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REFI's PB Ratio is ranked better than 69.8% of 914
companies
in the REITs industry
Industry Median: 0.86
vs REFI: 0.69
During the past 12 months, Chicago Atlantic Real Estate Finance's average Book Value Per Share Growth Rate was -3.20% per year.
During the past 3 years, the average Book Value Per Share Growth Rate was -0.60% per year.
During the past 5 years, the highest 3-Year average Book Value Per Share Growth Rate of Chicago Atlantic Real Estate Finance was -0.60% per year. The lowest was -0.70% per year. And the median was -0.65% per year.
The PB Ratio works the best for the businesses that earn most of their profit from their assets, e.g. banks and insurance companies.
Be Aware
Some businesses have very light assets, such as software companies or insurance agencies. The PB Ratio does not work well for these companies. Some companies even have negative equity, so the PB Ratio cannot be applied to them.
Chicago Atlantic Real Estate Finance PB Ratio Related Terms
Chicago Atlantic Real Estate Finance PB Ratio Historical Data
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Chicago Atlantic Real Estate Finance PB Ratio Chart
Chicago Atlantic Real Estate Finance Annual Data
Trend
Dec21
Dec22
Dec23
Dec24
Dec25
PB Ratio
1.10
1.01
1.08
1.04
0.84
Chicago Atlantic Real Estate Finance Quarterly Data
For the REIT - Mortgage subindustry, Chicago Atlantic Real Estate Finance's PB Ratio, along with its competitors' market caps and PB Ratio data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Chicago Atlantic Real Estate Finance PB Ratio vs REITs Industry
Chicago Atlantic Real Estate Finance PB Ratio Calculation
The PB Ratio, or Price-to-Book ratio, or Price/Book, is a financial ratio used to compare a company's market price to its Book Value per Share. It is a ratio widely used to value stocks.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
It can also be calculated from the numbers for the whole company:
A closely related ratio is called Price-to-Tangible-Book. The difference between Price-to-Tangible-Book and PB Ratio is that book value other than intangibles are used in the calculation.
Chicago Atlantic Real Estate Finance (REFI) has a PB Ratio of 0.69 as of Aug. 04, 2026. Price-to-Book ratio is the ratio of share price to a company's book value per share. View historical data on Chicago Atlantic Real Estate Finance and its competitors. This is 31% below median its historical median of 1.00. Over the past decade, Chicago Atlantic Real Estate Finance's PB Ratio has ranged from 0.68 to 1.20. According to the industry distribution chart, Chicago Atlantic Real Estate Finance ranks #276 out of 914 companies in the REITs industry, placing it in the top 30.2%.
Is Chicago Atlantic Real Estate Finance's PB Ratio too high?
Chicago Atlantic Real Estate Finance's current PB Ratio of 0.69 is 31% below median its 10-year median of 1.00. Over the past 10 years, this metric has ranged from a low of 0.68 to a high of 1.20. The REITs industry median PB Ratio is 0.86. Chicago Atlantic Real Estate Finance's value of 0.69 is 19.8% below this industry median. Based on the distribution chart, Chicago Atlantic Real Estate Finance ranks #276 out of 914 companies in the REITs industry, which is above the industry midpoint. Overall, Chicago Atlantic Real Estate Finance has a GF Score™ of 46/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Chicago Atlantic Real Estate Finance's PB Ratio compare to ACRE and RC?
According to the REITs industry distribution chart, Chicago Atlantic Real Estate Finance ranks #276 out of 914 companies for PB Ratio. This puts Chicago Atlantic Real Estate Finance in the upper half of its industry. The industry median PB Ratio is 0.86. Chicago Atlantic Real Estate Finance's value of 0.69 is 19.8% below this benchmark. Historically, Chicago Atlantic Real Estate Finance's own PB Ratio has ranged from 0.68 to 1.20 over the past decade. While the company's 10-year median is 1.00 vs. the industry median of 0.86, Chicago Atlantic Real Estate Finance has consistently been below the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good PB Ratio for a REITs company?
The median PB Ratio among REITs companies is 0.86, based on 914 companies in the industry. Companies in the top quartile (top 25%) have a PB Ratio significantly above this median, while those in the bottom quartile fall well below. However, PB Ratio should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Chicago Atlantic Real Estate Finance's current PB Ratio of 0.69 is 19.8% below the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high PB Ratio mean?
A high PB Ratio can signal that a stock is expensive relative to its fundamentals. Price-to-Book ratio is the ratio of share price to a company's book value per share. View historical data on Chicago Atlantic Real Estate Finance and its competitors. For the REITs industry, the median PB Ratio is 0.86 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Chicago Atlantic Real Estate Finance's current PB Ratio is 0.69, which is 31% below median its own 10-year median of 1.00. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Chicago Atlantic Real Estate Finance stock overvalued right now?
Based on GuruFocus' analysis, Chicago Atlantic Real Estate Finance (REFI) is currently considered Modestly Undervalued. The stock's GF Value™ is $13.73, compared to a current price of $9.99 — trading 27.3% below its estimated fair value. The current PB Ratio is 0.69, which is 31% below median its 10-year median of 1.00 and 19.8% below the REITs industry median of 0.86. Chicago Atlantic Real Estate Finance's overall GF Score™ is 46/100 with 5 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is PB Ratio calculated?
PB Ratio is calculated from a company's financial statements. For Chicago Atlantic Real Estate Finance (REFI), the current PB Ratio is 0.69 as of Aug. 04, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Chicago Atlantic Real Estate Finance (REFI) Overvalued in 2026?
Based on GuruFocus' analysis, Chicago Atlantic Real Estate Finance stock appears to be undervalued.
The current stock price of $9.99 is trading 27.3% below its estimated GF Value™ of $13.73.
GuruFocus considers Chicago Atlantic Real Estate Finance to be Modestly Undervalued.
Key valuation signals for REFI:
PB Ratio: 0.69 (31% below median its 10-year median of 1.00)
GF Value™: $13.73 vs. price of $9.99 (27.3% below fair value)
Industry Position: 19.8% below the REITs median (#276 of 914)
No single metric tells the full story. See the REFI stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Chicago Atlantic Real Estate Finance Inc is engaged in a commercial real estate finance company. The Company operates as one operating segment, and its primary investment objective is to provide attractive, risk-adjusted returns for stockholders over time, mainly through consistent current income (dividends and distributions) and secondarily, through capital appreciation. The company operates mainly within the USA itself.
46GF Score
Get the complete analysis for REFI
PB Ratio is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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