A Business at a Glance
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RESEARCH FRONTIERS INC
REFR
$16M
Mkt Cap
$0.46
-3.85%
RESEARCH FRONTIERS INC (REFR) has a 5-year average return on invested capital (ROIC) of -70.3%. This is below average and may indicate limited pricing power.
RESEARCH FRONTIERS INC (REFR) has a market capitalization of $16M. It is classified as a small-cap stock.
RESEARCH FRONTIERS INC (REFR) does not currently pay a regular dividend.
RESEARCH FRONTIERS INC (REFR) operates in the Patent Owners & Lessors industry, within the Financials sector.
RESEARCH FRONTIERS INC (REFR) reported annual revenue of $1 million in its most recent fiscal year, based on SEC EDGAR filings.
RESEARCH FRONTIERS INC (REFR) has a net profit margin of -182.4%. The company is currently unprofitable.
RESEARCH FRONTIERS INC (REFR) generated $-1 million in free cash flow in its most recent fiscal year. Negative free cash flow may indicate heavy investment or operational challenges.
RESEARCH FRONTIERS INC operates in the Patent Owners & Lessors industry, Financials sector. Full business description from SEC filing not yet available.
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 698K | 1.1M | 1.3M | - | - | 1.3M |
| Net Income | -2.4M | -2.0M | -1.3M | -1.9M | -2.7M | -1.8M |
| EPS | $-0.07 | $-0.06 | $-0.04 | $-0.06 | $-0.08 | $-0.06 |
| Free Cash Flow | -1.4M | -1.3M | -790K | -2.3M | -2.2M | -1.8M |
| ROIC | -379.8% | -180.4% | -43.7% | -45.7% | -43.2% | -38.4% |
| Gross Margin | - | - | 4.9% | - | - | - |
| Debt/Equity | 0.00 | 1.41 | 0.55 | 0.09 | 0.12 | 0.20 |
| Dividends/Share | $0.00 | $0.00 | - | - | - | - |
| Operating Income | -2.4M | -2.1M | -1.4M | -2.0M | -2.6M | -1.8M |
| Operating Margin | -347.2% | -190.2% | -108.0% | - | - | -145.6% |
| ROE | -134.2% | -115.6% | -42.8% | -45.9% | -62.2% | -40.5% |
| Shares Outstanding | 35M | 34M | 33M | 32M | 33M | 31M |
| Metric | 2015 | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | |||||||||||||
| Revenue | N/A | N/A | N/A | 1.5M | 1.5M | N/A | N/A | 1.3M | N/A | N/A | 1.3M | 1.1M | 698K |
| Gross Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 4.9% | N/A | N/A |
| R&D | 1.6M | 1.6M | 1.4M | 800K | 863K | 1.0M | 628K | 580K | 609K | 583K | 570K | 609K | 591K |
| SG&A | 4.4M | 4.7M | 4.1M | 3.1M | N/A | N/A | N/A | N/A | N/A | 189K | 176K | 338K | 338K |
| EBIT | -4.4M | -4.3M | -4.3M | -2.4M | -2.4M | -3.1M | -2.6M | -1.8M | -2.6M | -2.0M | -1.4M | -2.1M | -2.4M |
| Op. Margin | N/A | N/A | N/A | -160.3% | -162.4% | N/A | N/A | -145.6% | N/A | N/A | -108.0% | -190.2% | -347.2% |
| Net Income | -4.4M | -4.3M | -4.2M | -2.4M | -2.7M | -3.8M | -2.3M | -1.8M | -2.7M | -1.9M | -1.3M | -2.0M | -2.4M |
| Net Margin | N/A | N/A | N/A | -160.0% | -180.4% | N/A | N/A | -146.2% | N/A | N/A | -98.2% | -182.4% | -343.0% |
