Chicago Atlantic Real Estate Finance, Inc. (REFI) Earnings History
Profitable5 years of earnings data (2021–2025) · Positive TTM net income
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Chicago Atlantic Real Estate Finance, Inc. (REFI) Earnings Overview
As of June 22, 2026, Chicago Atlantic Real Estate Finance, Inc. (REFI) reported trailing twelve-month net income of $31M, reflecting -10.6% year-over-year growth. The company earned $1.43 per diluted share over the past four quarters, with a net profit margin of 57.1%.
Looking at the long-term picture, REFI's historical earnings data spans multiple years. The company achieved its highest annual net income of $39M in fiscal 2023.
Chicago Atlantic Real Estate Finance, Inc. maintains industry-leading profitability with a gross margin of 86.9%, operating margin of 57.1%, and net margin of 57.1%. This margin structure demonstrates strong pricing power and operational efficiency. View revenue history →
Compared to peers including SUNS ($13M net income, 46.0% margin), TPVG (-$12M net income, 50.6% margin), IIPR ($120M net income, 43.0% margin), REFI has outperformed on profitability metrics. Compare REFI vs SUNS →
REFI Earnings vs Peers
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REFI Historical Earnings Data (2021–2025)
5 years| Fiscal Year | Net Income | YoY % | Operating Income | EPS (Diluted) | Net Margin | Op. Margin |
|---|---|---|---|---|---|---|
| 2025 | $36M | -2.8% | $36M | $1.68 | 57.1% | 57.1% |
| 2024 | $37M | -4.3% | $0 | $1.88 | 67.6% | 0.0% |
| 2023 | $39M | +19.9% | $0 | $2.11 | 67.5% | 0.0% |
| 2022 | $32M | +155.0% | $0 | $1.82 | 66.1% | 0.0% |
| 2021 | $13M | - | $13M | $0.54 | 87.5% | 87.5% |
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REFI — Frequently Asked Questions
Quick answers to the most common questions about buying REFI stock.
What is REFI earnings per share (EPS)?
REFI trailing twelve-month (TTM) diluted EPS is $1.43, reflecting -10.6% year-over-year growth. The 5-year EPS CAGR is N/A. Complete EPS history from 2021 to 2025 is available in the table on this page.
What is Chicago Atlantic Real Estate Finance, Inc.'s net income?
Chicago Atlantic Real Estate Finance, Inc. (REFI) trailing twelve-month net income is $31M as of 2025. Earnings declined -10.6% year-over-year. Chicago Atlantic Real Estate Finance, Inc. has been profitable for 5 consecutive years.
Is REFI profitable?
Yes, REFI is profitable with a TTM net income of $31M and a net profit margin of +57.1%. Chicago Atlantic Real Estate Finance, Inc. has generated profits for 5 consecutive years.
What is REFI's earnings growth rate?
REFI compound annual EPS growth rates (CAGR): 1-Year: -10.6%, 3-Year: -2.6%, 5-Year: N/A, 10-Year: N/A. These figures measure the annualised rate of diluted EPS growth over each period, based on data from 2021 to 2025.
What are REFI's profit margins?
Chicago Atlantic Real Estate Finance, Inc. net profit margin is +57.1%, operating margin is +57.1%, and gross margin is +86.9%. Above-average net margins reflect strong pricing power and competitive moat. Return on Equity is +11.7%.
Is REFI growing earnings?
REFI earnings are declining — EPS fell -10.6% year-over-year. TTM net income dropped to $31M. This contrasts with the 5-year CAGR of N/A.
What was REFI's best earnings year?
Chicago Atlantic Real Estate Finance, Inc.'s highest annual net income on record is $39M, achieved in fiscal year 2023. Earnings history on this page spans 2021 to 2025 and includes all annual and quarterly figures.
What were REFI's earnings last quarter?
REFI's most recent reported quarter was Q1 2026. Net income was $5M with diluted EPS of $0.23. For a full breakdown of all quarters, see the quarterly earnings table on this page.