Research Frontiers Incorporated
Research Frontiers Incorporated, together with other subsidiary, engages in the development and marketing of technology and devices to control the flow of light worldwide. It develops and licenses suspended particle device (SPD-Smart) light-control technology to companies that manufacture and market the SPD-Smart chemical emulsion, light-control film made from the chemical emulsion, the light-con… Read more
Research Frontiers Incorporated (REFR) - Net Assets
Latest net assets as of September 2025: $1.50 Million USD
Based on the latest financial reports, Research Frontiers Incorporated (REFR) has net assets worth $1.50 Million USD as of September 2025.
Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets ($2.77 Million) and total liabilities ($1.27 Million). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | $1.50 Million |
| % of Total Assets | 54.15% |
| Annual Growth Rate | 0.34% |
| 5-Year Change | -51.11% |
| 10-Year Change | -71.3% |
| Growth Volatility | 184.47 |
Research Frontiers Incorporated - Net Assets Trend (1987–2024)
This chart illustrates how Research Frontiers Incorporated's net assets have evolved over time, based on quarterly financial data. Explore and compare other companies by net assets.
Annual Net Assets for Research Frontiers Incorporated (1987–2024)
The table below shows the annual net assets of Research Frontiers Incorporated from 1987 to 2024.
| Year | Net Assets | Change |
|---|---|---|
| 2024-12-31 | $2.60 Million | -25.97% |
| 2023-12-31 | $3.52 Million | -26.67% |
| 2022-12-31 | $4.80 Million | +26.77% |
| 2021-12-31 | $3.78 Million | -28.97% |
| 2020-12-31 | $5.33 Million | -24.51% |
| 2019-12-31 | $7.06 Million | +127.65% |
| 2018-12-31 | $3.10 Million | +20.73% |
| 2017-12-31 | $2.57 Million | -47.66% |
| 2016-12-31 | $4.90 Million | -45.96% |
| 2015-12-31 | $9.08 Million | -24.88% |
| 2014-12-31 | $12.08 Million | +1.79% |
| 2013-12-31 | $11.87 Million | -16.25% |
| 2012-12-31 | $14.17 Million | +245.07% |
| 2011-12-31 | $4.11 Million | -45.04% |
| 2010-12-31 | $7.47 Million | +79.40% |
| 2009-12-31 | $4.17 Million | -14.51% |
| 2008-12-31 | $4.87 Million | -33.54% |
| 2007-12-31 | $7.33 Million | +144.96% |
| 2006-12-31 | $2.99 Million | -17.93% |
| 2005-12-31 | $3.65 Million | +52.42% |
| 2004-12-31 | $2.39 Million | -56.26% |
| 2003-12-31 | $5.47 Million | -8.45% |
| 2002-12-31 | $5.97 Million | -33.98% |
| 2001-12-31 | $9.05 Million | -38.59% |
| 2000-12-31 | $14.74 Million | +55.14% |
| 1999-12-31 | $9.50 Million | +41.79% |
| 1998-12-31 | $6.70 Million | -30.21% |
| 1997-12-31 | $9.60 Million | +17.07% |
| 1996-12-31 | $8.20 Million | -16.33% |
| 1995-12-31 | $9.80 Million | +36.11% |
| 1994-12-31 | $7.20 Million | -11.11% |
| 1993-12-31 | $8.10 Million | +113.16% |
| 1992-12-31 | $3.80 Million | -19.15% |
| 1991-12-31 | $4.70 Million | +1075.00% |
| 1990-12-31 | $400.00K | -50.00% |
| 1989-12-31 | $800.00K | -46.67% |
| 1988-12-31 | $1.50 Million | -34.78% |
| 1987-12-31 | $2.30 Million | -- |
Equity Component Analysis
This analysis shows how different components contribute to Research Frontiers Incorporated's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.
Equity Composition Insights
- Retained earnings have decreased by 11987622300.0% over the analyzed period, potentially due to dividend distributions or operating losses.
Current Equity Component Breakdown (December 2024)
| Component | Amount | Percentage |
|---|---|---|
| Common Stock | $3.37K | 0.13% |
| Other Components | $128.18 Million | 4921.69% |
| Total Equity | $2.60 Million | 100.00% |
Research Frontiers Incorporated Competitors by Market Cap
The table below lists competitors of Research Frontiers Incorporated ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
374Water Inc. Common Stock
NASDAQ:SCWO
|
$26.34 Million |
|
Zhixin Group Holding Limited
PINK:ZHIXF
|
$26.34 Million |
|
kenturn Nano Tec Co Ltd
TWO:4561
|
$26.34 Million |
|
Abitibi Metals Corp
OTCQB:AMQFF
|
$26.34 Million |
|
Perintis Triniti Properti PT
JK:TRIN
|
$26.33 Million |
|
Cavatina Holding S.A.
