Research Frontiers Incorporated
REFR Technology Electronic Components
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.
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Research Frontiers Incorporated (REFR) EV/Sales
As of 16 October 2026, Research Frontiers Incorporated (REFR) trades at a EV/Sales of 28.2×. Over the past ten years it has ranged from 8.1× (June 2018) to 198× (February 2021); the current reading is higher than 19% of that period. That is above the Electronic Components industry median of 2.9× and above the Technology sector median of 2.7×.
EV/Sales, daily
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Annual newest first
| Period | EV/Sales | Change |
|---|---|---|
| FY2025 | 38.7× | (6.53%) |
| FY2024 | 41.4× | 20.32% |
| FY2023 | 34.4× | (69.96%) |
| FY2022 | 115× | 181.53% |
| FY2021 | 40.7× | (59.72%) |
| FY2020 | 101× | 88.73% |
| FY2019 | 53.5× | 112.43% |
| FY2018 | 25.2× | 63.46% |
| FY2017 | 15.4× | (51.85%) |
| FY2016 | 32.0× | (45.46%) |
Quarterly newest first
| Period | EV/Sales | Change |
|---|---|---|
| Jun 2026 | 26.1× | (39.70%) |
| Mar 2026 | 43.2× | 11.59% |
| Dec 2025 | 38.7× | (9.26%) |
| Sep 2025 | 42.7× | (3.25%) |
| 42 more quarters | Free account |
Against its own ten years
EV/Sales against peers
| Company | EV/Sales |
|---|---|
| HOLO MicroCloud Hologram Inc. compare | −5.3× |
| NEON Neonode Inc. compare | −3.4× |
| WETH Wetouch Technology Inc. compare | −2.4× |
| DSWL Deswell Industries, Inc. compare | −0.2× |
| SELXF Semilux International Ltd. compare | n/m |
| OST Ostin Technology Group Co., Ltd. compare | 0.1× |
| ELTK Eltek Ltd. compare | 0.7× |
| DAIO Data I/O Corporation compare | 1.1× |
| REFR Research Frontiers Incorporated | 28.2× |
| Electronic Components industry median | 2.9× |
| Technology sector median | 2.7× |
| Market median | 2.1× |
What EV/Sales is
EV/Sales tells an investor how the value of a whole company, counting its debt and cash, compares with the sales it brings in.
((Stock Price × Shares (Basic, Weighted) (latest quarter)) + (Long Term Debt (Total) (latest quarter) + Current Part of Debt (latest quarter)) − Cash & Short Term Investments (latest quarter)) ÷ Revenue (TTM)