REFI
Chicago Atlantic Real Estate Finance, Inc.
REIT - Mortgage
Market Cap$258M
5Y Perf.-30.2%
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Stock Comparison
REFI vs WELL
Revenue, margins, valuation, and 5-year total return — side by side.
WELL
Welltower Inc.
REIT - Healthcare Facilities
Market Cap$151.66B
5Y Perf.+148.4%
REFI vs WELL — Key Financials
Market cap, revenue, margins, and valuation side-by-side.
| Company Snapshot | REFI | WELL |
|---|---|---|
| Industry | REIT - Mortgage | REIT - Healthcare Facilities |
| Market Cap | $258M | $151.66B |
| Revenue (TTM) | $41M | $11.63B |
| Net Income (TTM) | $36.01B | $1.43B |
| Gross Margin | 100.0% | 39.1% |
| Operating Margin | — | 4.4% |
| Forward P/E | 6.4x | 78.4x |
| Total Debt | $49.33B | $21.38B |
| Cash & Equiv. | $14.95B | $5.03B |
REFI vs WELL — Long-Term Stock Performance
Price return indexed to 100 at period start. Dividends excluded.
REFI
WELL
| Stock | Dec 21 | May 26 | Return |
|---|---|---|---|
| Chicago Atlantic Re… (REFI) | 100 | 69.8 | -30.2% |
| Welltower Inc. (WELL) | 100 | 248.4 | +148.4% |
Price return only. Dividends and distributions are not included.
Quick Verdict: REFI vs WELL
Each card shows where this stock fits in a portfolio — not just who wins on paper.
Bottom line: REFI leads in 4 of 7 categories, making it the strongest pick for valuation and capital efficiency and profitability and margin quality. Welltower Inc. is the stronger pick specifically for growth and revenue expansion and capital preservation and lower volatility. As sector peers, any of these can serve as alternatives in the same allocation.
REFI
Chicago Atlantic Real Estate Finance, Inc.
The Real Estate Income Play
REFI carries the broadest edge in this set and is the clearest fit for value and quality.
- Lower P/E (6.4x vs 78.4x)
- 871.6% margin vs WELL's 12.3%
- 100.0% yield, 1-year raise streak, vs WELL's 1.3%
Best for: value and quality
WELL
Welltower Inc.
The Real Estate Income Play
WELL is the clearest fit if your priority is income & stability and growth exposure.
- Dividend streak 2 yrs, beta 0.13, yield 1.3%
- Rev growth 35.8%, EPS growth -11.5%, 3Y rev CAGR 22.7%
- 233.9% 10Y total return vs REFI's 28.5%
Best for: income & stability and growth exposure
See the full category breakdown
| Category | Winner | Why |
|---|---|---|
| Growth | WELL | 35.8% FFO/revenue growth vs REFI's -100.0% |
| Value | REFI | Lower P/E (6.4x vs 78.4x) |
| Quality / Margins | REFI | 871.6% margin vs WELL's 12.3% |
| Stability / Safety | WELL | Beta 0.13 vs REFI's 0.69 |
| Dividends | REFI | 100.0% yield, 1-year raise streak, vs WELL's 1.3% |
| Momentum (1Y) | WELL | +45.8% vs REFI's -3.2% |
| Efficiency (ROA) | REFI | 33.8% ROA vs WELL's 2.3% |
REFI vs WELL — Revenue Breakdown by Segment
How each company's revenue is distributed across its business units
Segment breakdown not available.
FY 2025
REFI vs WELL — Financial Metrics
Side-by-side numbers across 2 stocks — who leads on profitability, valuation, growth, and risk.
BEST OVERALLWELLLAGGINGREFI
REFIChicago Atlantic Real…
1leads
WELLWelltower Inc.
3leads
6 Total Categories
CATEGORYLEADERvs REFIMETRICS WON
Income & Cash FlowRevenue, margins, and cash flow strength
WELL3/5
Valuation MetricsMultiples, price ratios, and targets
REFI4/4
Profitability & EfficiencyROE, ROIC, leverage, and quality scores
Tied
—
Total Returns1Y, 3Y, 5Y total returns with dividends
WELL6/6
Risk & VolatilityBeta, volatility, and downside exposure
WELL2/2
Analyst OutlookRatings, price targets, and dividends
Tied
—
Income & Cash Flow (Last 12 Months)
WELL leads this category, winning 3 of 5 comparable metrics.
