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

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