LIEN
Chicago Atlantic BDC, Inc.
Asset Management
Market Cap$214M
5Y Perf.-33.1%
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Stock Comparison
LIEN vs REFI
Revenue, margins, valuation, and 5-year total return — side by side.
REFI
Chicago Atlantic Real Estate Finance, Inc.
REIT - Mortgage
Market Cap$258M
5Y Perf.-39.4%
LIEN vs REFI — Key Financials
Market cap, revenue, margins, and valuation side-by-side.
| Company Snapshot | LIEN | REFI |
|---|---|---|
| Industry | Asset Management | REIT - Mortgage |
| Market Cap | $214M | $258M |
| Revenue (TTM) | $54M | $41M |
| Net Income (TTM) | $33M | $36.01B |
| Gross Margin | 77.3% | 100.0% |
| Operating Margin | 63.6% | — |
| Forward P/E | 6.4x | 6.8x |
| Total Debt | $25.00B | $49.33B |
| Cash & Equiv. | $2.93B | $14.95B |
LIEN vs REFI — Long-Term Stock Performance
Price return indexed to 100 at period start. Dividends excluded.
LIEN
REFI
| Stock | Feb 22 | May 26 | Return |
|---|---|---|---|
| Chicago Atlantic BD… (LIEN) | 100 | 66.9 | -33.1% |
| Chicago Atlantic Re… (REFI) | 100 | 60.6 | -39.4% |
Price return only. Dividends and distributions are not included.
Quick Verdict: LIEN vs REFI
Each card shows where this stock fits in a portfolio — not just who wins on paper.
Bottom line: LIEN leads in 4 of 7 categories, making it the strongest pick for growth and revenue expansion and valuation and capital efficiency. Chicago Atlantic Real Estate Finance, Inc. is the stronger pick specifically for profitability and margin quality and dividend income and shareholder returns. This set spans 2 sectors — these stocks serve different portfolio roles, not just different price points.
LIEN
Chicago Atlantic BDC, Inc.
The Banking Pick
LIEN carries the broadest edge in this set and is the clearest fit for growth exposure and sleep-well-at-night.
- Rev growth 202.2%, EPS growth 57.0%
- Lower volatility, beta 0.13, Low D/E 8.2%, current ratio 0.24x
- 202.2% NII/revenue growth vs REFI's -100.0%
Best for: growth exposure and sleep-well-at-night
REFI
Chicago Atlantic Real Estate Finance, Inc.
The Real Estate Income Play
REFI is the clearest fit if your priority is income & stability and long-term compounding.
- Dividend streak 1 yrs, beta 0.69, yield 100.0%
- 28.5% 10Y total return vs LIEN's -3.7%
- Beta 0.69, yield 100.0%, current ratio 0.40x
Best for: income & stability and long-term compounding
See the full category breakdown
| Category | Winner | Why |
|---|---|---|
| Growth | LIEN | 202.2% NII/revenue growth vs REFI's -100.0% |
| Value | LIEN | Lower P/E (6.4x vs 6.8x) |
| Quality / Margins | REFI | 871.6% margin vs LIEN's 61.3% |
| Stability / Safety | LIEN | Beta 0.13 vs REFI's 0.69, lower leverage |
| Dividends | REFI | 100.0% yield, 1-year raise streak, vs LIEN's 1.0% |
| Momentum (1Y) | LIEN | +4.1% vs REFI's -3.2% |
| Efficiency (ROA) | REFI | 33.8% ROA vs LIEN's 0.0% |
LIEN vs REFI — Financial Metrics
Side-by-side numbers across 2 stocks — who leads on profitability, valuation, growth, and risk.
BEST OVERALLLIENLAGGINGREFI
REFIChicago Atlantic Real…
2leads
LIENChicago Atlantic BDC,…
2leads
6 Total Categories
CATEGORYLEADERvs REFIMETRICS WON
Income & Cash FlowRevenue, margins, and cash flow strength
REFI4/4
Valuation MetricsMultiples, price ratios, and targets
LIEN3/3
Profitability & EfficiencyROE, ROIC, leverage, and quality scores
Tied
—
Total Returns1Y, 3Y, 5Y total returns with dividends
Tied
—
Risk & VolatilityBeta, volatility, and downside exposure
LIEN2/2
Analyst OutlookRatings, price targets, and dividends
REFI2/2
Income & Cash Flow (Last 12 Months)
REFI leads this category, winning 4 of 4 comparable metrics.
