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Research FrontiersREFR -0.67%28 PS Ratio is 22.78 as of Aug. 18, 2026, which is 51% below its 10-year median of 46.63. 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 2,472 Hardware companies, Research Frontiers ranks worse than 95.23% on this metric.
The PS Ratio, or Price-to-Sales ratio, or Price/Sales, is a financial ratio used to compare a company's market price to its Revenue per Share. As of today, Research Frontiers's share price is $0.4328.
Research Frontiers's Revenue per Share for the trailing twelve months (TTM) ended in Jun. 2026 was $0.02. Hence, Research Frontiers's PS Ratio for today is 22.78.
Good Sign:
Research Frontiers Inc stock PS Ratio (=22.93) is close to 1-year low of 21.06.
The historical rank and industry rank for Research Frontiers's PS Ratio or its related term are showing as below:
REFR'
s PS Ratio Range Over the Past 10 Years
Min: 9.3 Med: 46.63 Max: 202.69
Current: 22.78
During the past 13 years, Research Frontiers's highest PS Ratio was 202.69. The lowest was 9.30. And the median was 46.63.
REFR's PS Ratio is ranked worse than 95.23% of 2472
companies
in the Hardware industry
Industry Median: 1.9
vs REFR: 22.78
Research Frontiers Inc revenue per share is in decline over the past 12 months.
During the past 12 months, the average Revenue per Share Growth Rate of Research Frontiers was -48.60% per year.
During the past 3 years, the average Revenue per Share Growth Rate was 24.70% per year.
During the past 5 years, the average Revenue per Share Growth Rate was 4.80% per year.
During the past 10 years, the average Revenue per Share Growth Rate was -9.40% per year.
During the past 13 years, Research Frontiers's highest 3-Year average Revenue per Share Growth Rate was 121.70% per year. The lowest was -47.20% per year. And the median was -3.00% per year.
Research Frontiers (NAS:REFR) PS Ratio Explanation
The PS Ratio is an excellent valuation indicator if you want to compare a stock with its historical valuation or with the stocks in the same industry. The PS Ratio works especially well when you want to compare the stock's current valuation with its historical valuation. The PS Ratio is a great valuation tool for evaluating cyclical businesses where the PE Ratio works poorly. It works the best when comparing the current valuation with the historical valuation because over time, a company's profit margin tends to revert to the mean.
When the PS Ratio is applied to the whole stock market, it can be used to evaluate the current market valuation and projected returns. In this case, the price is the total market cap of all stocks that are traded, and sales are the GDP of the country. This is how Warren Buffett estimates the broad market valuation and project future returns.
The PS Ratio does not tell you how cheap or expensive the stock is. It cannot be used to compare companies in different industries. It works better for companies within the same industry because these companies tend to have similar capital structures and profit margins. It works the best when comparing a company with itself in the past.
Research Frontiers PS Ratio Related Terms
Research Frontiers PS Ratio Historical Data
* Premium members only.
The historical data trend for Research Frontiers's PS Ratio 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.
For the Electronic Components subindustry, Research Frontiers's PS Ratio, along with its competitors' market caps and PS Ratio 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 PS Ratio vs Hardware Industry
For the Hardware industry and Technology sector, Research Frontiers's PS Ratio distribution charts can be found below:
* The bar in red indicates where Research Frontiers's PS Ratio falls into.
The PS Ratio, or Price-to-Sales ratio, or Price/Sales, is a financial ratio used to compare a company's market price to its Revenue per Share. It is a ratio widely used to value stocks and it was first used by Ken Fisher.
Research Frontiers's Share Price of today is $0.4328. 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 $0.02.
* 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.
It can also be calculated from the numbers for the whole company:
Research Frontiers (REFR) has a PS Ratio of 22.78 as of Aug. 18, 2026. Price-to-Sales ratio is the ratio of share price to a company's revenue per share. View historical data on Research Frontiers and its competitors. This is 51% below median its historical median of 46.63. Over the past decade, Research Frontiers' PS Ratio has ranged from 9.30 to 202.69. According to the industry distribution chart, Research Frontiers ranks #2354 out of 2472 companies in the Hardware industry, placing it in the top 95.2%.
Is Research Frontiers' PS Ratio too high?
Research Frontiers' current PS Ratio of 22.78 is 51% below median its 10-year median of 46.63. Over the past 10 years, this metric has ranged from a low of 9.30 to a high of 202.69. The Hardware industry median PS Ratio is 1.90. Research Frontiers' value of 22.78 is 1098.9% above this industry median. Based on the distribution chart, Research Frontiers ranks #2354 out of 2472 companies in the Hardware industry, which is in the bottom quartile 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' PS Ratio compare to WETH and NEON?
According to the Hardware industry distribution chart, Research Frontiers ranks #2354 out of 2472 companies for PS Ratio. This places Research Frontiers in the lower half of its industry. The industry median PS Ratio is 1.90. Research Frontiers' value of 22.78 is 1098.9% above this benchmark. Historically, Research Frontiers' own PS Ratio has ranged from 9.30 to 202.69 over the past decade. While the company's 10-year median is 46.63 vs. the industry median of 1.90, Research Frontiers has consistently been above 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 PS Ratio for a Hardware company?
The median PS Ratio among Hardware companies is 1.90, based on 2,472 companies in the industry. Companies in the top quartile (top 25%) have a PS Ratio significantly above this median, while those in the bottom quartile fall well below. However, PS Ratio should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Research Frontiers's current PS Ratio of 22.78 is 1098.9% above 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 PS Ratio mean?
A high PS Ratio can signal that a stock is expensive relative to its fundamentals. Price-to-Sales ratio is the ratio of share price to a company's revenue per share. View historical data on Research Frontiers and its competitors. For the Hardware industry, the median PS Ratio is 1.90 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Research Frontiers's current PS Ratio is 22.78, which is 51% below median its own 10-year median of 46.63. 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 PS Ratio is 22.78, which is 51% below median its 10-year median of 46.63 and 1098.9% above the Hardware industry median of 1.90. 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 PS Ratio calculated?
PS Ratio is calculated from a company's financial statements. For Research Frontiers (REFR), the current PS Ratio is 22.78 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:
PS Ratio: 22.78 (51% below median its 10-year median of 46.63)
GF Value™: $0.81 vs. price of $0.43 (46.6% below fair value)
Industry Position: 1098.9% above the Hardware median (#2354 of 2472)
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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