Logo image of REFI

CHICAGO ATLANTIC REAL ESTATE (REFI) Stock Fundamental Analysis

NASDAQ:REFI - Nasdaq - US1672391026 - REIT - Currency: USD

13.3656  -0.09 (-0.7%)

Fundamental Rating

5

Overall REFI gets a fundamental rating of 5 out of 10. We evaluated REFI against 67 industry peers in the Mortgage Real Estate Investment Trusts (REITs)" industry. While REFI belongs to the best of the industry regarding profitability, there are some minor concerns on its financial health. REFI is not valued too expensively and it also shows a decent growth rate.


Dividend Valuation Growth Profitability Health

Quickly go to:

7

1. Profitability

1.1 Basic Checks

In the past year REFI was profitable.
REFI had a positive operating cash flow in the past year.
REFI had positive earnings in 4 of the past 5 years.
Of the past 5 years REFI 4 years had a positive operating cash flow.
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 10M 20M 30M

1.2 Ratios

REFI's Return On Assets of 9.25% is amongst the best of the industry. REFI outperforms 100.00% of its industry peers.
REFI has a Return On Equity of 12.34%. This is amongst the best in the industry. REFI outperforms 97.01% of its industry peers.
REFI has a better Return On Invested Capital (7.57%) than 98.51% of its industry peers.
Measured over the past 3 years, the Average Return On Invested Capital for REFI is significantly above the industry average of 1.41%.
Industry RankSector Rank
ROA 9.25%
ROE 12.34%
ROIC 7.57%
ROA(3y)9.57%
ROA(5y)N/A
ROE(3y)12.82%
ROE(5y)N/A
ROIC(3y)7.95%
ROIC(5y)N/A
REFI Yearly ROA, ROE, ROICREFI Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2020 2021 2022 2023 2024 5 10

1.3 Margins

Looking at the Profit Margin, with a value of 62.16%, REFI belongs to the top of the industry, outperforming 98.51% of the companies in the same industry.
In the last couple of years the Profit Margin of REFI has declined.
REFI has a Operating Margin of 62.16%. This is amongst the best in the industry. REFI outperforms 95.52% of its industry peers.
REFI's Operating Margin has declined in the last couple of years.
REFI has a Gross Margin of 88.47%. This is amongst the best in the industry. REFI outperforms 95.52% of its industry peers.
Industry RankSector Rank
OM 62.16%
PM (TTM) 62.16%
GM 88.47%
OM growth 3Y-11.53%
OM growth 5YN/A
PM growth 3Y-11.31%
PM growth 5YN/A
GM growth 3YN/A
GM growth 5YN/A
REFI Yearly Profit, Operating, Gross MarginsREFI Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2020 2021 2022 2023 2024 20 40 60 80

More info and screens

5

2. Health

2.1 Basic Checks

The number of shares outstanding for REFI has been increased compared to 1 year ago.
REFI has a worse debt/assets ratio than last year.
REFI Yearly Shares OutstandingREFI Yearly Shares OutstandingYearly Shares Outstanding 2020 2021 2022 2023 2024 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 100M 200M 300M 400M

2.2 Solvency

REFI has an Altman-Z score of 2.04. This is not the best score and indicates that REFI is in the grey zone with still only limited risk for bankruptcy at the moment.
REFI's Altman-Z score of 2.04 is amongst the best of the industry. REFI outperforms 97.01% of its industry peers.
The Debt to FCF ratio of REFI is 3.65, which is a good value as it means it would take REFI, 3.65 years of fcf income to pay off all of its debts.
REFI has a Debt to FCF ratio of 3.65. This is amongst the best in the industry. REFI outperforms 100.00% of its industry peers.
REFI has a Debt/Equity ratio of 0.28. This is a healthy value indicating a solid balance between debt and equity.
The Debt to Equity ratio of REFI (0.28) is better than 98.51% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.28
Debt/FCF 3.65
Altman-Z 2.04
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 100M 200M 300M

2.3 Liquidity

A Current Ratio of 0.80 indicates that REFI may have some problems paying its short term obligations.
The Current ratio of REFI (0.80) is better than 71.64% of its industry peers.
REFI has a Quick Ratio of 0.80. This is a bad value and indicates that REFI is not financially healthy enough and could expect problems in meeting its short term obligations.
With a decent Quick ratio value of 0.80, REFI is doing good in the industry, outperforming 71.64% of the companies in the same industry.
Industry RankSector Rank
Current Ratio 0.8
Quick Ratio 0.8
REFI Yearly Current Assets VS Current LiabilitesREFI Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2021 2022 2023 2024 20M 40M 60M 80M