Income & Cash Flow (Last 12 Months)
LIEN and REFI operate at a comparable scale, with $54M and $41M in trailing revenue. REFI is the more profitable business, keeping 871.6% of every revenue dollar as net income compared to LIEN's 61.3%.
| Metric | LIENChicago Atlantic … | REFIChicago Atlantic … |
|---|---|---|
| RevenueTrailing 12 months | $54M | $41M |
| EBITDAEarnings before interest/tax | $35M | $0 |
| Net IncomeAfter-tax profit | $33M | $36.0B |
| Free Cash FlowCash after capex | $3.0B | -$15.2B |
| Gross MarginGross profit ÷ Revenue | +77.3% | +100.0% |
| Operating MarginEBIT ÷ Revenue | +63.6% | — |
| Net MarginNet income ÷ Revenue | +61.3% | +871.6% |
| FCF MarginFCF ÷ Revenue | -377.1% | -366.7% |
| Rev. Growth (YoY)Latest quarter vs prior year | — | -100.0% |
| EPS Growth (YoY)Latest quarter vs prior year | -62.5% | -2.6% |
REFI leads this category, winning 4 of 4 comparable metrics.
Valuation Metrics
LIEN leads this category, winning 3 of 3 comparable metrics.
Valuation Metrics
At 6.4x trailing earnings, LIEN trades at a 12% valuation discount to REFI's 7.3x P/E.
| Metric | LIENChicago Atlantic … | REFIChicago Atlantic … |
|---|---|---|
| Market CapShares × price | $214M | $258M |
| Enterprise ValueMkt cap + debt − cash | $22.3B | $34.6B |
| Trailing P/EPrice ÷ TTM EPS | 6.41x | 7.29x |
| Forward P/EPrice ÷ next-FY EPS est. | 6.41x | 6.76x |
| PEG RatioP/E ÷ EPS growth rate | — | — |
| EV / EBITDAEnterprise value multiple | 645.22x | — |
| Price / SalesMarket cap ÷ Revenue | 3.93x | — |
| Price / BookPrice ÷ Book value/share | 0.00x | 0.00x |
| Price / FCFMarket cap ÷ FCF | — | 0.01x |
LIEN leads this category, winning 3 of 3 comparable metrics.
Profitability & Efficiency
Evenly matched — LIEN and REFI each lead in 3 of 6 comparable metrics.
Profitability & Efficiency
REFI delivers a 46.7% return on equity — every $100 of shareholder capital generates $47 in annual profit, vs $0 for LIEN. LIEN carries lower financial leverage with a 0.08x debt-to-equity ratio, signaling a more conservative balance sheet compared to REFI's 0.16x. On the Piotroski fundamental quality scale (0–9), REFI scores 4/9 vs LIEN's 2/9, reflecting mixed financial health.
| Metric | LIENChicago Atlantic … | REFIChicago Atlantic … |
|---|---|---|
| ROE (TTM)Return on equity | +0.0% | +46.7% |
| ROA (TTM)Return on assets | +0.0% | +33.8% |
| ROICReturn on invested capital | +0.0% | — |
| ROCEReturn on capital employed | +0.0% | — |
| Piotroski ScoreFundamental quality 0–9 | 2 | 4 |
| Debt / EquityFinancial leverage | 0.08x | 0.16x |
| Net DebtTotal debt minus cash | $22.1B | $34.4B |
| Cash & Equiv.Liquid assets | $2.9B | $14.9B |
| Total DebtShort + long-term debt | $25.0B | $49.3B |
| Interest CoverageEBIT ÷ Interest expense | 27.63x | — |
Evenly matched — LIEN and REFI each lead in 3 of 6 comparable metrics.
Total Returns (Dividends Reinvested)
Evenly matched — LIEN and REFI each lead in 3 of 6 comparable metrics.
