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Stocks · Real estate · Real Estate Investment Trusts

Chicago Atlantic Real Estate Finance, Inc.

REFI Clue Score78
United States Fiscal year ends December CIK 0001867949
$9.35 -0.74% Close, 12 Oct 2026
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Price $9.35 −37.58% Close, 12 Oct 2026

Closing prices at the end of each trading day, from 8 Dec 2021. Not a live quote. Adjusted for share splits, so the line has no step at a split; dividends are not added back. P/E and P/FCF are the market value over the last full fiscal year's net income or free cash flow, as public on each day, so they step once a year when the annual report comes out. A hatched band marks a stretch with none: a year of net loss, or of cash burnt.

Revenue and profit

What the business sells, and what is left of it. Point at a year for the detail.
RevenueNet income
Fiscal year 2022Revenue48.9Net income32.3EPS, diluted1.82Fiscal year 2023Net income38.7 +19.9%EPS, diluted2.11 +15.9%Fiscal year 2024Net income37.0 −4.3%EPS, diluted1.88 −10.9%Fiscal year 2025Net income36.0 −2.8%EPS, diluted1.68 −10.6%
FY2022FY2023FY2024FY2025
Revenue 48.9 n/a n/a n/a
Growth
Net income 32.3 38.7 37.0 36.0
Growth +19.9% −4.3% −2.8%
EPS, diluted 1.82 2.11 1.88 1.68
Growth +15.9% −10.9% −10.6%

Margins

How much of each dollar of revenue it keeps. Point at a year for the detail.
Net margin
Fiscal year 2022Net margin66.1%Fiscal year 2023Fiscal year 2024Fiscal year 2025
FY2022FY2023FY2024FY2025
Net margin 66.1% n/a n/a n/a

Cash flow

The cash the business makes, what it reinvests, and what it hands back. Point at a year for the detail.
Operating cash flow
Fiscal year 2022Operating cash flow17.0Dividends paid−28.2Fiscal year 2023Operating cash flow28.4Dividends paid−39.1Fiscal year 2024Operating cash flow23.2Dividends paid−41.6Fiscal year 2025Operating cash flow28.8Dividends paid−43.8
FY2022FY2023FY2024FY2025
Operating cash flow 17.0 28.4 23.2 28.8
Dividends paid −28.2 −39.1 −41.6 −43.8

Balance sheet

What it holds against what it owes, at each year end. Point at a year for the detail.
CashTotal debt
Fiscal year 2022Cash5.7Total debt336.3Net cash (debt)−330.6Shareholders’ equity264.0Debt to equity1.27Fiscal year 2023Cash7.9Shareholders’ equity271.9Fiscal year 2024Cash26.4Total debt49.1Net cash (debt)−22.7Shareholders’ equity309.0Debt to equity0.16Fiscal year 2025Cash14.9Total debt49.3Net cash (debt)−34.4Shareholders’ equity307.8Debt to equity0.16
FY2022FY2023FY2024FY2025
Cash 5.7 7.9 26.4 14.9
Total debt 336.3 n/a 49.1 49.3
Net cash (debt) −330.6 n/a −22.7 −34.4
Shareholders’ equity 264.0 271.9 309.0 307.8
Debt to equity 1.27 n/a 0.16 0.16

In millions of USD, except per-share figures and ratios. Fiscal years, as last filed with the SEC.

Financial statements FY2025 · 10-K

Balance sheet

In millions of USD, except per-share figures; shares in millions. Fiscal years ending December, each column as last filed with the SEC.
Click a line to chart it
Fiscal year FY2022 31 Dec 2022 FY2023 31 Dec 2023 FY2024 31 Dec 2024 FY2025 31 Dec 2025
Assets
5.7 7.9 26.4 14.9
1.2 n/a n/a n/a
343.3 359.2 435.1 424.9
Growth +4.6% +21.1% −2.4%
Liabilities
336.3 n/a n/a n/a
n/a n/a 49.1 49.3
calc 336.3 n/a 49.1 49.3
79.2 87.4 126.2 117.1
Equity
−5.1 −5.8 −10.1 −15.5
264.0 271.9 309.0 307.8
Growth +3.0% +13.6% −0.4%
Per share and net cash
calc −330.6 n/a −22.7 −34.4
17.7 18.2 20.8 21.1
calc 14.93 14.94 14.83 14.60

Lines marked calc are worked out here from filed figures; point at one for how.