REFR (Research Frontiers) Moat Score: 3/10 (As of Aug. 18, 2026)

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REFR Research Frontiers Inc REFR
28 GF Score
Price $0.42
GF Value $0.81
Valuation Possible Value Trap
! 5 Warning Signs
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What is Research Frontiers Moat Score?

Research Frontiers REFR -3.60% 28 Moat Score is 3 as of Aug. 18, 2026. 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 2,464 Hardware companies, Research Frontiers ranks better than 91.68% on this metric.

Research Frontiers has the Moat Score of 3, which implies that the company might have No Moat - Very weak/transient advantages.

Research Frontiers has No Moat: REFR has some intellectual property in smart glass technology, but lacks market leadership and strong customer loyalty. The industry is competitive with limited switching costs and no significant regulatory barriers. The company's technology has not yet achieved widespread adoption, limiting its competitive advantage.

Moat Score is a ranking system developed by GuruFocus to assess a company's ability to sustain a competitive advantage, rated on a scale from 0 to 10. It takes into account key factors such as market leadership, cost advantages, network effects, customer switching costs, and more.

The company's Moat Score is based on these criteria:

1. Market leadership and sustainable market share
2. Network effects and significant customer switching costs
3. Valuable intellectual property and patents
4. Strong brand strength and deep customer loyalty
5. Durable cost advantages (e.g., economies of scale, proprietary technology)
6. Significant regulatory barriers and exclusive licenses
7. Superior distribution network
8. Strong and sustainable pricing power
9. Consistent and impactful innovation and R&D capabilities

Based on the research, GuruFocus believes Research Frontiers might have No Moat - Very weak/transient advantages.

Research Frontiers  (NAS:REFR) Moat Score Explanation

The Moat Score ranges from 0 to 10, with 10 as the highest. GuruFocus divided Moat Score into following 8 categories:

Moat Score Moat Level
10Wide Moat - Exceptionally dominant and durable wide moat
8 - 9Wide Moat - Clear and robust wide moat
7Wide Moat - Entry-level wide moat, clearly possessing durable advantages
6Narrow Moat - Strong narrow moat, clearly distinguishable but not wide
5Narrow Moat - Solid narrow moat
4Narrow Moat - Discernible but modest moat
1 - 3No Moat - Very weak/transient advantages
0No Moat - No discernible moat

Research Frontiers Moat Score Related Terms

REFR vs WETH, NEON, MTEK: Moat Score Comparison

For the Electronic Components subindustry, Research Frontiers's Moat Score, along with its competitors' market caps and Moat Score 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 Moat Score vs Hardware Industry

For the Hardware industry and Technology sector, Research Frontiers's Moat Score distribution charts can be found below:

* The bar in red indicates where Research Frontiers's Moat Score falls into.


REFR
28GF Score
Research Frontiers Inc REFR
Moat Score is just one metric. See GF Score™, valuation, warning signs, and more.
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Frequently Asked Questions Learn more about Moat Score →
What does a Moat Score of 3 mean?
Research Frontiers (REFR) has a Moat Score of 3 as of Aug. 18, 2026. Moat Score is a ranking system developed by GuruFocus to assess a company's ability to sustain a competitive advantage, rated on a scale from 0 to 10. It takes into account key factors such as market leadership, cost advantages, network effects, customer switching costs, and more. According to the industry distribution chart, Research Frontiers ranks #205 out of 2464 companies in the Hardware industry, placing it in the top 8.3%.
Is Research Frontiers' Moat Score too high?
Research Frontiers' current Moat Score is 3. Based on the distribution chart, Research Frontiers ranks #205 out of 2464 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' Moat Score compare to WETH and NEON?
According to the Hardware industry distribution chart, Research Frontiers ranks #205 out of 2464 companies for Moat Score. This places Research Frontiers in the top 8% of its industry — outperforming the majority of peers. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Moat Score for a Hardware company?
A good Moat Score depends on the Hardware industry context. However, Moat Score should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Moat Score mean?
A high Moat Score can signal that a stock is expensive relative to its fundamentals. Moat Score is a ranking system developed by GuruFocus to assess a company's ability to sustain a competitive advantage, rated on a scale from 0 to 10. It takes into account key factors such as market leadership, cost advantages, network effects, customer switching costs, and more. Research Frontiers's current Moat Score is 3. 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 $0.42 — trading 48.1% below its estimated fair value. The current Moat Score is 3. 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 Moat Score calculated?
Moat Score is calculated from a company's financial statements. For Research Frontiers (REFR), the current Moat Score is 3 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 $0.42 is trading 48.1% below its estimated GF Value™ of $0.81. GuruFocus considers Research Frontiers to be Possible Value Trap.

Key valuation signals for REFR:

  • Moat Score: 3
  • GF Value™: $0.81 vs. price of $0.42 (48.1% below fair value)
  • GF Score™: 28/100 with 5 warning signs

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 Business Description

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. The company's revenue source comes from the licensing of technology.
28GF Score

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Moat Score is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

$0.42
Price
$0.81
GF Value