Chicago Atlantic Real Estate Finance, Inc. (REFI) P/E Ratio History
UndervaluedTrading at 6.8x vs 5Y avg 8.5x · 0th percentile · Below historical baseline · Data 2022–2026
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P/E Ratio Analysis
As of June 22, 2026, Chicago Atlantic Real Estate Finance, Inc. (REFI) trades at a price-to-earnings ratio of 6.8x, with a stock price of $11.45 and trailing twelve-month earnings per share of $1.43.
The current P/E is 20% below its 5-year average of 8.5x. Over the past five years, REFI's P/E has ranged from a low of 6.8x to a high of 18.1x, placing the current valuation at the 0th percentile of its historical range.
Compared to the Real Estate sector median P/E of 24.1x, REFI trades at a 72% discount to its sector peers. The sector includes 174 companies with P/E ratios ranging from 0.7x to 195.6x.
Relative to the broader market, REFI trades at a notable discount to the S&P 500 median P/E of 24.4x. Investors should consider the company's growth prospects, competitive position, and earnings quality when evaluating whether the current valuation is justified.
For a comprehensive intrinsic value estimate using discounted cash flow analysis, see our REFI DCF Valuation Calculator →
Note: P/E ratio is just one valuation metric. It does not account for balance sheet strength, cash flow quality, or growth sustainability. Always conduct comprehensive due diligence before making investment decisions.
REFI Cross-Benchmark Valuation
How does the current P/E compare to sector peers and the broader market?
REFI P/E vs Peers
Commercial mortgage loan REITs peers sorted by market cap
| Company | Market Cap | P/E Ratio | PEG Ratio | EPS Growth (1Y) |
|---|---|---|---|---|
| $114M | 8.9 | - | -5% | |
| $203M | 4.1Lowest | 4.04Best | +49% | |
| $2B | 15.2 | 4.05 | -29% | |
| $6B | 13.7 | 13.50 | +9% | |
| $3B | 28.3 | - | +155%Best | |
| $665M | 15.1 | - | -26% |
Lower P/E can signal a discount or weaker growth expectations; PEG adds growth context.
REFI Historical P/E Data (2022–2026)
Quarterly P/E ratios calculated from closing price and TTM EPS
| Quarter | Period End | Price | TTM EPS | P/E Ratio | vs Avg |
|---|---|---|---|---|---|
| FY2026 Q1 | - | $11.32 | $1.44 | 7.9x | -8% |
| FY2025 Q4 | Dec 31 2025 | $12.26 | $1.68 | 7.3x | -15% |
| FY2025 Q3 | - | $12.79 | $1.69 | 7.6x | -11% |
| FY2025 Q2 | Jun 30 2025 | $13.96 | $1.83 | 7.6x | -11% |
| FY2025 Q1 | Mar 31 2025 | $14.70 | $1.88 | 7.8x | -9% |
| FY2024 Q4 | - | $15.42 | $1.88 | 8.2x | -4% |
| FY2024 Q3 | Sep 30 2024 | $15.51 | $2.00 | 7.8x | -9% |
| FY2024 Q2 | Jun 30 2024 | $15.36 | $1.98 | 7.8x | -9% |
| FY2024 Q1 | Mar 31 2024 | $15.77 | $1.99 | 7.9x | -7% |
| FY2023 Q4 | Dec 31 2023 | $16.18 | $2.12 | 7.6x | -11% |
| FY2023 Q3 | Sep 30 2023 | $14.72 | $2.02 | 7.3x | -15% |
| FY2023 Q2 | Jun 30 2023 | $15.15 | $2.03 | 7.5x | -13% |
| FY2023 Q1 | Mar 31 2023 | $13.51 | $1.98 | 6.8x | -20% |
| FY2022 Q4 | Dec 31 2022 | $15.07 | $1.82 | 8.3x | -3% |
| FY2022 Q3 | Sep 30 2022 | $14.41 | $1.66 | 8.7x | +2% |
| FY2022 Q2 | - | $15.06 | $1.34 | 11.2x | +32% |
| FY2022 Q1 | - | $17.73 | $0.98 | 18.1x | +111% |
Average P/E for displayed period: 8.5x
Intrinsic Valuation
DCF models, multiple analysis, and analyst estimates.
Historical Returns
4+ years return with dividends reinvested.
DCA Calculator
See how regular investing compounds over time.
Peer Comparison
Compare growth, multiples, and margins vs sector.
REFI — Frequently Asked Questions
Quick answers to the most common questions about buying REFI stock.
What is REFI's P/E ratio?
Chicago Atlantic Real Estate Finance, Inc. (REFI) trailing twelve-month P/E ratio is 6.8x, based on TTM diluted EPS of $1.43. The 5-year average P/E is 8.5x and the historical range spans 6.8x to 18.1x.
Is REFI stock overvalued or undervalued?
REFI trades at 6.8x P/E, below its 5-year average of 8.5x. At the 0th percentile of its historical range (6.8x–18.1x), the stock is priced at a discount to its own history.
Is REFI stock expensive?
No, REFI is not expensive on a historical basis. The current P/E of 6.8x is below the 5-year average of 8.5x and sits at the 0th percentile of its valuation range.
What is REFI's historical P/E range?
Over the past 5 years, REFI's P/E ratio has ranged from 6.8x to 18.1x, with a median of 7.8x and an average of 8.5x. The current P/E of 6.8x places the stock at the 0th percentile of this range. Full historical data spans 2022–2026.
How does REFI's P/E compare to the S&P 500?
REFI trades at 6.8x P/E versus the S&P 500 median of 24.4x. The 72% discount to the market suggests lower growth expectations or perceived higher risk.
How does REFI's valuation compare to Real Estate peers?
Chicago Atlantic Real Estate Finance, Inc. P/E of 6.8x compares to the Real Estate sector median of 24.1x. The discount suggests lower growth expectations, weaker margins, or higher perceived risk relative to peers. See the peer comparison table on this page for ticker-by-ticker P/E and PEG.
What is REFI's PEG ratio?
REFI PEG ratio is N/A, based on a P/E of 6.8x and EPS growth of -10.6%. PEG normalises P/E by growth and helps compare stocks with different earnings trajectories.
What is REFI's earnings yield?
REFI earnings yield is 14.67%, the inverse of its 6.8x P/E ratio. Earnings yield represents the percentage of each dollar invested that the company earns. It can be compared directly to bond yields to assess relative attractiveness of stocks versus fixed income.