Research Frontiers (Research Frontiers) EBIT

: $-2.03 Mil (TTM As of Dec. 2023)

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Research Frontiers's earnings before interest and taxes (EBIT) for the three months ended in Dec. 2023 was $-0.51 Mil. Its earnings before interest and taxes (EBIT) for the trailing twelve months (TTM) ended in Dec. 2023 was $-2.03 Mil.

EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Research Frontiers's annualized ROC % for the quarter that ended in Dec. 2023 was -164.29%. Research Frontiers's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2023 was -172.43%.

EBIT is also linked to Joel Greenblatt's definition of earnings yield. Research Frontiers's Earnings Yield (Joel Greenblatt) % for the quarter that ended in Dec. 2023 was -4.17%.

Research Frontiers EBIT Historical Data

The historical data trend for Research Frontiers's EBIT can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

* Premium members only.

Research Frontiers Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

EBIT

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-3.15

-2.58

-1.84

-2.63

-2.03

Research Frontiers Quarterly Data
	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23
EBIT	Get a 7-Day Free Trial															-0.82	-0.49	-0.53	-0.51	-0.51

Competitive Comparison

For the Electronic Components subindustry, Research Frontiers's EV-to-EBIT, along with its competitors' market caps and EV-to-EBIT data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.

Research Frontiers EV-to-EBIT Distribution

For the Hardware industry and Technology sector, Research Frontiers's EV-to-EBIT distribution charts can be found below:

* The bar in red indicates where Research Frontiers's EV-to-EBIT falls into.

Research Frontiers EBIT Calculation

EBIT, sometimes also called Earnings Before Interest and Taxes, is a measure of a firm's profit that includes all expenses except interest and income tax expenses. It is the difference between operating revenues and operating expenses. When a firm does not have non-operating income, then Operating Income is sometimes used as a synonym for EBIT and operating profit.

EBIT for the trailing twelve months (TTM) ended in Dec. 2023 adds up the quarterly data reported by the company within the most recent 12 months, which was $-2.03 Mil.

Research Frontiers (NAS:REFR) EBIT Explanation

1. EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition.

Research Frontiers's annualized ROC % for the quarter that ended in Dec. 2023 is calculated as:

	ROC % (Q: Dec. 2023 )
=	NOPAT	/	Average Invested Capital
=	Operating Income * ( 1 - Tax Rate % )	/	( (Invested Capital (Q: Sep. 2023 )	+	Invested Capital (Q: Dec. 2023 ))	/ count )
=	-2.02 * ( 1 - 0% )	/	( (1.149	+	1.31)	/ 2 )
=	-2.02	/	1.2295
=	-164.29 %

where

	Invested Capital		(Q: Sep. 2023 )
=	Total Assets	-	Accounts Payable & Accrued Expense	-	Excess Cash
=	Total Assets	-	Accounts Payable & Accrued Expense	-	( Cash, Cash Equivalents, Marketable Securities	-	max(0, Total Current Liabilities	-	Total Current Assets	+	Cash, Cash Equivalents, Marketable Securities	))
=	4.227	-	0.053	-	( 3.025	-	max(0, 0.264	-	3.91	+	3.025	))
=	1.149

	Invested Capital		(Q: Dec. 2023 )
=	Total Assets	-	Accounts Payable & Accrued Expense	-	Excess Cash
=	Total Assets	-	Accounts Payable & Accrued Expense	-	( Cash, Cash Equivalents, Marketable Securities	-	max(0, Total Current Liabilities	-	Total Current Assets	+	Cash, Cash Equivalents, Marketable Securities	))
=	3.851	-	0.065	-	( 2.476	-	max(0, 0.277	-	3.576	+	2.476	))
=	1.31

Note: The Operating Income data used here is four times the quarterly (Dec. 2023) data.

