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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.

Revenue: −78.6%
EPS: 0.00%
Free cash flow: −208.1%

Quarter to September 2026, against a year earlier

0.37 0.00 0.00%

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Market cap: $12.9M
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

	Sep '26 From the 10-Q filed 5 Nov	Jun '26	Mar '26	Dec '25	Older periods
Piotroski F-Score Full definition →	2	2	2	3	+8 more TTM periods Free account
ROE Full definition →	(233.07%)	(154.03%)	(113.70%)	(115.64%)
ROA Full definition →	(104.13%)	(79.66%)	(69.89%)	(65.03%)
ROIC Full definition →	0.00%	(4,055.56%)	(300.46%)	(494.82%)
Return on Tangible Assets Full definition →	(455.31%)	(214.75%)	(140.48%)	(240.83%)
Average Days of Receivables Full definition →	219.79	116.07	285.12	133.05
Free Cash Flow per Share Full definition →	(0.05)	(0.04)	(0.04)	(0.04)
Free Cash Flow Full definition →	(1.86)	(1.56)	(1.45)	(1.33)
Capital Expenditures Full definition →	—	0.00	0.00	0.00
Other line items
Cash ROIC Full definition →	(147.96%)	(70.61%)	(47.30%)	(83.23%)
Accounts Receivable Turnover Full definition →	1.25	1.76	0.92	2.10
Accounts Payable Turnover Full definition →	25.16	29.83	44.22	24.21
Inventory Turnover Full definition →	0.00	0.00	0.00	0.00
Average Days of Payables Full definition →	24.46	20.73	14.59	18.31
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 →	142.27%	84.24%	84.74%	54.29%
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%	0.00%	41.40%
Operating CF/Net income Full definition →	0.76	0.69	0.60	0.65
Depreciation/Fixed assets Full definition →	69.87	62.62	59.48	54.91
Capex/Depreciation Full definition →	0.00	0.00	0.00	0.00
Revenue per Share Full definition →	0.01	0.02	0.02	0.03
Operating CF per Share Full definition →	(0.05)	(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 · fundamentals updated 5 Nov 2026

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