Company Analysis

Chicago Atlantic Real Estate Fi REFI

A comprehensive view of key metrics, scores, and financial health for Chicago Atlantic Real Estate Fi

Overview of Chicago Atlantic Real Estate Finance, Inc.

REFI NGM

Real Estate REIT - Mortgage Framework: Real Estate Investment Trusts Micro Cap

Chicago Atlantic Real Estate Finance, Inc. (REFI), is a Micro Cap company, in the REIT - Mortgage industry, last closed at $10.38, about 1959.3% undervalued vs fair value, -21.6% 1Y return, ranked 158/338 in sector.

Metrics P/E 7.3× Rev Growth 1.4% ROE 11.7% Div Yield 16.97%

USD 10.38

-0.38%

(Delayed)

• Vol 90d: 28.5%

Market Cap

$227.77M

Enterprise Value

$316.35M

Overall Score

View breakdown

Overall

Growth

Fair

Profitability

Good

Health

Fair

Efficiency

Good

Valuation

Fair

Growth

Fair

Profitability

Good

Health

Fair

Efficiency

Good

Valuation

Fair

Completeness: 82%

Confidence: 85%

Updated: Jul 5

Top Beats

Quick Facts

Website https://www.refi.reit

HQ Miami Beach, FL

Fiscal year Dec 31

Next Events

Earnings Aug 6 Estimated

Fair Value Snapshot

Bear Base Bull

$190

$214

$241

Current: $10.38 +1959% vs base

Engine Room Money Flow™

Micro Cap

Real Estate Investment Trust - Where revenue goes and how value is created

Flow Steps

Total Revenue

$55.6M

1.4%%

Net Operating Income

$44.2M

-0.6%%

Net Income

$36.0M

-2.8%%

FFO (Funds From Operations)

$294.0M

Money Flow Bridge

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Flow Direction: Money moves from left to right

Components: Breakdown shows composition of each stage

Industry-Specific: Real Estate Investment Trust

Data Quality Notes

Some metrics unavailable: DepreciationAndAmortization
Note: For REITs, FFO and AFFO are the key cash metrics. Net Income is distorted by high depreciation on properties.
Note: Owner Pocket percentages are relative to AFFO (not FCF), as AFFO represents true cash available for distribution.
Note: Deleveraging - net debt repayment of $5.9M.
Note: Equity capital raised via stock issuance: $1.0M. May indicate dilution for growth or balance sheet strengthening.

Quality & Reliability Indicators

FFO Payout Ratio

14.2%

Excellent

Dividends / FFO - basic dividend safety

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Where It Leaks

Cash Flow Health healthy

Strong cash conversion with minimal leakage across profit-to-cash-to-value chain.

Active Leaks

0/1

Improving

High Impact

Critical

Low

Stock-Based Compensation Leak

Current: 11.7%

Conversion Leak

Worsening

Scores based on quantitative metrics and qualitative factors

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Rent Pricing Power

Moderate

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AFFO Strength

Moderate

Balance Sheet & Cost of Capital

Strong

Capital Recycling & Growth

Moderate

Operational Efficiency

Strong

Portfolio Quality & Diversification

Moderate

Trade-Off Ledger™

Where management spends the performance budget - Growth, Profitability, or Safety

Equity REITs vs Industry Peers 90% Coverage

Click axes to expand details. Marker shows current allocation.

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Growth

49th percentile vs peers

Key Signals

AFFO/Share 14.98 97p FFO/Share 14.98 97p Rev Growth YoY 1.4% 44p Revenue CAGR 3Y 4.4% 55p TSR -7.0% 38p

Strengths

AFFO/Share in top 20% of peers (14.98, 97th percentile)
FFO/Share in top 20% of peers (14.98, 97th percentile)
AFFO Margin in top 20% of peers (5.37, 99th percentile)

Risks

FFO Growth YoY in bottom 20% of peers (-50.1%)
AFFO YoY Growth in bottom 20% of peers (-50.1%)

Profitability

78th percentile vs peers

Key Signals

Strengths

Risks

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Safety

82th percentile vs peers

Key Signals

Strengths

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Two Futures

Scenario-based fair value ranges for Chicago Atlantic Real Estate Fi.

WACC X.X%

X%XX%

Rev CAGR 5Y X.X%

-XX%XX%

Op Margin XX.X%

-XX%XX%

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Bear

- - -

- upside

Base

$213.76

- - -

+1959.3% vs current

Snapshot base estimate

Bull

- - -

- upside

Fair Value Range Current: $-

$- $- $-

Chicago Atlantic Real Estate Fi REFI

Overview of Chicago Atlantic Real Estate Finance, Inc.

Quick Facts

Next Events

Fair Value Snapshot

Flow Steps

Money Flow Bridge

Data Quality Notes

Quality & Reliability Indicators

FFO Payout Ratio

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Stock-Based Compensation Leak

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Rent Pricing Power

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AFFO Strength

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Balance Sheet & Cost of Capital

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Capital Recycling & Growth

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Operational Efficiency

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Portfolio Quality & Diversification

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Growth

Profitability

Safety

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