WAR:CAV
|
$26.33 Million |
|
Aligos Therapeutics Inc
NASDAQ:ALGS
|
$26.33 Million |
|
ACC Binh Duong Investment and Construction JSC
VN:ACC
|
$26.33 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Research Frontiers Incorporated's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2023 to 2024, total equity changed from 3,517,731 to 2,604,335, a change of -913,396 (-26.0%).
- Net loss of 1,311,382 reduced equity.
- New share issuances of 300,000 increased equity.
- Other factors increased equity by 97,986.
Equity Change Factors (2023 to 2024)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | $-1.31 Million | -50.35% |
| Share Issuances | $300.00K | +11.52% |
| Other Changes | $97.99K | +3.76% |
| Total Change | $- | -25.97% |
Book Value vs Market Value Analysis
This analysis compares Research Frontiers Incorporated's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.
Valuation Insights
- Current price-to-book ratio: 12.87x
- The company is trading at a significant premium to its book value, suggesting the market values its earnings potential, brand, or other intangibles highly.
- The price-to-book ratio has increased from 1.74x to 12.87x over the analyzed period, suggesting growing market confidence.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 1987-12-31 | $0.58 | $1.00 | x |
| 1988-12-31 | $0.32 | $1.00 | x |
| 1989-12-31 | $0.18 | $1.00 | x |
| 1990-12-31 | $0.10 | $1.00 | x |
| 1991-12-31 | $0.94 | $1.00 | x |
| 1992-12-31 | $0.52 | $1.00 | x |
| 1993-12-31 | $1.08 | $1.00 | x |
| 1994-12-31 | $0.82 | $1.00 | x |
| 1995-12-31 | $1.03 | $1.00 | x |
| 1996-12-31 | $0.82 | $1.00 | x |
| 1997-12-31 | $0.94 | $1.00 | x |
| 1998-12-31 | $0.60 | $1.00 | x |
| 1999-12-31 | $0.86 | $1.00 | x |
| 2000-12-31 | $1.22 | $1.00 | x |
| 2001-12-31 | $0.75 | $1.00 | x |
| 2002-12-31 | $0.49 | $1.00 | x |
| 2003-12-31 | $0.44 | $1.00 | x |
| 2004-12-31 | $0.19 | $1.00 | x |
| 2005-12-31 | $0.27 | $1.00 | x |
| 2006-12-31 | $0.21 | $1.00 | x |
| 2007-12-31 | $0.48 | $1.00 | x |
| 2008-12-31 | $0.32 | $1.00 | x |
| 2009-12-31 | $0.26 | $1.00 | x |
| 2010-12-31 | $0.43 | $1.00 | x |
| 2011-12-31 | $0.22 | $1.00 | x |
| 2012-12-31 | $0.70 | $1.00 | x |
| 2013-12-31 | $0.52 | $1.00 | x |
| 2014-12-31 | $0.51 | $1.00 | x |
| 2015-12-31 | $0.38 | $1.00 | x |
| 2016-12-31 | $0.20 | $1.00 | x |
| 2017-12-31 | $0.11 | $1.00 | x |
| 2018-12-31 | $0.12 | $1.00 | x |
| 2019-12-31 | $0.24 | $1.00 | x |
| 2020-12-31 | $0.17 | $1.00 | x |
| 2021-12-31 | $0.12 | $1.00 | x |
| 2022-12-31 | $0.15 | $1.00 | x |
| 2023-12-31 | $0.11 | $1.00 | x |
| 2024-12-31 | $0.08 | $1.00 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Research Frontiers Incorporated utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): -50.35%
- The company may be facing challenges in efficiently utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: -98.19%
- • Asset Turnover: 0.33x
- • Equity Multiplier: 1.55x
- Recent ROE (-50.35%) is above the historical average (-64.07%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 1987 | -34.78% | -266.67% | 0.10x | 1.26x | $-1.03 Million |
| 1988 | -53.33% | -266.67% | 0.18x | 1.13x | $-950.00K |
| 1989 | -100.00% | -160.00% | 0.45x | 1.38x | $-880.00K |
| 1990 | -175.00% | -140.00% | 0.71x | 1.75x | $-740.00K |
| 1991 | -21.28% | -250.00% | 0.08x | 1.04x | $-1.47 Million |
