COMP <GO>
REFI vs AIV // EV/EBITDA & P/E VALUATION
Chicago Atlantic Real Estate Finance Inc. (NASDAQ) VS. Apartment Investment and Management Company (NYSE) • 15-METRIC TALLY: REFI 2
— AIV 3
■ METRIC PARITY
LAST: $8.96 (-0.88%) • MKT CAP: $229.6M
valuation
—
LAST: $1.64 (+1.86%) • MKT CAP: $238.2M
valuation
—
15-METRIC INSTITUTIONAL SIDE-BY-SIDE SCORECARD (REFI VS. AIV)
EMERALD CELL = QUANTITATIVE EDGE
| INSTITUTIONAL METRIC | REFI | AIV | SPREAD (A - B) | ADVANTAGE | DEDICATED URL |
|---|---|---|---|---|---|
| Gross Profit Margin | — | — | — | TIE | /gross-margins <GO> |
| Return on Invested Capital (ROIC) | 11.70% | 85.00% | -73.30 | AIV | /roic <GO> |
| EV/EBITDA & P/E Valuation ACTIVE | — | — | — | TIE | /valuation <GO> |
| Free Cash Flow Yield | 12.54% | 3.40% | +9.14 | REFI | /fcf-yield <GO> |
| Operating Margin | — | — | — | TIE | /operating-margins <GO> |
| Net Profit Margin | — | 68.00% | — | TIE | /net-margins <GO> |
| Revenue Growth (YoY) | — | 0.60% | — | TIE | /revenue-growth <GO> |
| Dividend Yield & FCF Payout Safety | 0.00% | 0.00% | 0.00 | TIE | /dividend-safety <GO> |
| Altman Z-Score & Debt/Equity | — | — | — | TIE | /balance-sheet <GO> |
| Piotroski F-Score Quality | 3/9 | 4/9 | -1.00 | AIV | /piotroski-score <GO> |
| Options Implied Move & Put/Call Skew | — | — | — | TIE | /options-implied-move <GO> |
| RSI-14 & 200D SMA Momentum | 31.9 | 23.8 | +8.02 | REFI | /rsi-technicals <GO> |
| 10Y Yield & FRED Macro Beta | — | — | — | TIE | /macro-sensitivity <GO> |
| Forward P/E Multiple | 6.0x | — | — | TIE | /forward-pe <GO> |
| Enterprise Scale & Market Cap | $229.6M | $238.2M | -$8.6M | AIV | /market-cap <GO> |
5-YEAR HISTORICAL XBRL REVENUE & MARGIN TRAJECTORY SEC FORM 10-K FY
| FISCAL YEAR | REFI REV | AIV REV | REFI GROSS % | AIV GROSS % | REFI FCF | AIV FCF |
|---|---|---|---|---|---|---|
| FY 2025 | $0 | $138.5M | — | — | $28.8M | $8.1M |
| FY 2024 | $0 | $137.7M | — | — | $23.2M | $47.0M |
| FY 2023 | $0 | $119.9M | — | — | $28.4M | $50.5M |
FRED MACRO REGIME CORRELATION COMPARISON PEARSON r
REFI // BETA —
AIV // BETA —