More info and screens

4

3. Growth

3.1 Past

The earnings per share for REFI have decreased by -5.53% in the last year.
REFI shows quite a strong growth in Earnings Per Share. Measured over the last years, the EPS has been growing by 8.53% yearly.
Looking at the last year, REFI shows a decrease in Revenue. The Revenue has decreased by -0.12% in the last year.
Measured over the past years, REFI shows a very strong growth in Revenue. The Revenue has been growing by 77.47% on average per year.
EPS 1Y (TTM)-5.53%
EPS 3Y8.53%
EPS 5YN/A
EPS Q2Q%0%
Revenue 1Y (TTM)-0.12%
Revenue growth 3Y77.47%
Revenue growth 5YN/A
Sales Q2Q%-1.54%

3.2 Future

The Earnings Per Share is expected to grow by 3.78% on average over the next years.
Based on estimates for the next years, REFI will show a small growth in Revenue. The Revenue will grow by 4.67% on average per year.
EPS Next Y2.68%
EPS Next 2Y4.68%
EPS Next 3Y3.78%
EPS Next 5YN/A
Revenue Next Year3.23%
Revenue Next 2Y4.85%
Revenue Next 3Y4.67%
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 decreasing.
When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is decreasing.
REFI Yearly Revenue VS EstimatesREFI Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2021 2022 2023 2024 2025 2026 2027 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

More info and screens

6

4. Valuation

4.1 Price/Earnings Ratio

REFI is valuated cheaply with a Price/Earnings ratio of 7.11.
Based on the Price/Earnings ratio, REFI is valued cheaply inside the industry as 85.07% of the companies are valued more expensively.
REFI is valuated cheaply when we compare the Price/Earnings ratio to 28.05, which is the current average of the S&P500 Index.
The Price/Forward Earnings ratio is 6.49, which indicates a rather cheap valuation of REFI.
Based on the Price/Forward Earnings ratio, REFI is valued cheaper than 91.04% of the companies in the same industry.
REFI is valuated cheaply when we compare the Price/Forward Earnings ratio to 37.67, which is the current average of the S&P500 Index.
Industry RankSector Rank
PE 7.11
Fwd PE 6.49
REFI Price Earnings VS Forward Price EarningsREFI Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 10 20 30

4.2 Price Multiples

REFI's Price/Free Cash Flow ratio is in line with the industry average.
Industry RankSector Rank
P/FCF 11.74
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 REFI does not grow enough to justify the current Price/Earnings ratio.
The decent profitability rating of REFI may justify a higher PE ratio.
PEG (NY)2.65
PEG (5Y)N/A
EPS Next 2Y4.68%
EPS Next 3Y3.78%

More info and screens

4

5. Dividend

5.1 Amount

With a Yearly Dividend Yield of 13.88%, REFI is a good candidate for dividend investing.
REFI's Dividend Yield is a higher than the industry average which is at 11.20.
Compared to an average S&P500 Dividend Yield of 2.32, REFI pays a better dividend.
Industry RankSector Rank
Dividend Yield 13.88%

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

107.86% of the earnings are spent on dividend by REFI. This is not a sustainable payout ratio.
DP107.86%
EPS Next 2Y4.68%
EPS Next 3Y3.78%
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 10M 20M 30M 40M
REFI Dividend Payout.REFI Dividend Payout, showing the Payout Ratio.REFI Dividend Payout.PayoutRetained Earnings

More info and screens

CHICAGO ATLANTIC REAL ESTATE

NASDAQ:REFI (7/28/2025, 2:23:07 PM)

13.3656

-0.09 (-0.7%)

