For the twelve months ended Jun 30, 2026, Chicago Atlantic Real Estate Finance Inc. reported $61.71M of revenue and $29.41M of net income.
REFI revenue was $15.22M in fiscal Q2 2026 (ended Jun 30, 2026), down 7.8% from a year earlier and up 0.4% from the prior quarter. For the full fiscal 2025 it was $62.94M, up 1.3% from fiscal 2024. It rose in 2 of the last 3 fiscal years.
REFI net income was $7.47M in fiscal Q2 2026 (ended Jun 30, 2026), down 15.8% from a year earlier and up 54.4% from the prior quarter. For the full fiscal 2025 it was $36.01M, down 2.8% from fiscal 2024. It rose in 1 of the last 3 fiscal years.
REFI diluted EPS was $0.34 in fiscal Q2 2026 (ended Jun 30, 2026), down 17.1% from a year earlier and up 47.8% from the prior quarter. For the full fiscal 2025 it was $1.68, down 10.6% from fiscal 2024.
| Line item | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 |
|---|---|---|---|---|
| Revenue | $62.94M | $62.10M | $62.90M | $48.86M |
| Selling, general and admin | $5.30M | $5.39M | $5.26M | $3.53M |
| Interest expense | - | - | $5.75M | $2.61M |
| Pre-tax income | $36.01M | $37.05M | $38.71M | $32.29M |
| Income tax | $0 | $0 | $0 | $0 |
| Net income | $36.01M | $37.05M | $38.71M | $32.29M |
| EPS, basic | $1.71 | $1.92 | $2.14 | $1.83 |
| EPS, diluted | $1.68 | $1.88 | $2.11 | $1.82 |
| Diluted shares | 21.4M | 19.7M | 18.3M | 17.7M |
| Line item | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 |
|---|---|---|---|---|
| Cash and equivalents | $14.95M | $26.40M | $7.90M | $5.72M |
| Inventory | - | - | - | $1.20M |
| Total assets | $424.92M | $435.15M | $359.23M | $343.27M |
| Short-term debt | - | - | $284.50M | $281.60M |
| Total debt | $49.33M | $49.10M | - | - |
| Total liabilities | $117.10M | $126.19M | $87.37M | $79.24M |
| Shareholders' equity | $307.81M | $308.96M | $271.85M | $264.03M |
| Line item | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 |
|---|---|---|---|---|
| Operating cash flow | $28.79M | $23.16M | $28.42M | $17.01M |
| Investing cash flow | $8.74M | -$39.30M | -$1.93M | -$125.24M |
| Financing cash flow | -$48.98M | $34.64M | -$24.31M | $33.71M |
| Dividends paid | $43.84M | $41.63M | $39.13M | $28.17M |
| Stock-based compensation | $3.37M | $3.06M | $1.48M | $435.6K |
| Line item | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 |
|---|---|---|---|---|
| Revenue growth, YoY | 1.3% | -1.3% | 28.7% | - |
| Net income growth, YoY | -2.8% | -4.3% | 19.9% | - |
| EPS growth, YoY | -10.6% | -10.9% | 15.9% | - |
| Net margin | 57.2% | 59.7% | 61.5% | 66.1% |
| Return on equity | 11.7% | 12.0% | 14.2% | 12.2% |
| Return on assets | 8.5% | 8.5% | 10.8% | 9.4% |
| Debt to equity | 0.16 | 0.16 | - | - |
| Line item | Jun 30, 2026 | Mar 31, 2026 | Dec 31, 2025 | Sep 30, 2025 | Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $15.22M | $15.16M | $16.08M | $15.25M | $16.50M | $15.11M | $15.48M | $16.26M | $15.02M | $15.34M | $16.53M | $15.18M |
| Selling, general and admin | $1.53M | $1.15M | $1.54M | $1.30M | $1.27M | $1.20M | $1.49M | $1.25M | $1.25M | $1.39M | $1.43M | $1.25M |
| Interest expense | - | - | - | - | - | - | - | $1.80M | $1.84M | $2.10M | $1.69M | $1.45M |
| Pre-tax income | $7.47M | $4.84M | $8.16M | $8.93M | $8.88M | $10.04M | $7.92M | $11.21M | $9.18M | $8.73M | $9.40M | $9.98M |
| Income tax | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Net income | $7.47M | $4.84M | $8.16M | $8.93M | $8.88M | $10.04M | $7.92M | $11.21M | $9.18M | $8.73M | $9.40M | $9.98M |
| EPS, basic | $0.35 | $0.23 | $0.39 | $0.42 | $0.42 | $0.48 | $0.40 | $0.57 | $0.47 | $0.48 | $0.51 | $0.55 |
| EPS, diluted | $0.34 | $0.23 | $0.38 | $0.42 | $0.41 | $0.47 | $0.39 | $0.56 | $0.46 | $0.47 | $0.50 | $0.54 |
