Claros Mortgage Trust, Inc. (CMTG) vs Chicago Atlantic Real Estate Finance, Inc. (REFI)

Claros Mortgage Trust, Inc. and Chicago Atlantic Real Estate Finance, Inc. are both Reit Mortgage companies. Chicago Atlantic Real Estate Finance, Inc. is the larger, with a market value of $272.4M against $183.4M — 1.5× the size. Claros Mortgage Trust, Inc. has negative trailing earnings, so its P/E is not meaningful; Chicago Atlantic Real Estate Finance, Inc. trades at 7.7×. Chicago Atlantic Real Estate Finance, Inc. grew revenue faster over the last twelve months: −3.77% against −30.9%. Chicago Atlantic Real Estate Finance, Inc. has the higher net margin (54.6% vs −354.1%) and the higher return on invested capital (6.47% vs −0.77%). Both pay a dividend; Chicago Atlantic Real Estate Finance, Inc. yields more (13.0% vs 12.6%). Across the 20 metrics below, Chicago Atlantic Real Estate Finance, Inc. leads on 16 and Claros Mortgage Trust, Inc. on 4.

Valuation

Metric CMTG REFI Reit Mortgage median
P/E n/m 7.66 7.80
P/S 1.22 4.20 1.90
P/B 0.15 0.75 0.61
Price to free cash flow 2.79 8.40 5.90
EV/EBITDA 881.80 7.72 28.40
EV/Sales 15.26 3.95 16.02
Earnings yield (292.37%) 13.05% 7.68%
Free cash flow yield 35.80% 11.90% 11.60%

Profitability

Metric CMTG REFI Reit Mortgage median
Gross margin 80.32% 100.00% 100.00%
Operating margin (27.39%) 55.37% 35.40%
Net margin (354.13%) 54.57% 11.85%
Free cash flow margin 43.62% 49.97% 26.68%
Return on equity (35.96%) 9.61% 4.81%
Return on assets (11.15%) 6.41% 0.62%
Return on invested capital (0.77%) 6.47% 1.22%

Growth

Metric CMTG REFI Reit Mortgage median
Revenue growth (TTM) (30.92%) (3.77%) 4.70%
EPS growth (last fiscal year) (118.13%) (10.64%) —
Revenue growth, 5-year CAGR (7.25%) — 14.60%
Net income growth, 5-year CAGR 0.00% — 0.00%

Health

Metric CMTG REFI Reit Mortgage median
Debt to equity 1.81 0.00 3.30
Current ratio 0.00 0.09 1.00
Net debt to EBITDA 67.18 (0.44) 18.31

Dividend

Metric CMTG REFI Reit Mortgage median
Dividend yield 12.64% 13.02% 13.05%
Payout ratio 3.61 0.93 1.24

Size

Metric CMTG REFI Reit Mortgage median
Market cap 183.41m 272.35m 517.48m

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