WallStSmart

Chicago Atlantic Real Estate Finance Inc (REFI)vsSBA Communications Corp (SBAC)

VS

Smart Verdict

WallStSmart Research — data-driven comparison

SBA Communications Corp generates 5628% more annual revenue ($2.85B vs $49.83M). REFI leads profitability with a 61.8% profit margin vs 35.7%. REFI trades at a lower P/E of 8.0x. SBAC earns a higher WallStSmart Score of 49/100 (D+).

REFI

Hold

49

out of 100

Grade: D+

Growth: 3.3Profit: 8.0Value: 6.7Quality: 4.8
Piotroski: 2/9

SBAC

Hold

49

out of 100

Grade: D+

Growth: 4.0Profit: 8.0Value: 4.7Quality: 5.0
Piotroski: 5/9Altman Z: -0.26
IV

Intrinsic Value Comparison

Multi-model valuation · Graham Formula

Intrinsic value data unavailable for REFI.

SBACUndervalued (+0.7%)

Margin of Safety

+0.7%

Fair Value

$192.34

Current Price

$208.02

$15.68 discount

UndervaluedFair: $192.34Overvalued

Key Strengths & Concerns

Side-by-side fundamental analysis

Key Strengths

REFI4 strengths · Avg: 10.0/10
P/E RatioValuation
8.0x10/10

Attractively priced relative to earnings

Price/BookValuation
0.8x10/10

Reasonable price relative to book value

Profit MarginProfitability
61.8%10/10

Keeps 62 of every $100 in revenue as profit

Operating MarginProfitability
54.3%10/10

Strong operational efficiency at 54.3%

SBAC3 strengths · Avg: 10.0/10
Profit MarginProfitability
35.7%10/10

Keeps 36 of every $100 in revenue as profit

Operating MarginProfitability
52.4%10/10

Strong operational efficiency at 52.4%

Debt/EquityHealth
-3.2410/10

Conservative balance sheet, low leverage

Areas to Watch

REFI4 concerns · Avg: 2.5/10
Market CapQuality
$244.05M3/10

Smaller company, higher risk/reward

Piotroski F-ScoreQuality
2/93/10

Weak financial health signals

Revenue GrowthGrowth
-34.2%2/10

Revenue declined 34.2%

EPS GrowthGrowth
-51.1%2/10

Earnings declined 51.1%

SBAC4 concerns · Avg: 2.3/10
Return on EquityProfitability
0.0%3/10

ROE of 0.0% — below average capital efficiency

PEG RatioValuation
8.502/10

Expensive relative to growth rate

EPS GrowthGrowth
-14.7%2/10

Earnings declined 14.7%

Altman Z-ScoreHealth
-0.262/10

Distress zone — elevated risk

Comparative Analysis Report

WallStSmart Research

Bull Case : REFI

The strongest argument for REFI centers on P/E Ratio, Price/Book, Profit Margin. Profitability is solid with margins at 61.8% and operating margin at 54.3%.

Bull Case : SBAC

The strongest argument for SBAC centers on Profit Margin, Operating Margin, Debt/Equity. Profitability is solid with margins at 35.7% and operating margin at 52.4%.

Bear Case : REFI

The primary concerns for REFI are Market Cap, Piotroski F-Score, Revenue Growth.

Bear Case : SBAC

The primary concerns for SBAC are Return on Equity, PEG Ratio, EPS Growth.

Key Dynamics to Monitor

REFI profiles as a declining stock while SBAC is a mature play — different risk/reward profiles.

SBAC carries more volatility with a beta of 0.98 — expect wider price swings.

SBAC is growing revenue faster at 5.9% — sustainability is the question.

SBAC generates stronger free cash flow (207M), providing more financial flexibility.

Bottom Line

REFI scores higher overall (49/100 vs 49/100), backed by strong 61.8% margins. Both earn "Hold" and "Hold" ratings respectively — the choice depends on your investment horizon and risk tolerance.

This analysis is generated from publicly available financial data. Not financial advice.

Chicago Atlantic Real Estate Finance Inc

REAL ESTATE · REIT - MORTGAGE · USA

Chicago Atlantic Real Estate Finance Inc. is a forward-looking Real Estate Investment Trust (REIT) dedicated to offering secure financing solutions tailored to the burgeoning cannabis sector. Through strategic portfolio management and deep industry insights, the company aims to seize substantial growth prospects within this unique market. Chicago Atlantic employs a robust risk management framework to adeptly navigate the complexities of regulatory landscapes, ensuring the generation of competitive risk-adjusted returns for institutional investors. Led by an experienced management team, the firm is focused on maximizing shareholder value while adapting to the evolving dynamics of the industry.

SBA Communications Corp

REAL ESTATE · REIT - SPECIALTY · USA

SBA Communications Corporation is a real estate investment trust which owns and operates wireless infrastructure in the United States, Canada, Central America, South America, and South Africa.

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