Sachem Capital Corp. 6.00% Notes Due 2026

SCCD

REIT - Industrial · Real Estate

Price

$24.85

-0.14 (-0.56%)

Market Cap

$1.16B

Exchange

New York Stock Exchange American

Winston Score

Winston is serious

Below-average fundamentals — multiple weak pillars.

Based on the IPO prospectus (annual filing). This score will refine automatically once the company reports its first quarters.

Data as of Aug 23, 2026 · filings through Jun 30, 2026

How the score breaks down

Quality

Strong

Growth

Weak

Cash Flow

Mixed

Stability

Mixed

Valuation

Data not available

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Share count rising — dilution

+78.1% over 4y

The company has issued more shares over this period, which dilutes each existing shareholder’s stake.

Diluted shares outstanding: 26.3M (2021) → 46.9M (2025)

Winston Score History

The full picture

Sachem Capital Corp. is a real estate finance company that lends money to real estate investors — not a traditional property owner. Its core product is short-term, high-interest loans called "hard money" loans, used by borrowers who fix up and flip houses or develop properties. It mainly serves small real estate investors across the northeastern United States, though it has expanded to other regions.

The company makes money by charging interest on the loans it issues, funded partly by selling debt securities like these 6.00% Notes due 2026. It is a Real Estate Investment Trust (REIT), meaning it must pay out most of its income as dividends to shareholders. Sachem is a relatively small lender with a market cap around $1.2 billion, and its competitive position depends on speed and flexibility rather than low rates. The main risk it faces is borrower defaults, which rise sharply when real estate markets slow down or interest rates stay high.

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

-100.0% YoY

YoY Growth Rate

Revenue declining

EPS Growth

-953.7% YoY

YoY Growth Rate

Earnings declining

R&D Spend

$0/ year

0.0% of revenue

Below sector average (1%)

Research and development spending

Insider Activity

100.0%ownership

Insiders own a meaningful stake in the company

Cash Runway

~2 years

$30M cash & investments

Quarterly Free Cash Flow

→ Burn rate stable

$30M cash & investments at current burn rate

Revenue declining

Sachem Capital Corp. 6.00% Notes Due 2026's revenue is actually shrinking. In a growth stock, that removes the core investment thesis. The low Winston Score here may be warranted — unless there's a turnaround story.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

Each metric is explained in plain language so you know exactly what you're looking at. Start your free trial now.

Quality

Profit per sale

Gross Margin

97.8%

Premium pricing power — 97.8% gross margin

Profit after running costs

Operating Margin

58.8%

Excellent — 58.8% operating margin

Return on the money invested

ROCE

6.1%

Weak — 6.1% return on capital

ROIC between 5% and 15%. They earn 5 to 15 cents back per year on every dollar invested.

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Growth

Sales growth

Sales YoY

-18.2%

Shrinking sales (-18.2% YoY)

Profit growth

EPS YoY

N/A

Data not available

How steady the profit is

EPS Consistency

N/A

Data not available

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Cash Flow

Profit that turns into cash

Cash Conversion

42%

Weak — only 42% of profit becomes cash

Spare cash per sale

FCF Margin

5.3%

Thin free cash flow (5.3%)

FCF margin between 0% and 10%. Some cash from sales, but not a lot.

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Stability

What it owes vs what it owns

Debt / Equity

1.59

Elevated debt (1.59)

Covers its interest

Interest Cover

1.09x

Dangerous — barely covers interest (1.1x)

Interest coverage between 1 and 3. Profits cover interest, but with little room to spare.

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Valuation

Price vs profit

P/E Ratio (TTM)

N/M

Negative earnings — P/E not meaningful

Cheaper or dearer next year

P/E vs Forward

N/A

not available

Data not available

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Dividends

Not applicable for this business.

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