Income & Cash Flow (Last 12 Months)
WELL is the larger business by revenue, generating $11.6B annually — 281.5x REFI's $41M. REFI is the more profitable business, keeping 871.6% of every revenue dollar as net income compared to WELL's 12.3%. On growth, WELL holds the edge at +40.3% YoY revenue growth, suggesting stronger near-term business momentum.
| Metric | REFIChicago Atlantic … | WELLWelltower Inc. |
|---|---|---|
| RevenueTrailing 12 months | $41M | $11.6B |
| EBITDAEarnings before interest/tax | $0 | $2.8B |
| Net IncomeAfter-tax profit | $36.0B | $1.4B |
| Free Cash FlowCash after capex | -$15.2B | $2.5B |
| Gross MarginGross profit ÷ Revenue | +100.0% | +39.1% |
| Operating MarginEBIT ÷ Revenue | — | +4.4% |
| Net MarginNet income ÷ Revenue | +871.6% | +12.3% |
| FCF MarginFCF ÷ Revenue | -366.7% | +21.9% |
| Rev. Growth (YoY)Latest quarter vs prior year | -100.0% | +40.3% |
| EPS Growth (YoY)Latest quarter vs prior year | -2.6% | +22.5% |
WELL leads this category, winning 3 of 5 comparable metrics.
Valuation Metrics
REFI leads this category, winning 4 of 4 comparable metrics.
Valuation Metrics
At 7.3x trailing earnings, REFI trades at a 95% valuation discount to WELL's 155.7x P/E.
| Metric | REFIChicago Atlantic … | WELLWelltower Inc. |
|---|---|---|
| Market CapShares × price | $258M | $151.7B |
| Enterprise ValueMkt cap + debt − cash | $34.6B | $168.0B |
| Trailing P/EPrice ÷ TTM EPS | 7.29x | 155.73x |
| Forward P/EPrice ÷ next-FY EPS est. | 6.41x | 78.42x |
| PEG RatioP/E ÷ EPS growth rate | — | — |
| EV / EBITDAEnterprise value multiple | — | 67.37x |
| Price / SalesMarket cap ÷ Revenue | — | 14.22x |
| Price / BookPrice ÷ Book value/share | 0.00x | 3.40x |
| Price / FCFMarket cap ÷ FCF | 0.01x | 53.25x |
REFI leads this category, winning 4 of 4 comparable metrics.
Profitability & Efficiency
Evenly matched — REFI and WELL 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 $3 for WELL. REFI carries lower financial leverage with a 0.16x debt-to-equity ratio, signaling a more conservative balance sheet compared to WELL's 0.49x. On the Piotroski fundamental quality scale (0–9), WELL scores 7/9 vs REFI's 4/9, reflecting strong financial health.
| Metric | REFIChicago Atlantic … | WELLWelltower Inc. |
|---|---|---|
| ROE (TTM)Return on equity | +46.7% | +3.5% |
| ROA (TTM)Return on assets | +33.8% | +2.3% |
| ROICReturn on invested capital | — | +0.5% |
| ROCEReturn on capital employed | — | +0.6% |
| Piotroski ScoreFundamental quality 0–9 | 4 | 7 |
| Debt / EquityFinancial leverage | 0.16x | 0.49x |
| Net DebtTotal debt minus cash | $34.4B | $16.3B |
| Cash & Equiv.Liquid assets | $14.9B | $5.0B |
| Total DebtShort + long-term debt | $49.3B | $21.4B |
| Interest CoverageEBIT ÷ Interest expense | — | 0.26x |
Evenly matched — REFI and WELL each lead in 3 of 6 comparable metrics.
Total Returns (Dividends Reinvested)
WELL leads this category, winning 6 of 6 comparable metrics.
Total Returns (Dividends Reinvested)
A $10,000 investment in WELL five years ago would be worth $31,193 today (with dividends reinvested), compared to $12,850 for REFI. Over the past 12 months, WELL leads with a +45.8% total return vs REFI's -3.2%. The 3-year compound annual growth rate (CAGR) favors WELL at 43.3% vs REFI's 9.2% — a key indicator of consistent wealth creation.
| Metric | REFIChicago Atlantic … | WELLWelltower Inc. |
|---|---|---|
| YTD ReturnYear-to-date | +3.8% | +16.2% |
| 1-Year ReturnPast 12 months | -3.2% | +45.8% |
| 3-Year ReturnCumulative with dividends | +30.2% | +194.0% |
| 5-Year ReturnCumulative with dividends | +28.5% | +211.9% |
| 10-Year ReturnCumulative with dividends | +28.5% | +233.9% |
| CAGR (3Y)Annualised 3-year return | +9.2% | +43.3% |
WELL leads this category, winning 6 of 6 comparable metrics.
Risk & Volatility
WELL leads this category, winning 2 of 2 comparable metrics.
Risk & Volatility
WELL 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. WELL currently trades 98.6% from its 52-week high vs REFI's 80.6% drawdown — a narrower gap to the peak suggests stronger recent price momentum.
| Metric | REFIChicago Atlantic … | WELLWelltower Inc. |
|---|---|---|
| Beta (5Y)Sensitivity to S&P 500 | 0.69x | 0.13x |
| 52-Week HighHighest price in past year | $15.20 | $219.59 |
| 52-Week LowLowest price in past year | $10.74 | $142.65 |
| % of 52W HighCurrent price vs 52-week peak | +80.6% | +98.6% |
| RSI (14)Momentum oscillator 0–100 | 58.1 | 57.6 |
| Avg Volume (50D)Average daily shares traded | 163K | 2.6M |
WELL leads this category, winning 2 of 2 comparable metrics.