2. Joel Greenblatt's definition of Return on Capital:

Research Frontiers's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2023 is calculated as:

	ROC (Joel Greenblatt) %		(Q: Dec. 2023 )
=	EBIT	/	Average of (Net fixed Assets	+	Net Working Capital)
=	EBIT	/	Average of (Property, Plant and Equipment	+	Net Working Capital)
			Q: Sep. 2023		Q: Dec. 2023
=	EBIT	/	( ( (Property, Plant and Equipment + Net Working Capital)	+	(Property, Plant and Equipment + Net Working Capital) )	/	count )
=	-2.02	/	( ( (0.261 + max(0.829, 0))	+	(0.218 + max(1.035, 0)) )	/	2 )
=	-2.02	/	( ( 1.09	+	1.253 )	/	2 )
=	-2.02	/	1.1715
=	-172.43 %

where Working Capital is:

	Working Capital		(Q: Sep. 2023 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(0.721	+	0	+	0.164)	-	(0.053	+	0.004	+	-0.001)
=	0.829

	Working Capital		(Q: Dec. 2023 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(1.003	+	0	+	0.097)	-	(0.065	+	0	+	0)
=	1.035

When net working capital is negative, 0 is used.

Note: The EBIT data used here is four times the quarterly (Dec. 2023) EBIT data.

3. It is also linked to Joel Greenblatt's definition of Earnings Yield:

Research Frontiers's Earnings Yield (Joel Greenblatt) % for today is calculated as:

Earnings Yield (Joel Greenblatt) %	=	EBIT (TTM)	/	Enterprise Value (Q: Dec. 2023 )
	=	-2.033	/	48.726
	=	-4.17 %

Research Frontiers EBIT Related Terms

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Research Frontiers (Research Frontiers) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Technology » Hardware » Research Frontiers Inc (NAS:REFR) » Definitions » EBIT

Comparable Companies

Traded in Other Exchanges

N/A

Address

240 Crossways Park Drive, Woodbury, NY, USA, 11797-2033

Website

https://www.smartglass.com

Research Frontiers Inc is engaged in the development and marketing of technology and devices to control the flow of light. The company develops and licenses its patented suspended particle device light-control technology to other companies that manufacture and market the SPD-Smart chemical emulsion, the light-control film made from the chemical emulsion, the light-control panels made by laminating the film, electronics to power end-products incorporating the film, or lamination services for, and the end-products. Its revenue source comes from the licensing of technology.

Executives

Darryl Daigle	director	3213 WYTCHWOOD DRIVE, MORGAN CITY LA 70380
Eyal Peso	director	C/O GAUZY LTD., 14 HATHIYA STREET, TEL AVIV-YAFO L3 6816914
Kevin Douglas	10 percent owner, other: 13(d)(3) group	300A DRAKES LANDING ROAD, SUITE 200, GREENBRAE CA 94904
William Graham Settle	director	6003 COBRIDGE SQUARE, RALEIGH NC 27609
Michael R Lapointe	officer: Vice President-Marketing
Alexander Kaganowicz	director	1217 CARLLS STRAIGHT PATH, DIX HILLS NY 11746
Joseph M Harary	director, officer: Persident and CEO
Grimes George Gregory	director	24 FIFTH AVENUE, APT. 1530, NEW YORK NY 10011
Douglas Family Trust	10 percent owner, other: 13(d)(3) group	300A DRAKES LANDING ROAD, SUITE 200, GREENBRAE CA 94904
James & Jean Douglas Irrevocable Descendants Trust	10 percent owner, other: 13(d)(3) group	300A DRAKES LANDING ROAD, SUITE 200, GREENBRAE CA 94904
Voorhees Seth Van	officer: VicePresident-Business Dev/CFO	12 HARVEY DRIVE, SHORT HILLS NJ 07078
Robert L Saxe	director, officer: Chairman/CTO
Steven Michael Slovak	officer: Vice President-Technology	240 CROSSWAYS PARK DRIVE, WOODBURY NY 11797
Jack Derby	director	399 BOYLSTON STREET, BOSTON MA 02117
Victor F Keen	director	C/O RESEARCH FRONTIERS INC., 240 CROSSWAYS PARK DRIVE, WOODBURY NY 11797