Neonode Inc. (NEON) vs Research Frontiers Incorporated (REFR)

Neonode Inc. and Research Frontiers Incorporated are both Electronic Components companies. Research Frontiers Incorporated is the larger, with a market value of $26.2M against $14.8M — 1.8× the size. Research Frontiers Incorporated has negative trailing earnings, so its P/E is not meaningful; Neonode Inc. trades at 1.8×. Neonode Inc. grew revenue faster over the last twelve months: −21.7% against −46.5%. Neonode Inc. has the higher net margin (397.8% vs −343.9%) and the higher return on invested capital (0.00% vs −4,055.6%). Across the 18 metrics below, Neonode Inc. leads on 14 and Research Frontiers Incorporated on 4.

Valuation

Metric NEON REFR Electronic Components median
P/E 1.81 n/m 39.06
P/S 7.24 42.11 3.22
P/B 0.71 24.53 3.30
Price to free cash flow n/m n/m 26.65
EV/EBITDA n/m n/m 19.69
EV/Sales (3.16) 40.45 3.53
Earnings yield 55.17% (8.28%) 1.34%
Free cash flow yield (76.08%) (5.67%) 0.40%

Profitability

Metric NEON REFR Electronic Components median
Gross margin 98.82% (263.98%) 33.21%
Operating margin 345.61% (348.20%) 3.53%
Net margin 397.84% (343.94%) 2.57%
Free cash flow margin (550.51%) (238.69%) 0.20%
Return on equity 48.61% (154.03%) 2.60%
Return on assets 41.97% (79.66%) 2.50%
Return on invested capital 0.00% (4,055.56%) 2.28%

Growth

Metric NEON REFR Electronic Components median
Revenue growth (TTM) (21.65%) (46.49%) 12.01%
EPS growth (last fiscal year) 224.39% (50.00%) —
Revenue growth, 5-year CAGR (19.19%) 6.24% 7.19%
Net income growth, 5-year CAGR 0.00% 0.00% 0.00%

Health

Metric NEON REFR Electronic Components median
Debt to equity 0.00 0.00 0.16
Current ratio 10.86 3.54 2.41
Net debt to EBITDA (3.29) 0.34 0.32

Dividend

Metric NEON REFR Electronic Components median
Dividend yield — — 1.18%
Payout ratio 0.00 0.00 0.00

Size

Metric NEON REFR Electronic Components median
Market cap 14.79m 26.15m 780.25m

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