Total Returns (Dividends Reinvested)
A $10,000 investment in REFI five years ago would be worth $12,850 today (with dividends reinvested), compared to $9,629 for LIEN. Over the past 12 months, LIEN leads with a +4.1% total return vs REFI's -3.2%. The 3-year compound annual growth rate (CAGR) favors LIEN at 16.1% vs REFI's 9.2% — a key indicator of consistent wealth creation.
| Metric | LIENChicago Atlantic … | REFIChicago Atlantic … |
|---|---|---|
| YTD ReturnYear-to-date | -6.3% | +3.8% |
| 1-Year ReturnPast 12 months | +4.1% | -3.2% |
| 3-Year ReturnCumulative with dividends | +56.6% | +30.2% |
| 5-Year ReturnCumulative with dividends | -3.7% | +28.5% |
| 10-Year ReturnCumulative with dividends | -3.7% | +28.5% |
| CAGR (3Y)Annualised 3-year return | +16.1% | +9.2% |
Evenly matched — LIEN and REFI each lead in 3 of 6 comparable metrics.
Risk & Volatility
LIEN leads this category, winning 2 of 2 comparable metrics.
Risk & Volatility
LIEN is the less volatile stock with a 0.13 beta — it tends to amplify market swings less than REFI's 0.69 beta. A beta below 1.0 means the stock typically moves less than the S&P 500.
| Metric | LIENChicago Atlantic … | REFIChicago Atlantic … |
|---|---|---|
| Beta (5Y)Sensitivity to S&P 500 | 0.13x | 0.69x |
| 52-Week HighHighest price in past year | $11.44 | $15.20 |
| 52-Week LowLowest price in past year | $9.16 | $10.74 |
| % of 52W HighCurrent price vs 52-week peak | +81.8% | +80.6% |
| RSI (14)Momentum oscillator 0–100 | 47.9 | 58.1 |
| Avg Volume (50D)Average daily shares traded | 61K | 163K |
LIEN leads this category, winning 2 of 2 comparable metrics.
Analyst Outlook
REFI leads this category, winning 2 of 2 comparable metrics.
Analyst Outlook
For income investors, REFI offers the higher dividend yield at 100.00% vs LIEN's 1.02%.
| Metric | LIENChicago Atlantic … | REFIChicago Atlantic … |
|---|---|---|
| Analyst RatingConsensus buy/hold/sell | — | Buy |
| Price TargetConsensus 12-month target | — | $14.00 |
| # AnalystsCovering analysts | — | 6 |
| Dividend YieldAnnual dividend ÷ price | +1.0% | +100.0% |
| Dividend StreakConsecutive years of raises | 0 | 1 |
| Dividend / ShareAnnual DPS | $0.10 | $2045.71 |
| Buyback YieldShare repurchases ÷ mkt cap | 0.0% | 0.0% |
REFI leads this category, winning 2 of 2 comparable metrics.
Key Takeaway
REFI leads in 2 of 6 categories (Income & Cash Flow, Analyst Outlook). LIEN leads in 2 (Valuation Metrics, Risk & Volatility). 2 tied.
Best OverallChicago Atlantic BDC, Inc. (LIEN)Leads 2 of 6 categories
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LIEN vs REFI: Frequently Asked Questions
10 questions · data-driven answers · updated daily
01Is LIEN or REFI a better buy right now?
For growth investors, Chicago Atlantic BDC, Inc.
(LIEN) is the stronger pick with 202. 2% revenue growth year-over-year, versus -100. 0% for Chicago Atlantic Real Estate Finance, Inc. (REFI). Chicago Atlantic BDC, Inc. (LIEN) offers the better valuation at 6. 4x trailing P/E (6. 4x forward), making it the more compelling value choice. Analysts rate Chicago Atlantic Real Estate Finance, Inc. (REFI) a "Buy" — based on 6 analyst ratings — the highest consensus in this comparison. The "better buy" depends entirely on your goals: growth investors should weight revenue trajectory, value investors should weight P/E and PEG, and income investors should weight dividend yield and streak.
02Which has the better valuation — LIEN or REFI?
On trailing P/E, Chicago Atlantic BDC, Inc.
(LIEN) is the cheapest at 6. 4x versus Chicago Atlantic Real Estate Finance, Inc. at 7. 3x. On forward P/E, Chicago Atlantic BDC, Inc. is actually cheaper at 6. 4x.