| 1992 | -36.84% | -280.00% | 0.13x | 1.05x | $-1.78 Million |
| 1993 | -22.22% | -360.00% | 0.05x | 1.23x | $-2.61 Million |
| 1994 | -40.28% | -483.33% | 0.08x | 1.03x | $-3.62 Million |
| 1995 | -29.59% | -2900.00% | 0.01x | 1.02x | $-3.88 Million |
| 1996 | -30.49% | -2500.00% | 0.01x | 1.02x | $-3.32 Million |
| 1997 | -33.33% | -3200.00% | 0.01x | 1.04x | $-4.16 Million |
| 1998 | -38.81% | -2600.00% | 0.01x | 1.04x | $-3.27 Million |
| 1999 | -38.95% | -1850.00% | 0.02x | 1.05x | $-4.65 Million |
| 2000 | -51.35% | -2268.17% | 0.02x | 1.07x | $-9.04 Million |
| 2001 | -50.17% | -3197.61% | 0.02x | 1.03x | $-5.45 Million |
| 2002 | -66.13% | -1816.45% | 0.03x | 1.05x | $-4.55 Million |
| 2003 | -87.25% | -1848.39% | 0.05x | 1.04x | $-5.32 Million |
| 2004 | -178.19% | -2117.39% | 0.07x | 1.20x | $-4.50 Million |
| 2005 | -102.78% | -2701.08% | 0.04x | 1.09x | $-4.11 Million |
| 2006 | -110.39% | -2031.27% | 0.05x | 1.09x | $-3.60 Million |
| 2007 | -103.20% | -1880.22% | 0.05x | 1.04x | $-8.30 Million |
| 2008 | -53.26% | -154.46% | 0.32x | 1.08x | $-3.08 Million |
| 2009 | -96.10% | -563.92% | 0.16x | 1.07x | $-4.42 Million |
| 2010 | -51.86% | -504.85% | 0.10x | 1.04x | $-4.62 Million |
| 2011 | -100.65% | -488.67% | 0.19x | 1.08x | $-4.54 Million |
| 2012 | -21.62% | -156.52% | 0.14x | 1.02x | $-4.48 Million |
| 2013 | -49.24% | -270.44% | 0.18x | 1.01x | $-7.03 Million |
| 2014 | -36.53% | -276.06% | 0.13x | 1.04x | $-5.62 Million |
| 2015 | -47.16% | -213.20% | 0.21x | 1.05x | $-5.19 Million |
| 2016 | -86.41% | -342.89% | 0.23x | 1.08x | $-4.73 Million |
| 2017 | -94.02% | -159.96% | 0.52x | 1.12x | $-2.67 Million |
| 2018 | -86.66% | -180.44% | 0.37x | 1.31x | $-3.00 Million |
| 2019 | -53.98% | -243.54% | 0.19x | 1.17x | $-4.51 Million |
| 2020 | -43.94% | -282.56% | 0.13x | 1.16x | $-2.87 Million |
| 2021 | -48.79% | -146.18% | 0.28x | 1.20x | $-2.22 Million |
| 2022 | -55.65% | -494.61% | 0.10x | 1.12x | $-3.15 Million |
| 2023 | -54.25% | -209.80% | 0.24x | 1.09x | $-2.26 Million |
| 2024 | -50.35% | -98.19% | 0.33x | 1.55x | $-1.57 Million |
Industry Comparison
This section compares Research Frontiers Incorporated's net assets metrics with peer companies in the Electronic Components industry.
Industry Context
- Industry: Electronic Components
- Average net assets among peers: $42,176,553,988
- Average return on equity (ROE) among peers: -5.10%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Research Frontiers Incorporated (REFR) | $1.50 Million | -34.78% | 0.85x | $26.34 Million |
| American Aires Inc (AAIRF) | $4.68 Million | -72.64% | 0.10x | $3.94 Million |
| Alpha Technologies Group Inc (AHAG) | $18.50 Million | 22.45% | 0.88x | $0.93 |
| Allient Inc. (ALNT) | $36.32 Million | 19.18% | 0.62x | $845.72 Million |
| alpha-En Corporation (ALPE) | $94.61K | -111.43% | 1.68x | $3.62K |
| Alps Electric Co Ltd (APELY) | $190.75 Billion | 5.84% | 1.24x | $2.39 Billion |
| Amphenol Corporation (APH) | $323.41 Million | 32.15% | 2.65x | $165.03 Billion |
| AT & S Austria Technologie & Systemtechnik Aktiengesellschaft (ASAAF) | $226.29 Million | 18.25% | 1.19x | $344.33 Million |
| Audinate Group Limited (AUDGF) | $165.31 Million | -3.86% | 0.10x | $323.81 Million |
| AU Optronics Corp (AUOTY) | $212.82 Billion | 15.21% | 1.02x | $3.80 Billion |
| AVMPF (AVMPF) | $17.42 Billion | 23.89% | 2.47x | $7.28 Billion |