Chicago Atlantic Real Estate Finance REFI

REIT - Specialty, Real Estate

$9.37

−0.32%

Market cap: $240.1M
PE: 6.8×; 4y median 7.7×
Forward PE: n/m; not a meaningful number
Price to sales: n/m; one or more of the four quarters through 2026-06-30 missing
EV/EBIT: 6.8×
Revenue, 12 months: n/m; one or more of the four quarters through 2026-06-30 missing
Net margin: n/m; one or more of the four quarters through 2026-06-30 missing

Chicago Atlantic Real Estate Finance trades at 6.8× trailing earnings, cheaper than 98% of the last ten years.

Charts

Financials

Income statement for REFI, by quarter
Income statement	Q3 FY23	Q4 FY23	Q1 FY24	Q2 FY24	Q3 FY24	Q4 FY24	Q1 FY25	Q2 FY25	Q3 FY25	Q4 FY25	Q1 FY26	Q2 FY26
	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a
SG&A	$1.3M+16%	$1.4M+28%	$1.4M+9%	$1.3M−2%	$1.3M+0%	$1.5M+5%	$1.2M−14%	$1.3M+1%	$1.3M+4%	$1.5M+3%	$1.2M−4%	$1.5M+20%
Interest expense	$1.4M+68%	$1.7M+37%	$2.1M+30%	$1.8M+85%	$1.8M+24%	$1.4M−17%	$2.1M−2%	$2.1M+13%	$1.6M−13%	$1.8M+30%	$2M−1%	$2.4M+15%
Pre-tax income	$10M+2%	$9.4M+30%	$8.7M−18%	$9.2M+6%	$11.2M+12%	$7.9M−16%	$10M+15%	$8.9M−3%	$8.9M−20%	$8.2M+3%	$4.8M−52%	$7.5M−16%
	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
Net income	$10M+2%	$9.4M+30%	$8.7M−18%	$9.2M+6%	$11.2M+12%	$7.9M−16%	$10M+15%	$8.9M−3%	$8.9M−20%	$8.2M+3%	$4.8M−52%	$7.5M−16%
	$0.54−2%	$0.51+24%	$0.47−22%	$0.46−2%	$0.56+4%	$0.39−24%	$0.47+0%	$0.41−11%	$0.42−25%	$0.38−3%	$0.23−51%	$0.34−17%
	18.6M+5%	18.6M+5%	18.6M+4%	19.9M+9%	20.1M+8%	20.3M+9%	21.3M+14%	21.5M+8%	21.5M+7%	21.5M+6%	21.5M+1%	21.7M+1%

SG&A: Q2 FY21: 6 months less the 3 months printed beside them.

EPS, diluted: 5 periods, Q4 FY21 to Q4 FY25: quarter's net income to common over its shares, to the cent.

Diluted shares: Q4 FY21: the earlier year to date counted no dilution: the quarter's basic count plus the later year to date's dilution. 4 periods, Q4 FY22 to Q4 FY25: share-days: the 12-month average less the 9-month, weighted by days.

From each company's 10-Q and 10-K filings, the newest version of each figure. Quarters are as filed (a fourth quarter is the year less its first nine months), fiscal years as the 10-K prints them, restated where a later 10-K restated them, and balance sheet lines as of the period's end. A quarter whose 10-Q isn't filed yet is from the company's results release. Growth is on the same period a year earlier. A dash is a period with no figure for the line: the filing doesn't print it, or it hasn't been read yet.

Peers

Companies in REIT - Specialty nearest Chicago Atlantic Real Estate Finance's size, closest first.

Company	Market cap	PE	Its 10y median PE	P/S	Revenue growth	Net margin
REFIChicago Atlantic Real Estate Finance	$240.1M	6.8×	7.7×	n/m	n/m	n/m
PINEAlpine Income Property Trust	$289.9M	35.1×	76.6×	3.8×	+32%	16.5%
NREFNexPoint Real Estate Finance	$294.2M	7.5×	7.4×	n/m	n/m	n/m
STRWStrawberry Fields REIT	$179.4M	19.8×	21.1×	1.1×	+18%	5.3%
MITTTPG Mortgage Investment Trust	$173M	7.4×	8.5×	n/m	n/m	n/m
CHCTCommunity Healthcare Trust	$372.5M	19.4×	95.0×	3.0×	+6%	16.8%
XRNChiron Real Estate	$397.1M	8.1×	9.7×	2.6×	+8%	37.8%
SEVNSeven Hills Realty Trust	$140.4M	9.2×	8.2×	4.5×	−2%	38.0%
TCITranscontinental Realty Investors	$425.1M	51.5×	44.7×	8.5×	+5%	16.1%
FPIFarmland Partners	$447.2M	20.5×	42.2×	8.7×	−6%	49.8%
TRTXTPG RE Finance Trust	$482.1M	11.6×	11.9×	3.3×	−3%	40.2%
Peer median	$333.4M	15.5×	16.5×	3.6×	+5%	27.3%