03Which is the better long-term investment — LIEN or REFI?
Over the past 5 years, Chicago Atlantic Real Estate Finance, Inc.
(REFI) delivered a total return of +28. 5%, compared to -3. 7% for Chicago Atlantic BDC, Inc. (LIEN). Over 10 years, the gap is even starker: REFI returned +28. 5% versus LIEN's -3. 7%. Past returns do not guarantee future results, and the stock with the higher historical return may already have its best growth priced in.
04Which is safer — LIEN or REFI?
By beta (market sensitivity over 5 years), Chicago Atlantic BDC, Inc.
(LIEN) is the lower-risk stock at 0. 13β versus Chicago Atlantic Real Estate Finance, Inc. 's 0. 69β — meaning REFI is approximately 439% more volatile than LIEN relative to the S&P 500. On balance sheet safety, Chicago Atlantic BDC, Inc. (LIEN) carries a lower debt/equity ratio of 8% versus 16% for Chicago Atlantic Real Estate Finance, Inc. — giving it more financial flexibility in a downturn.
05Which is growing faster — LIEN or REFI?
By revenue growth (latest reported year), Chicago Atlantic BDC, Inc.
(LIEN) is pulling ahead at 202. 2% versus -100. 0% for Chicago Atlantic Real Estate Finance, Inc. (REFI). On earnings-per-share growth, the picture is similar: Chicago Atlantic BDC, Inc. grew EPS 57. 0% year-over-year, compared to -10. 6% for Chicago Atlantic Real Estate Finance, Inc.. Higher growth typically commands a higher valuation multiple — check whether the premium P/E or P/S is justified by the growth rate using the PEG ratio.
06Which has better profit margins — LIEN or REFI?
Chicago Atlantic Real Estate Finance, Inc.
(REFI) is the more profitable company, earning 871. 6% net margin versus 61. 3% for Chicago Atlantic BDC, Inc. — meaning it keeps 871. 6% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: LIEN leads at 63. 6% versus 0. 0% for REFI. At the gross margin level — before operating expenses — REFI leads at 100. 0%, reflecting greater pricing power or product mix advantage. Stronger margins indicate durable pricing power, lower cost of revenue, or higher mix of software/services. They are one of the clearest signs of business quality.
07Is LIEN or REFI more undervalued right now?
On forward earnings alone, Chicago Atlantic BDC, Inc.
(LIEN) trades at 6. 4x forward P/E versus 6. 8x for Chicago Atlantic Real Estate Finance, Inc. — 0. 3x cheaper on a one-year earnings basis.
08Which pays a better dividend — LIEN or REFI?
All stocks in this comparison pay dividends.
Chicago Atlantic Real Estate Finance, Inc. (REFI) offers the highest yield at 100. 0%, versus 1. 0% for Chicago Atlantic BDC, Inc. (LIEN).
09Is LIEN or REFI better for a retirement portfolio?
For long-horizon retirement investors, Chicago Atlantic BDC, Inc.
(LIEN) is the stronger choice — it scores higher on the combination of lower volatility, dividend reliability, and long-term compounding (low volatility (β 0. 13), 1. 0% yield). Both have compounded well over 10 years (LIEN: -3. 7%, REFI: +28. 5%), confirming both are viable long-term holds — but the lower-volatility option typically results in less emotional selling during corrections. Retirement portfolios generally favour predictability over maximum returns. Consult a financial advisor before making allocation decisions.
10What are the main differences between LIEN and REFI?
These companies operate in different sectors (LIEN (Financial Services) and REFI (Real Estate)), which means they face different economic cycles, regulatory environments, and macro sensitivities — making direct comparison nuanced.
In terms of investment character: LIEN is a small-cap high-growth stock; REFI is a small-cap deep-value stock. These fundamental differences mean investors should not choose between them on a single metric — the "better stock" depends entirely on which of these characteristics aligns with your investment strategy.
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Revenue Growth>
%
(LIEN: 202.2% · REFI: -100.0%)Net Margin>
%
(LIEN: 61.3% · REFI: 87156.2%)P/E Ratio<
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