Analyst Outlook
Evenly matched — REFI and WELL each lead in 1 of 2 comparable metrics.
Analyst Outlook
Wall Street rates REFI as "Buy" and WELL as "Buy". Consensus price targets imply 14.3% upside for REFI (target: $14) vs 4.6% for WELL (target: $227). For income investors, REFI offers the higher dividend yield at 100.00% vs WELL's 1.28%.
| Metric | REFIChicago Atlantic … | WELLWelltower Inc. |
|---|---|---|
| Analyst RatingConsensus buy/hold/sell | Buy | Buy |
| Price TargetConsensus 12-month target | $14.00 | $226.50 |
| # AnalystsCovering analysts | 6 | 34 |
| Dividend YieldAnnual dividend ÷ price | +100.0% | +1.3% |
| Dividend StreakConsecutive years of raises | 1 | 2 |
| Dividend / ShareAnnual DPS | $2045.71 | $2.76 |
| Buyback YieldShare repurchases ÷ mkt cap | 0.0% | 0.0% |
Evenly matched — REFI and WELL each lead in 1 of 2 comparable metrics.
Key Takeaway
WELL leads in 3 of 6 categories (Income & Cash Flow, Total Returns). REFI leads in 1 (Valuation Metrics). 2 tied.
Best OverallWelltower Inc. (WELL)Leads 3 of 6 categories
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REFI vs WELL: Frequently Asked Questions
10 questions · data-driven answers · updated daily
01Is REFI or WELL a better buy right now?
For growth investors, Welltower Inc.
(WELL) is the stronger pick with 35. 8% revenue growth year-over-year, versus -100. 0% for Chicago Atlantic Real Estate Finance, Inc. (REFI). Chicago Atlantic Real Estate Finance, Inc. (REFI) offers the better valuation at 7. 3x 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 — REFI or WELL?
On trailing P/E, Chicago Atlantic Real Estate Finance, Inc.
(REFI) is the cheapest at 7. 3x versus Welltower Inc. at 155. 7x. On forward P/E, Chicago Atlantic Real Estate Finance, Inc. is actually cheaper at 6. 4x.
03Which is the better long-term investment — REFI or WELL?
Over the past 5 years, Welltower Inc.
(WELL) delivered a total return of +211. 9%, compared to +28. 5% for Chicago Atlantic Real Estate Finance, Inc. (REFI). Over 10 years, the gap is even starker: WELL returned +223. 1% versus REFI's +24. 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 — REFI or WELL?
By beta (market sensitivity over 5 years), Welltower Inc.
(WELL) is the lower-risk stock at 0. 13β versus Chicago Atlantic Real Estate Finance, Inc. 's 0. 69β — meaning REFI is approximately 416% more volatile than WELL relative to the S&P 500. On balance sheet safety, Chicago Atlantic Real Estate Finance, Inc. (REFI) carries a lower debt/equity ratio of 16% versus 49% for Welltower Inc. — giving it more financial flexibility in a downturn.
05Which is growing faster — REFI or WELL?
By revenue growth (latest reported year), Welltower Inc.
(WELL) is pulling ahead at 35. 8% versus -100. 0% for Chicago Atlantic Real Estate Finance, Inc. (REFI). On earnings-per-share growth, the picture is similar: Chicago Atlantic Real Estate Finance, Inc. grew EPS -10. 6% year-over-year, compared to -11. 5% for Welltower 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 — REFI or WELL?
Chicago Atlantic Real Estate Finance, Inc.
(REFI) is the more profitable company, earning 871. 6% net margin versus 8. 8% for Welltower Inc. — meaning it keeps 871. 6% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: WELL leads at 3. 3% 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 REFI or WELL more undervalued right now?
On forward earnings alone, Chicago Atlantic Real Estate Finance, Inc.
(REFI) trades at 6. 4x forward P/E versus 78. 4x for Welltower Inc. — 72. 0x cheaper on a one-year earnings basis. Analyst consensus price targets imply the most upside for REFI: 14. 3% to $14. 00.
08Which pays a better dividend — REFI or WELL?
All stocks in this comparison pay dividends.
Chicago Atlantic Real Estate Finance, Inc. (REFI) offers the highest yield at 100. 0%, versus 1. 3% for Welltower Inc. (WELL).
09Is REFI or WELL better for a retirement portfolio?
For long-horizon retirement investors, Welltower Inc.
(WELL) 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. 3% yield, +223. 1% 10Y return). Both have compounded well over 10 years (WELL: +223. 1%, REFI: +24. 7%), 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 REFI and WELL?
Both stocks operate in the Real Estate sector, making this a peer-level intra-sector comparison — the same macro tailwinds and headwinds will affect both.
In terms of investment character: REFI is a small-cap deep-value stock; WELL is a mid-cap high-growth 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>
%
(REFI: -100.0% · WELL: 40.3%)Net Margin>
%
(REFI: 87156.2% · WELL: 12.3%)P/E Ratio<
x
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