In calculating the Net-Net Working Capital (NNWC), Benjamin Graham assumed that a company's accounts receivable is only worth 75% its value, its inventory is only worth 50% of its value, but its liabilities have to be paid in full. In addition, Graham believed that preferred stock belongs on the liability side of the balance sheet, not as part of capital and surplus. This is a conservative way of estimating the company's value.
Research Frontiers's net-net working capital per share for the quarter that ended in Mar. 2022 was $0.07.
The industry rank for Research Frontiers's Net-Net Working Capital or its related term are showing as below:
Research Frontiers Net-Net Working Capital Historical Data
The historical data trend for Research Frontiers's Net-Net Working Capital 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.
|
Research Frontiers Annual Data
|
|
Trend |
Dec12 |
Dec13 |
Dec14 |
Dec15 |
Dec16 |
Dec17 |
Dec18 |
Dec19 |
Dec20 |
Dec21 |
| Net-Net Working Capital |
|
|
|
|
|
|
0.08 |
0.09 |
0.19 |
0.14 |
0.09 |
|
Research Frontiers Quarterly Data
|
|
Jun17 |
Sep17 |
Dec17 |
Mar18 |
Jun18 |
Sep18 |
Dec18 |
Mar19 |
Jun19 |
Sep19 |
Dec19 |
Mar20 |
Jun20 |
Sep20 |
Dec20 |
Mar21 |
Jun21 |
Sep21 |
Dec21 |
Mar22 |
| Net-Net Working Capital |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
0.12 |
0.10 |
0.10 |
0.09 |
0.07 |
Competitive Comparison
For the Electronic Components subindustry, Research Frontiers's Net-Net Working Capital, along with its competitors' market caps and Net-Net Working Capital 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 Net-Net Working Capital Distribution
For the Hardware industry and Technology sector, Research Frontiers's Net-Net Working Capital distribution charts can be found below:
* The bar in red indicates where Research Frontiers's Net-Net Working Capital falls into.
Research Frontiers Net-Net Working Capital Calculation
Research Frontiers's Net-Net Working Capital (NNWC) per share for the fiscal year that ended in Dec. 2021 is calculated as
Research Frontiers's Net-Net Working Capital (NNWC) per share for the quarter that ended in Mar. 2022 is calculated as
* 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.
In calculating the Net-Net Working Capital (NNWC), Benjamin Graham assumed that a company's accounts receivable is only worth 75% its value, its inventory is only worth 50% of its value, but its liabilities have to be paid in full.
In addition, Graham believed that preferred stock belongs on the liability side of the balance sheet, not as part of capital and surplus. In "Security Analysis", preferred stock is dubbed "an imperfect creditorship position" that is best placed on the balance sheet alongside funded debt.
This is a conservative way of estimating the company's value.
Research Frontiers Business Description
Traded in Other Exchanges
N/A
Address
240 Crossways Park Drive, Woodbury, NY, USA, 11797-2033
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
| Douglas Family Trust |
10 percent owner, other: 13(d)(3) group |
125 E. SIR FRANCIS DRAKE BLVD. SUITE 400 LARKSPUR CA 94939 |
| James & Jean Douglas Irrevocable Descendants Trust |
10 percent owner, other: 13(d)(3) group |
125 E. SIR FRANCIS DRAKE BLVD. SUITE 400 LARKSPUR CA 94939 |
| Douglas Kevin |
10 percent owner, other: 13(d)(3) group |
125 E. SIR FRANCIS DRAKE BLVD. SUITE 400 LARKSPUR CA 94939 |
| Settle William Graham |
director |
6003 COBRIDGE SQUARE RALEIGH NC 27609 |
| Lapointe Michael R |
officer: VP-Marketing |
PUBLIC "-//W3C//DTD HTML 4.0 Transitional//EN"> Ownership Information: LAPOINTE MICHAEL R a.header:link {color: #3b4fae; font-weight: bold; text-decoration: underline;} a.header:visited {color: #3b4fae; font-weight: bold; text-decoration: underline;} a.header:hover {color: #191970;} |
| Harary Joseph M |
director, officer: President and CEO |
PUBLIC "-//W3C//DTD HTML 4.0 Transitional//EN"> Ownership Information: HARARY JOSEPH M a.header:link {color: #3b4fae; font-weight: bold; text-decoration: underline;} a.header:visited {color: #3b4fae; font-weight: bold; text-decoration: underline;} a.header:hover {color: #191970;} |
| Van Voorhees Seth |
officer: CFO & VP-Business Development |
12 HARVEY DRIVE SHORT HILLS NJ 07078 |
| Daigle Darryl |
director |
3213 WYTCHWOOD DRIVE MORGAN CITY LA 70380 |
| Kaganowicz Alexander |
director |
1217 CARLLS STRAIGHT PATH DIX HILLS NY 11746 |
| Grimes Gregory George |
director |
24 FIFTH AVENUE APT. 1530 NEW YORK NY 10011 |
| Slovak Steven Michael |
officer: Vice President-Technology |
240 CROSSWAYS PARK DRIVE WOODBURY NY 11797 |
| Saxe Robert L |
director, officer: Chairman of the Board |
PUBLIC "-//W3C//DTD HTML 4.0 Transitional//EN"> Ownership Information: SAXE ROBERT L a.header:link {color: #3b4fae; font-weight: bold; text-decoration: underline;} a.header:visited {color: #3b4fae; font-weight: bold; text-decoration: underline;} a.header:hover {color: #191970;} |
| Keen Victor F |
director |
C/O RESEARCH FRONTIERS INC. 240 CROSSWAYS PARK DRIVE WOODBURY NY 11797 |
| Guthrie Marion Philip |
director |
THREE LINCOLN CENTRE 5430 LBJ FWY., SUITE 1480 DALLAS TX 75240 |
| Derby Jack |
director |
399 BOYLSTON STREET BOSTON MA 02117 |
Research Frontiers Headlines
By Seekingalpha 2022-03-10
By Seekingalpha 2020-05-11
By Seekingalpha 2021-11-09
By Seekingalpha 2020-11-08
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