| Diluted shares | 21.7M | 21.5M | - | 21.5M | 21.5M | 21.3M | - | 20.1M | 19.9M | 18.6M | - | 18.6M |
| Line item | Jun 30, 2026 | Mar 31, 2026 | Dec 31, 2025 | Sep 30, 2025 | Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $13.35M | $27.86M | $14.95M | $28.92M | $35.56M | $9.88M | $26.40M | $6.76M | $7.07M | $6.90M | $7.90M | $8.70M |
| Total assets | $461.70M | $435.95M | $424.92M | $427.08M | $455.21M | $414.67M | $435.15M | $365.91M | $386.49M | $383.65M | $359.23M | $352.31M |
| Short-term debt | - | - | - | - | - | - | - | $220.20M | $291.40M | $287.70M | $284.50M | $274.40M |
| Total debt | $49.45M | $49.39M | $49.33M | $49.27M | $49.22M | $49.16M | $49.10M | $54.00M | $76.75M | - | - | - |
| Total liabilities | $160.05M | $132.53M | $117.10M | $117.16M | $145.19M | $103.89M | $126.19M | $70.45M | $93.77M | $97.69M | $87.37M | $76.52M |
| Shareholders' equity | $301.65M | $303.42M | $307.81M | $309.91M | $310.03M | $310.78M | $308.96M | $295.47M | $292.72M | $285.96M | $271.85M | $275.79M |
| Line item | Jun 30, 2026 | Mar 31, 2026 | Dec 31, 2025 | Sep 30, 2025 | Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $9.06M | $3.16M | $6.52M | $8.19M | $6.46M | $7.63M | $1.83M | $8.20M | $6.21M | $6.92M | $15.50M | $1000.0K |
| Investing cash flow | -$36.65M | $1.73M | -$7.28M | $14.06M | -$3.56M | $5.51M | -$41.27M | $23.54M | -$2.86M | -$18.72M | -$10.74M | -$21.70M |
| Financing cash flow | $13.09M | $8.01M | -$13.22M | -$28.89M | $22.77M | -$29.65M | $59.08M | -$32.05M | -$3.19M | $10.81M | -$5.57M | $11.38M |
| Dividends paid | $10.91M | $9.91M | $9.91M | $9.91M | $10.43M | $13.61M | $9.27M | $9.26M | $9.24M | $13.87M | $8.57M | $8.56M |
| Stock-based compensation | $957.6K | $865.4K | $909.8K | $928.7K | $881.1K | $649.3K | $845.5K | $845.5K | $836.3K | $531.3K | $537.1K | $540.4K |
| Line item | Jun 30, 2026 | Mar 31, 2026 | Dec 31, 2025 | Sep 30, 2025 | Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue growth, YoY | -7.8% | 0.4% | 3.9% | -6.2% | 9.8% | -1.5% | -6.4% | 7.1% | 9.9% | 2.9% | 12.0% | 17.4% |
| Net income growth, YoY | -15.8% | -51.8% | 3.0% | -20.3% | -3.3% | 15.0% | -15.7% | 12.4% | 6.3% | -18.4% | 29.5% | 2.1% |
| EPS growth, YoY | -17.1% | -51.1% | -2.6% | -25.0% | -10.9% | 0.0% | -22.0% | 3.7% | -2.1% | -21.7% | 22.0% | -1.8% |
| Net margin | 49.1% | 31.9% | 50.7% | 58.6% | 53.8% | 66.5% | 51.2% | 69.0% | 61.1% | 56.9% | 56.9% | 65.7% |
| Debt to equity | 0.16 | 0.16 | 0.16 | 0.16 | 0.16 | 0.16 | 0.16 | 0.18 | 0.26 | - | - | - |
Source: XBRL data Chicago Atlantic Real Estate Finance Inc. files with the SEC, latest filing dated Aug 11, 2026 (see filings on SEC EDGAR). Provided for information only, not investment advice. Check the filing before relying on a number.
* Worked out from the filings rather than stated in them: Q4 is the full year less the first nine months.
Per-share figures are as filed. The filings show no stock split in these periods.
EPS growth is left out where the share count moved enough to suggest a split the filings do not show. Growth rates need a positive starting figure. CAGR is compound annual growth between fiscal years. The CSV holds every period on file, in full figures, from the same SEC filings.
| Company | Revenue | Growth | Net income | Net margin | Market cap |
|---|---|---|---|---|---|
| REFI | $61.71M | -2.6% | $29.41M | 47.7% | $227.0M |
| WELL | $13.79B | +39.2% | $1.67B | 12.1% | $181.46B |
| PLD | $8.95B | +6.7% | $3.71B | 41.5% | $124.09B |
| EQIX | $10.06B | +11.1% | $1.65B | 16.4% | $104.38B |
| AMT | $11.01B | +5.3% | $3.31B | 30.1% | $87.65B |
| SPG | $7.15B | +16.2% | $4.51B | 63.0% | $75.39B |
| DLR | $6.34B | +12.6% | $1.38B | 21.7% | $68.13B |
| PSA | $5.03B | +5.2% | $1.90B | 37.8% | $63.18B |
| O | $6.21B | +10.8% | $1.36B | 21.8% | $56.58B |