| Non-Recurring | 0 | 0 | -2K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Returns on Capital | |||||||||||||
| ROIC | -35.4% | -45.3% | -68.7% | -74.4% | -61.6% | -35.3% | -38.2% | -38.4% | -43.2% | -45.7% | -43.7% | -180.4% | N/M |
| ROE | N/A | N/A | -60.6% | -64.6% | -94.8% | -75.0% | -37.8% | -40.5% | -62.2% | -45.9% | -42.8% | -115.6% | -134.2% |
| ROA | -35.9% | -38.7% | -57.2% | -59.2% | -77.4% | -61.9% | -32.4% | -34.4% | -53.9% | -41.4% | -33.2% | -65.0% | -77.7% |
| Cash Flow | |||||||||||||
| Op. Cash Flow | -3.3M | -3.6M | -4.0M | -1.5M | -2.1M | -2.1M | -2.3M | -1.8M | -2.2M | -2.3M | -789K | -1.3M | -1.4M |
| Free Cash Flow | -4.0M | -3.9M | -4.0M | -1.5M | -2.1M | -2.1M | -2.3M | -1.8M | -2.2M | -2.3M | -790K | -1.3M | -1.4M |
| Owner Earnings | -4.4M | -4.4M | -4.3M | -1.7M | -2.3M | -3.1M | -2.6M | -2.1M | -2.4M | -2.5M | -893K | -1.7M | -1.8M |
| CapEx | 628K | 316K | 12K | 7K | 12K | 65K | 57K | 1K | 1K | 2K | 2K | 0 | 0 |
| Maint. CapEx | 32K | 140K | 189K | 176K | 181K | 195K | 67K | 30K | 29K | 15K | 15K | 11K | 9K |
| Growth CapEx | 596K | 176K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| D&A | 32K | 140K | 189K | 176K | 181K | 195K | 67K | 30K | 29K | 15K | 15K | 11K | 9K |
| CapEx/OCF | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0.0% |
| Capital Allocation | |||||||||||||
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividend Yield | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Buyback Yield | 0.0% | N/A | N/A | N/A | N/A | N/A | 0.0% | N/A | N/A | N/A | N/A | 0.0% | 0.0% |
| Stock-Based Comp | 1.0M | 725K | 68K | 76K | 69K | 842K | 328K | 217K | 232K | 145K | 89K | 375K | 348K |
| Debt Repayment | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Balance Sheet | |||||||||||||
| Net Debt | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | -1.3M |
| Cash & Equiv. | 7.6M | 5.7M | 1.7M | 1.7M | 3.0M | 6.6M | 4.8M | 270K | 4.2M | 2.5M | 2.0M | 664K | 1.3M |
| Long-Term Debt | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Debt/Equity | N/A | N/A | 0.08 | 0.12 | 0.31 | 0.17 | 0.16 | 0.20 | 0.12 | 0.09 | 0.55 | 1.41 | 0.00 |
| Interest Coverage | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | -10.8 | -8.2 | -6.3 | -6.3 |
| Equity | N/A | N/A | 4.9M | 2.6M | 3.1M | 7.1M | 5.3M | 3.8M | 4.8M | 3.5M | 2.6M | 934K | 1.8M |
| Total Assets | 13M | 9.5M | 5.3M | 2.9M | 4.1M | 8.3M | 6.2M | 4.5M | 5.4M | 3.9M | 4.0M | 2.3M | 3.1M |
| Total Liabilities | N/A | N/A | 369K | 314K | 959K | 1.2M | 872K | 762K | 570K | 333K | 1.4M | 1.3M | 1.3M |
| Intangibles | 0 | N/A | N/A | N/A | N/A | N/A | 0 | N/A | N/A | N/A | N/A | 0 | 0 |
| Retained Earnings | -98M | -102M | -107M | -109M | -112M | -115M | -118M | -120M | -122M | -124M | -126M | -128M | -128M |
