Saturday 17 October 2026 Export REFR’s income statement to Excel — free account

Research Frontiers Incorporated

Research Frontiers Incorporated’s revenue for fiscal 2025 (year ended December 2025) was $1.1 million, down 16.0% from fiscal 2024. In the quarter to June 2026, revenue fell 33.6%, EPS was flat and free cash flow fell 143.7%, each against the same quarter a year earlier.

0.56 0.08 −12.50%

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Market cap: $22.3M
P/E: 0.0×
Fwd P/E: −22.9×
Dividend yield: —
F-score: 3/9
Altman Z: −61.46
Beneish M: n/a
Dividend safety: n/a

Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios 10-Q 10-K

	Older periods	Sep '25	Dec '25	Mar '26	Jun '26
ROE Full definition →	+8 more TTM periods Free account	(87.35%)	(115.64%)	(113.70%)	(154.03%)
Piotroski F-Score Full definition →		3	3	2	2
ROA Full definition →		(65.46%)	(65.03%)	(69.89%)	(79.66%)
ROIC Full definition →		(335.77%)	(494.82%)	(300.46%)	(4,055.56%)
Return on Tangible Assets Full definition →		(133.97%)	(240.83%)	(140.48%)	(214.75%)
Average Days of Receivables Full definition →		110.60	133.05	285.12	116.07
Free Cash Flow per Share Full definition →		(0.02)	(0.04)	(0.04)	(0.04)
Free Cash Flow Full definition →		(0.82)	(1.33)	(1.45)	(1.56)
Capital Expenditures Full definition →		0.00	0.00	0.00	0.00
Other line items
Cash ROIC Full definition →		(31.09%)	(83.23%)	(47.30%)	(70.61%)
Accounts Receivable Turnover Full definition →		1.73	2.10	0.92	1.76
Accounts Payable Turnover Full definition →		81.27	24.21	44.22	29.83
Inventory Turnover Full definition →		0.00	0.00	0.00	0.00
Average Days of Payables Full definition →		4.12	18.31	14.59	20.73
Days of Inventory on Hand Full definition →		0.00	0.00	0.00	0.00
Tax Rate Full definition →		0.00	0.00	0.00	0.00
Research and Development Expense of Revenue Full definition →		51.65%	54.29%	84.74%	84.24%
Selling, General and Administrative Expense of Revenue Full definition →		0.00%	0.00%	0.00%	0.00%
Share Based Compensation of Revenue Full definition →		33.34%	41.40%	0.00%	0.00%
Operating CF/Net income Full definition →		0.43	0.65	0.60	0.69
Depreciation/Fixed assets Full definition →		43.23	54.91	59.48	62.62
Capex/Depreciation Full definition →		(0.01)	0.00	0.00	0.00
Revenue per Share Full definition →		0.04	0.03	0.02	0.02
Operating CF per Share Full definition →		(0.02)	(0.04)	(0.04)	(0.04)
Capex per Share Full definition →		0.00	0.00	0.00	0.00
Capex to Sales Full definition →		0.00	0.00	0.00	0.00

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Columns are period end dates

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