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Research & education only — not financial advice.TENK is not a registered investment adviser; calls are impersonal, generated from SEC filings and a delayed/third-party price feed, and may be wrong or out of date. The operator and an affiliated trading operation may hold or trade the securities TENK rates — see Disclosures. Do your own research.

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TTENK/calls
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TTENK/calls
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Home›REFI›Financials
Annual statements · SEC XBRL · FY2021 – FY2025

Chicago Atlantic Real Estate Finance, Inc. (REFI) financials

Income statement

Chicago Atlantic Real Estate Finance, Inc. (REFI) income statement, annual, from SEC filings
Fiscal yearFY2021FY2022FY2023FY2024FY2025
Revenue—$48.9M———
Net income—$32.3M$38.7M$37.0M$36.0M
Net margin—66.1%———
EPS (diluted)—$1.82$2.11$1.88$1.68

Cash flow

Chicago Atlantic Real Estate Finance, Inc. (REFI) cash flow, annual, from SEC filings
Fiscal yearFY2021FY2022FY2023FY2024FY2025
Operating cash flow—$17.0M$28.4M$23.2M$28.8M
Dividends paid—$28.2M$39.1M$41.6M$43.8M

Balance sheet

Chicago Atlantic Real Estate Finance, Inc. (REFI) balance sheet, annual, from SEC filings
Fiscal yearFY2021FY2022FY2023FY2024FY2025
Cash & equivalents$80.2M$5.72M$7.90M$26.4M$14.9M
Total assets$278M$343M$359M$435M$425M
Total liabilities$14.1M$79.2M$87.4M$126M$117M
Long-term debt———$49.1M$49.3M
Shareholders' equity$264M$264M$272M$309M$308M
Retained earnings-$178K-$5.14M-$5.81M-$10.1M-$15.5M
Shares (wtd avg diluted)17.5M17.7M18.3M19.7M21.4M

Every figure is extracted from Chicago Atlantic Real Estate Finance, Inc.’s annual reports as filed with the SEC (XBRL company facts) — no third-party estimates. Fiscal years are labeled by period end; filers occasionally re-tag concepts, so a sparse cell means the company didn’t report that concept for that year. Free cash flow = operating cash flow − capital expenditures.

Common questions

Does REFI pay a dividend?
Yes — Chicago Atlantic Real Estate Finance, Inc. paid $43.8M in cash dividends during FY2025, per its SEC cash-flow statement.
Full REFI analysis — verdict, score & filings →Is REFI a buy? →

Research and education only — not financial advice. TENKis not a registered investment adviser or broker-dealer and gives no personalized advice. Every call is impersonal — identical for all users, generated on a schedule from SEC filings plus a delayed/third-party price feed — may be wrong or out of date, and is not a recommendation to buy or sell any security. The operator and an affiliated trading operation may hold or trade the securities TENK rates; see Disclosures. Past performance does not guarantee future results. Do your own research.