| Working Capital | 0 | 8.2M | 4.2M | 2.1M | 3.3M | 6.9M | 0 | 3.7M | 4.6M | 3.3M | 2.5M | 0 | 0 |
| Current Assets | 0 | 8.7M | 4.6M | 2.4M | 3.7M | 7.3M | 0 | 3.9M | 4.9M | 3.6M | 2.7M | 0 | 0 |
| Current Liabilities | 0 | 468K | 369K | 314K | 458K | 387K | 0 | 298K | 302K | 277K | 269K | 0 | 0 |
| Per Share Data | |||||||||||||
| EPS | -0.19 | -0.18 | -0.18 | -0.10 | -0.10 | -0.13 | -0.07 | -0.06 | -0.08 | -0.06 | -0.04 | -0.06 | -0.07 |
| Owner EPS | -0.19 | -0.19 | -0.18 | -0.07 | -0.09 | -0.11 | -0.08 | -0.07 | -0.07 | -0.08 | -0.03 | -0.05 | -0.05 |
| Book Value | N/A | N/A | 0.21 | 0.11 | 0.12 | 0.24 | 0.16 | 0.12 | 0.14 | 0.11 | 0.08 | 0.03 | 0.05 |
| Cash Flow/Share | -0.14 | -0.15 | -0.17 | -0.06 | -0.08 | -0.07 | -0.07 | -0.06 | -0.07 | -0.07 | -0.02 | -0.04 | -0.07 |
| Dividends/Share | 0.00 | N/A | N/A | N/A | N/A | N/A | 0.00 | N/A | N/A | N/A | N/A | 0.00 | 0.00 |
| Shares Out. | 23.2M | 23.8M | 23.5M | 24.1M | 26.9M | 29.3M | 33.4M | 30.8M | 33.4M | 31.8M | 32.8M | 34.1M | 34.9M |
| Valuation | |||||||||||||
| P/E Ratio | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | -6.5 |
| P/FCF | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| EV/EBIT | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Price/Book | N/A | N/A | 8.6 | 9.6 | 11.9 | 12.7 | N/A | 15.1 | 13.3 | 8.8 | 20.5 | N/A | 9.0 |
| Price/Sales | N/A | N/A | N/A | 21.1 | 19.8 | N/A | N/A | 71.8 | N/A | N/A | 42.3 | N/A | 23.1 |
| FCF Yield | N/A | -3.1% | -9.5% | -6.0% | -5.7% | -2.4% | N/A | -3.2% | -3.4% | -7.4% | -1.5% | N/A | -9.0% |
| Market Cap | 0 | 127M | 42M | 25M | 37M | 90M | 0 | 57M | 64M | 31M | 53M | 0 | 16M |
| Avg. Price | 0.00 | 5.35 | 3.50 | 1.32 | 1.10 | 3.03 | 0.00 | 2.71 | 1.99 | 1.54 | 1.72 | 0.00 | 0.46 |
| Year-End Price | 0.00 | 5.33 | 1.79 | 1.02 | 1.37 | 3.07 | 0.00 | 1.70 | 1.91 | 0.97 | 1.63 | 0.00 | 0.46 |
RESEARCH FRONTIERS INC passes 0 of 9 quality checks, indicating weak fundamentals.
The company's 5-year average gross margin is 4.9%.
RESEARCH FRONTIERS INC (REFR) has a debt-to-equity ratio of 1.41. This indicates moderate leverage.
RESEARCH FRONTIERS INC (REFR) reported earnings per share (EPS) of $-0.06 in its most recent fiscal year.
RESEARCH FRONTIERS INC (REFR) has a return on equity (ROE) of -115.6%. A negative ROE may indicate losses or negative equity.
RESEARCH FRONTIERS INC (REFR) has a 5-year average gross margin of 4.9%. This lower margin is typical of capital-intensive or commodity businesses.
The Ledger Terminal provides 17 years of financial data for RESEARCH FRONTIERS INC (REFR), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
RESEARCH FRONTIERS INC (REFR) has a book value per share of $0.03, based on its most recent annual SEC filing.