Chicago Atlantic Real Estate Finance, Inc.: valuation
Price
$8.61
November 13, 2026Market cap $221M
What Ploutos Investor adds for Chicago Atlantic Real Estate Finance
Part of Ploutos Investor, €9.99 a month
- The full history: 4 fiscal years, from 2022
- The estimated fair value, with its range and its certainty
- The full analysis, 18 a month
- More questions to the chat on its filings
- Excel with every year
- An email when it reports, changes its dividend or an officer buys
Sign in with a free account to see the last 5 fiscal years.
Notes on these figures
- The interest the company pays is far more than the debt we can read would cost, so part of its borrowing is missing from the figures. We leave out the debt, net cash, enterprise value and the multiples built on them.
- Earnings per share here are the last twelve months' earnings over today's shares, so they agree with the P/E. The number of shares changed a lot during the year, so they differ from the earnings per share the company filed, which use the year's average number of shares.
Valuation today
What the market pays for the company's earnings, cash flow, book value and revenue at $8.61 (November 13, 2026), beside the median of its past fiscal years.
Today's P/E (8.2) is 7% above the median of the chart's 3 years (7.7).
- EV / EBIT
- –
- EV / Revenue
- –
- Earnings yield
- 12.2%
- FCF yield
- 11.7%
- Market cap
- $221M
- enterprise value –
- 2025P/E7.3
- 2024P/E8.2
- 2023P/E7.7
| Year | Price | P/E | P/FCF | P/B | P/S |
|---|---|---|---|---|---|
| 2025 | $12.26 | 7.3 | – | 0.8 | – |
| 2024 | $15.42 | 8.2 | – | 1.0 | – |
| 2023 | $16.18 | 7.7 | – | 1.1 | – |
Each multiple at the closing price of the fiscal year's last trading day and the same year's figures. A year with a loss or negative free cash flow has no P/E or P/FCF.
Valuation against its own past
REFI's P/E, P/FCF and P/B at each year-end price, from 2022 to 2022, 1 more fiscal year
Part of Ploutos Investor, €9.99 a month
Sign in with a free account to see the last 4 fiscal years.
DCF calculator
What is Chicago Atlantic Real Estate Finance worth on your own assumptions?
The DCF calculator opens with the company's figures already filled in from its filings. You set how fast its cash flow grows and the return you ask for, and see the value those assumptions give.
- Free cash flow, 12 months
- $26M
- Net cash
- –
- Shares
- 25.62M
- FCF, 5-year average a year
- –
- Revenue, 5-year average a year
- –
- Price
- $8.61
The full analysis
What do Chicago Atlantic Real Estate Finance's filings show?
The multiples say what the market pays for Chicago Atlantic Real Estate Finance. The full Ploutos AI analysis reads everything the company has filed and shows what stands behind it, with a source for every figure.
- A fair value range built from the filings
- Earnings quality, debt and red flags
- Insider and institutional moves
- The case for and the case against
What is REFI's P/E?
REFI's P/E is 8.2, on earnings per share of $1.05 over the last 12 months. The median over the last 4 fiscal years was 7.9.
What is REFI's P/FCF?
REFI's P/FCF is 8.5: a market cap of $221M over $26M of free cash flow in the last 12 months. Put the other way, a free cash flow yield of 11.7%.
How do I work out what REFI is worth?
With the DCF calculator: it opens with Chicago Atlantic Real Estate Finance's figures from its filings, you enter your assumptions for growth and the return you ask for, and see the value they give. The company pages give no price target of their own. A full analysis gives a fair-value range, which is an estimate, not a target.
Related pages
The other pages on US stocks, free to read. On the company pages, the last three fiscal years are open to everyone, five with a free account, and every year with Ploutos Investor.
The figures come from the company's SEC filings and the share price, and describe what it has reported. The estimated fair value, where shown, is our estimate, labelled as one: not a fact, not a score and not a recommendation to buy or sell.