PB) ratio is 0.8.


Can you provide the financial health for REFI stock?

The financial health rating of CHICAGO ATLANTIC REAL ESTATE (REFI) is 6 / 10.