REFI vs PPIH

Comparison between Chicago Atlantic Real Estate Finance Inc (REFI, Company) and Perma-Pipe International Holdings Inc (PPIH, Company).

REFI is from the Real Estate sector, while PPIH is from the Industrials sector.

5-Year PerformancePPIH has outperformed REFI, delivering a return of +30.1% compared to +3.0%

REFI vs PPIH - Performance Comparison

Log

Key Characteristics

Financial metrics and valuation ratios

Metric	REFI(COMPANY)	PPIH(COMPANY)
Market Cap	$209M	$210M
Max Drawdown	51.71%	58.53%
Sharpe Ratio	-0.51	0.30
5Y Beta	0.41	1.63
Industry	Reit - Mortgage	Building Products & Equipment
P/E Ratio	6.79	15.06
Forward P/E	5.25	27.62
PEG Ratio	N/A	1.22
Dividend Yield	18.80%	N/A
Debt to Equity	16.28%	32.06%
Free Cash Flow Yield	11.62%	1.80%
P/S Ratio	5.06	0.98
P/B Ratio	0.82	2.12

Market Cap

REFI

$209M

Winner

PPIH

$210M

Max Drawdown

Winner

REFI

51.71%

PPIH

58.53%

Sharpe Ratio

REFI

-0.51

Winner

PPIH

0.30

5Y Beta

Winner

REFI

0.41

PPIH

1.63

Industry

REFI

Reit - Mortgage

PPIH

Building Products & Equipment

P/E Ratio

Winner

REFI

6.79

PPIH

15.06

Forward P/E

Winner

REFI

5.25

PPIH

27.62

PEG Ratio

REFI

N/A

PPIH

1.22

Dividend Yield

REFI

18.80%

PPIH

N/A

Debt to Equity

Winner

REFI

16.28%

PPIH

32.06%

Free Cash Flow Yield

Winner

REFI

11.62%

PPIH

1.80%

P/S Ratio

REFI

5.06

Winner

PPIH

0.98

P/B Ratio

Winner

REFI

0.82

PPIH

2.12

REFI vs PPIH - Historical Returns

Returns include dividend reinvestment.

Period	REFI	PPIH
1 month	-4.90%	+1.64%
3 months	-14.02%	-22.42%
6 months	-9.34%	-17.39%
1 year	-10.74%	+2.52%
5 years(CAGR)	+3.01%	+30.08%
10 years(CAGR)	N/A	+12.86%
Max(CAGR)	+3.01%	+13.97%

REFI

-4.90%

Winner

PPIH

+1.64%

Winner

REFI

-14.02%

PPIH

-22.42%

Winner

REFI

-9.34%

PPIH

-17.39%

REFI

-10.74%

Winner

PPIH

+2.52%

5Y(CAGR)

REFI

+3.01%

Winner

PPIH

+30.08%

10Y(CAGR)

REFI

N/A

PPIH

+12.86%

Max(CAGR)

REFI

+3.01%

Winner

PPIH

+13.97%

REFI vs PPIH - Annual Returns (2016 - 2026)

Returns include dividend reinvestment.

Year	REFI	PPIH
2026	-10.52%	-14.98%
2025	-9.46%	+109.52%
2024	+9.91%	+84.11%
2023	+24.48%	-14.51%
2022	+1.58%	+9.50%
2021	+0.97%	+41.14%
2020	N/A	-33.95%
2019	N/A	+6.71%
2018	N/A	-1.69%
2017	N/A	+11.80%
2016	N/A	+24.42%

REFI vs PPIH Drawdown Comparison

The maximum drawdown for REFI was -26.51%, occurring on Mar 15, 2023. Recovery took 454 trading sessions.

The maximum drawdown for PPIH was -58.53%, occurring on Nov 13, 2023. Recovery took 626 trading sessions.

The current REFI drawdown is -22.43%. The current PPIH drawdown is -26.35%.

Rank	REFI	PPIH
#1	-26.51% Feb 28, 2022 - Dec 18, 2023	-58.53% May 25, 2022 - Nov 20, 2024
#2	-24.97% Mar 3, 2025 - Jul 31, 2026	-48.00% Jun 13, 2018 - Apr 20, 2022
#3	-9.51% Jul 17, 2024 - Nov 21, 2024	-45.77% Dec 11, 2024 - Jun 13, 2025
#4	-7.26% Dec 27, 2023 - Jul 15, 2024	-34.17% Apr 14, 2026 - Jul 29, 2026
#5	-6.30% Jan 20, 2022 - Feb 28, 2022	-31.45% Sep 10, 2025 - Dec 26, 2025
#6	-3.12% Jan 21, 2025 - Feb 10, 2025	-21.41% Jan 27, 2017 - Nov 29, 2017
#7	-2.99% Feb 18, 2025 - Feb 25, 2025	-17.17% Feb 24, 2026 - Apr 13, 2026
#8	-2.97% Dec 8, 2021 - Dec 31, 2021	-15.97% Jul 22, 2025 - Aug 5, 2025
#9	-2.82% Jan 3, 2025 - Jan 17, 2025	-14.81% May 6, 2022 - May 25, 2022
#10	-2.78% Dec 5, 2024 - Jan 3, 2025	-13.81% Jan 6, 2016 - Feb 1, 2016
#11	-2.38% Dec 19, 2023 - Dec 26, 2023	-13.44% Mar 17, 2016 - May 25, 2016
#12	-1.23% Dec 2, 2024 - Dec 5, 2024	-12.43% Dec 26, 2025 - Feb 11, 2026
#13	-0.88% Feb 11, 2025 - Feb 14, 2025	-10.25% May 31, 2016 - Aug 8, 2016
#14	-0.39% Jan 11, 2022 - Jan 13, 2022	-9.77% Jan 23, 2018 - May 10, 2018
#15	-0.31% Nov 25, 2024 - Nov 29, 2024	-8.38% Dec 7, 2016 - Jan 9, 2017