Chicago Atlantic Real Estate Finance, Inc. (REFI)

NASDAQ: REFI · Real-Time Price · USD

10.88

+0.20 (1.87%)

Aug 31, 2026, 4:00 PM EDT - Market closed

REFI Financials Overview

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Revenue & Profits

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun '26 Jun 30, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Revenue	48.84	54.66	55.53	56.21	44.97	14.47
Revenue Growth	-13.73%	-1.57%	-1.20%	24.99%	210.82%	-
Operating Income	29.84	35.85	37.21	38.53	32.29	12.66
Net Income	29.41	36.01	37.05	38.71	32.29	12.66
Earnings Per Share	1.36	1.68	1.88	2.11	1.82	1.96
EPS Growth	-26.02%	-10.64%	-10.90%	15.93%	-7.14%	-

Cash & Debt

Fiscal Year	Current	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun '26 Jun 30, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Cash & Investments	13.35	14.95	26.4	7.9	5.72	80.25
Total Debt	140.5	98.43	104.1	66	58	-
Net Cash (Debt)	-127.15	-83.49	-77.7	-58.1	-52.28	80.25
Net Cash Growth	-	-	-	-	-	-
Net Cash Per Share	-5.90	-3.90	-3.94	-3.17	-2.95	12.44

Cash Flow & CapEx

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun '26 Jun 30, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Operating Cash Flow	26.92	28.79	23.16	28.42	17.01	8.89
Free Cash Flow	26.92	28.79	23.16	28.42	17.01	8.89
Free Cash Flow Growth	11.63%	24.32%	-18.50%	67.11%	91.23%	-

Margins

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun '26 Jun 30, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Operating Margin	61.09%	65.58%	67.01%	68.55%	71.81%	87.51%
Pretax Margin	60.21%	65.88%	66.71%	68.87%	71.81%	87.51%
Profit Margin	60.21%	65.88%	66.71%	68.87%	71.81%	87.51%

Dividends

Fiscal Year	Current	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep '26 Sep 1, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Dividend Per Share	1.880	1.880	1.880	1.880	1.810	0.347
Dividend Per Share Growth	-8.74%	0%	0%	3.87%	422.11%	-
Dividend Yield	17.28%	16.69%	15.24%	16.56%	19.72%	3.90%

Valuation

Fiscal Year	Current	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep '26 Sep 1, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
PE Ratio	8.00	7.18	8.17	7.60	8.24	22.95
Forward PE	6.57	7.06	7.99	7.70	7.71	-
PS Ratio	5.71	4.73	5.45	5.23	5.92	20.09