Research Frontiers Incorporated (REFR)

Research Frontiers Ratios and Metrics

Market cap in millions USD. Fiscal year is January - December.

Fiscal Year	Current	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar 6, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Market Cap	34	44	58	34	63	54
Market Cap Growth	-27.24%	-23.39%	70.01%	-46.55%	16.31%	-38.65%
Enterprise Value	34.56	44.44	56.71	31.42	59.35	51.88
Last Close Price	0.98	1.31	1.71	1.01	1.91	1.72
PE Ratio	-	-21.83	-42.75	-16.83	-23.87	-28.67
PS Ratio	30.37	39.31	43.08	37.21	117.32	43.10
PB Ratio	35.32	47.21	22.09	9.62	13.20	14.39
P/TBV Ratio	35.32	47.21	22.01	9.61	12.77	14.39
P/FCF Ratio	-	-33.15	-72.79	-14.74	-28.99	-30.15
P/OCF Ratio	-	-33.16	-72.94	-14.75	-29.01	-30.17
EV/Sales Ratio	30.82	39.63	42.46	34.55	109.98	41.07
EV/EBITDA Ratio	-	-20.96	-40.06	-15.67	-22.86	-28.68
EV/EBIT Ratio	-	-20.84	-39.33	-15.45	-22.61	-28.21
EV/FCF Ratio	-	-33.41	-71.75	-13.68	-27.18	-28.74
Debt / Equity Ratio	1.09	1.09	0.45	0.02	0.06	0.12
Debt / EBITDA Ratio	-0.55	-0.55	-0.92	-0.13	-0.18	-0.36
Debt / FCF Ratio	-0.88	-0.88	-1.64	-0.12	-0.21	-0.36
Net Debt / Equity Ratio	0.54	0.54	-0.27	-0.63	-0.78	-0.63
Net Debt / EBITDA Ratio	-0.24	-0.24	0.49	1.10	1.45	1.32
Net Debt / FCF Ratio	-0.38	-0.38	0.88	0.96	1.73	1.32
Asset Turnover	0.36	0.36	0.34	0.20	0.11	0.24
Quick Ratio	3.60	3.60	9.86	12.54	15.97	12.94
Current Ratio	3.84	3.84	10.21	12.89	16.30	13.26
Return on Equity (ROE)	-115.64%	-115.64%	-42.84%	-45.90%	-62.22%	-40.53%
Return on Assets (ROA)	-67.78%	-67.78%	-36.55%	-44.12%	-52.97%	-34.23%
Return on Invested Capital (ROIC)	-127.60%	-127.60%	-89.67%	-173.82%	-215.60%	-132.67%
Return on Capital Employed (ROCE)	-74.49%	-74.49%	-39.27%	-47.08%	-56.38%	-35.98%
Earnings Yield	-6.01%	-4.58%	-2.34%	-5.94%	-4.19%	-3.49%
FCF Yield	-3.91%	-3.02%	-1.37%	-6.79%	-3.45%	-3.32%
Buyback Yield / Dilution	-	0.00%	-0.54%	-1.43%	-5.45%	-0.16%

Updated Dec 31, 2025. Data Source: Fiscal.ai. Standard template. Financial Sources.

SEC Filings: 10-K · 10-Q