Chartmill FA Rating
GICS SectorFinancials
GICS IndustryGroupFinancial Services
GICS IndustryMortgage Real Estate Investment Trusts (REITs)"
Earnings (Last)05-07 2025-05-07/bmo
Earnings (Next)08-07 2025-08-07/bmo
Inst Owners34.38%
Inst Owner Change-1.3%
Ins Owners14.14%
Ins Owner Change6.53%
Market Cap280.28M
Analysts81.82
Price Target17.98 (34.52%)
Short Float %3.06%
Short Ratio6.2
Dividend
Industry RankSector Rank
Dividend Yield 13.88%
Yearly Dividend2.13
Dividend Growth(5Y)N/A
DP107.86%
Div Incr Years0
Div Non Decr Years0
Ex-Date06-30 2025-06-30 (0.47)
Surprises & Revisions
EPS beat(2)1
Avg EPS beat(2)-7.43%
Min EPS beat(2)-15.03%
Max EPS beat(2)0.17%
EPS beat(4)2
Avg EPS beat(4)-3.01%
Min EPS beat(4)-15.03%
Max EPS beat(4)14.38%
EPS beat(8)3
Avg EPS beat(8)-5.19%
EPS beat(12)5
Avg EPS beat(12)-3.55%
EPS beat(16)N/A
Avg EPS beat(16)N/A
Revenue beat(2)0
Avg Revenue beat(2)-3.86%
Min Revenue beat(2)-4.02%
Max Revenue beat(2)-3.7%
Revenue beat(4)1
Avg Revenue beat(4)-2.56%
Min Revenue beat(4)-9.31%
Max Revenue beat(4)6.78%
Revenue beat(8)2
Avg Revenue beat(8)-3.15%
Revenue beat(12)6
Avg Revenue beat(12)0%
Revenue beat(16)N/A
Avg Revenue beat(16)N/A
PT rev (1m)0%
PT rev (3m)-2.08%
EPS NQ rev (1m)2.72%
EPS NQ rev (3m)-0.18%
EPS NY rev (1m)1.02%
EPS NY rev (3m)4.41%
Revenue NQ rev (1m)1.49%
Revenue NQ rev (3m)1.39%
Revenue NY rev (1m)0.81%
Revenue NY rev (3m)-1.19%
Valuation
Industry RankSector Rank
PE 7.11
Fwd PE 6.49
P/S 4.54
P/FCF 11.74
P/OCF 11.74
P/B 0.9
P/tB 0.9
EV/EBITDA N/A
EPS(TTM)1.88
EY14.07%
EPS(NY)2.06
Fwd EY15.41%
FCF(TTM)1.14
FCFY8.52%
OCF(TTM)1.14
OCFY8.52%
SpS2.94
BVpS14.82
TBVpS14.82
PEG (NY)2.65
PEG (5Y)N/A
Profitability
Industry RankSector Rank
ROA 9.25%
ROE 12.34%
ROCE 9.59%
ROIC 7.57%
ROICexc 7.77%
ROICexgc 7.77%
OM 62.16%
PM (TTM) 62.16%
GM 88.47%
FCFM 38.68%
ROA(3y)9.57%
ROA(5y)N/A
ROE(3y)12.82%
ROE(5y)N/A
ROIC(3y)7.95%
ROIC(5y)N/A
ROICexc(3y)8.22%
ROICexc(5y)N/A
ROICexgc(3y)8.22%
ROICexgc(5y)N/A
ROCE(3y)10.97%
ROCE(5y)N/A
ROICexcg growth 3Y24.05%
ROICexcg growth 5YN/A
ROICexc growth 3Y24.05%
ROICexc growth 5YN/A
OM growth 3Y-11.53%
OM growth 5YN/A
PM growth 3Y-11.31%
PM growth 5YN/A
GM growth 3YN/A
GM growth 5YN/A
F-Score3
Asset Turnover0.15
Health
Industry RankSector Rank
Debt/Equity 0.28
Debt/FCF 3.65
Debt/EBITDA N/A
Cap/Depr N/A
Cap/Sales N/A
Interest Coverage 6.23
Cash Conversion N/A
Profit Quality 62.22%
Current Ratio 0.8
Quick Ratio 0.8
Altman-Z 2.04
F-Score3
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)62.87%
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)-5.53%
EPS 3Y8.53%
EPS 5YN/A
EPS Q2Q%0%
EPS Next Y2.68%
EPS Next 2Y4.68%
EPS Next 3Y3.78%
EPS Next 5YN/A
Revenue 1Y (TTM)-0.12%
Revenue growth 3Y77.47%
Revenue growth 5YN/A
Sales Q2Q%-1.54%
Revenue Next Year3.23%
Revenue Next 2Y4.85%
Revenue Next 3Y4.67%
Revenue Next 5YN/A
EBIT growth 1Y4.69%
EBIT growth 3Y57.01%
EBIT growth 5YN/A
EBIT Next YearN/A
EBIT Next 3YN/A
EBIT Next 5YN/A
FCF growth 1Y52.31%
FCF growth 3Y51.43%
FCF growth 5YN/A
OCF growth 1Y52.31%
OCF growth 3Y51.43%
OCF growth 5YN/A