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Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.
Research FrontiersREFR -0.69%28 Median PS Value is $0.90 as of Aug. 18, 2026, which is 3% above its 10-year median of 0.87. GuruFocus rates REFR with a GF Score™ of 28/100 and a GF Value™ of $0.81 (Possible Value Trap). The stock has 5 warning signs investors should review. Among 1,551 Hardware companies, Research Frontiers ranks better than 91.94% on this metric.
This valuation method assumes that the stock valuation will revert to its historical (10-Year) median in terms of PS Ratio. The reason we use PS Ratio instead of PE Ratio or PB Ratio is because PS Ratio is independent of profit margin, and can be applied to a broader range of situations.
Research Frontiers (NAS:REFR) Median PS Value Explanation
This valuation method assumes that the stock valuation will revert to its historical (10-Year) mean in terms of PS Ratio. The reason we use PS Ratio instead of PE Ratio or PB Ratio
is because PS Ratio is independent of profit margin, and can be applied to a broader range of situations.
It also assumes that over time the profit margin is constant. If a company increases its profit margin to a sustainable level, this value might under-estimate its value. If it has permanent declined profit margins, this may over-estimate the company's value.
Research Frontiers's Price to Median PS Value for today is calculated as
Price to Median PS Value
=
Share Price
/
Median PS Value
=
0.4327
/
0.90
=
0.48
* 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 Median PS Value Related Terms
Research Frontiers Median PS Value Historical Data
* Premium members only.
The historical data trend for Research Frontiers's Median PS 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.
REFR vs WETH, NEON, MTEK: Median PS Value Comparison
For the Electronic Components subindustry, Research Frontiers's Price-to-Median-PS-Value, along with its competitors' market caps and Price-to-Median-PS-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 Price-to-Median-PS-Value vs Hardware Industry
For the Hardware industry and Technology sector, Research Frontiers's Price-to-Median-PS-Value distribution charts can be found below:
* The bar in red indicates where Research Frontiers's Price-to-Median-PS-Value falls into.
10-Year Median PS Ratio is 47.3684.
Research Frontiers's Revenue per Share for the trailing twelve months (TTM) ended in Jun. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was $0.019.
* 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 (REFR) has a Median PS Value of $0.90 as of Aug. 18, 2026. Median price-sales value is the stock value based on a company's 10-year median price-sales ratio, View historical data on Research Frontiers and its competitors. This is near median its historical median of 0.87. Over the past decade, Research Frontiers' Median PS Value has ranged from 0.24 to 2.37. According to the industry distribution chart, Research Frontiers ranks #125 out of 1551 companies in the Hardware industry, placing it in the top 8.1%.
Is Research Frontiers' Median PS Value too high?
Research Frontiers' current Median PS Value of $0.90 is near median its 10-year median of 0.87. Over the past 10 years, this metric has ranged from a low of 0.24 to a high of 2.37. The Hardware industry median Median PS Value is 1.26. Research Frontiers' value of $0.90 is 28.6% below this industry median. Based on the distribution chart, Research Frontiers ranks #125 out of 1551 companies in the Hardware industry, which is in the top quartile — a strong position relative to peers. Overall, Research Frontiers has a GF Score™ of 28/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does Research Frontiers' Median PS Value compare to WETH and NEON?
According to the Hardware industry distribution chart, Research Frontiers ranks #125 out of 1551 companies for Median PS Value. This places Research Frontiers in the top 8% of its industry — outperforming the majority of peers. The industry median Median PS Value is 1.26. Research Frontiers' value of $0.90 is 28.6% below this benchmark. Historically, Research Frontiers' own Median PS Value has ranged from 0.24 to 2.37 over the past decade. While the company's 10-year median is 0.87 vs. the industry median of 1.26, Research Frontiers has consistently been below the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Median PS Value for a Hardware company?
The median Median PS Value among Hardware companies is 1.26, based on 1,551 companies in the industry. Companies in the top quartile (top 25%) have a Median PS Value significantly above this median, while those in the bottom quartile fall well below. However, Median PS Value should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Research Frontiers's current Median PS Value of $0.90 is 28.6% below the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Median PS Value mean?
A high Median PS Value can signal that a stock is expensive relative to its fundamentals. Median price-sales value is the stock value based on a company's 10-year median price-sales ratio, View historical data on Research Frontiers and its competitors. For the Hardware industry, the median Median PS Value is 1.26 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Research Frontiers's current Median PS Value is $0.90, which is near median its own 10-year median of 0.87. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Research Frontiers stock overvalued right now?
Based on GuruFocus' analysis, Research Frontiers (REFR) is currently considered Possible Value Trap. The stock's GF Value™ is $0.81, compared to a current price of $0.43 — trading 46.6% below its estimated fair value. The current Median PS Value is $0.90, which is near median its 10-year median of 0.87 and 28.6% below the Hardware industry median of 1.26. Research Frontiers' overall GF Score™ is 28/100 with 5 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Median PS Value calculated?
Median PS Value is calculated from a company's financial statements. For Research Frontiers (REFR), the current Median PS Value is $0.90 as of Aug. 18, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Research Frontiers (REFR) Overvalued in 2026?
Based on GuruFocus' analysis, Research Frontiers stock appears to be undervalued.
The current stock price of $0.43 is trading 46.6% below its estimated GF Value™ of $0.81.
GuruFocus considers Research Frontiers to be Possible Value Trap.
Key valuation signals for REFR:
Median PS Value: $0.90 (near median its 10-year median of 0.87)
GF Value™: $0.81 vs. price of $0.43 (46.6% below fair value)
Industry Position: 28.6% below the Hardware median (#125 of 1551)
No single metric tells the full story. See the REFR stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
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. The company's revenue source comes from the licensing of technology.
28GF Score
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