In calculating the Net Current Asset Value (NCAV), Benjamin Graham means a company's current assets (such as cash, marketable securities, and inventories) minus its total liabilities (including preferred stock, minority interest, and long-term debt).
Research Frontiers's net current asset value per share for the quarter that ended in Mar. 2022 was $0.08.
The historical rank and industry rank for Research Frontiers's Net Current Asset Value or its related term are showing as below:
REFR'
s Price-to-Net-Current-Asset-Value Range Over the Past 10 Years
Min: 2.55 Med: 15.14 Max: 80
Current: 19.75
During the past 13 years, the highest Price-to-Net-Current-Asset-Value Ratio of Research Frontiers was 80.00. The lowest was 2.55. And the median was 15.14.
REFR's Price-to-Net-Current-Asset-Value is ranked worse than 92% of 1763
companies
in the Hardware industry
Industry Median: 3.87
vs REFR: 19.75
Research Frontiers Net Current Asset Value Historical Data
The historical data trend for Research Frontiers's Net Current Asset Value 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
Dec12
Dec13
Dec14
Dec15
Dec16
Dec17
Dec18
Dec19
Dec20
Dec21
Net Current Asset Value
0.09
0.10
0.20
0.14
0.10
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 Current Asset Value
0.13
0.12
0.12
0.10
0.08
Competitive Comparison
For the Electronic Components subindustry, Research Frontiers's Net Current Asset Value, along with its competitors' market caps and Net Current Asset Value 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 Current Asset Value Distribution
For the Hardware industry and Technology sector, Research Frontiers's Net Current Asset Value distribution charts can be found below:
* The bar in red indicates where Research Frontiers's Net Current Asset Value falls into.
Research Frontiers Net Current Asset Value Calculation
Research Frontiers's Net Current Asset Value (NCAV) per share for the fiscal year that ended in Dec. 2021 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.
Research Frontiers (NAS:REFR) Net Current Asset Value Explanation
Benjamin Graham first discussed net current asset value (NCAV) in the 1934 edition of "Security Analysis", which he coauthored with David Dodd. In the book, (net) current asset value is defined as:" current assets alone, minus all liabilities and claims ahead of the issue."
The common definition of NCAV is: NCAV = current assets – [total liabilities + minority interest + preferred stock]
Net current assets exclude not only the intangible assets but also the fixed and miscellaneous assets. 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.
One research study, covering the years 1970 through 1983 showed that portfolios picked at the beginning of each year, and held for one year, returned 29.4 percent, on average, over the 13-year period, compared to 11.5 percent for the S&P 500 Index. Other studies of Grahams strategy produced similar results.
Research Frontiers Net Current Asset Value Related Terms
Thank you for viewing the detailed overview of Research Frontiers's Net Current Asset Value provided by GuruFocus.com. Please click on the following links to see related term pages.
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.
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