Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
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 Quick Ratio is 3.54 as of Jun. 2026, which is 70% below its 10-year median of 11.84. 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 2,497 Hardware companies, Research Frontiers ranks better than 83.94% on this metric.
Research Frontiers (NAS:REFR) Quick Ratio Explanation
The quick ratio is more conservative than the Current Ratio because it excludes inventories from current assets. The ratio derives its name presumably from the fact that assets such as cash and marketable securities are quick sources of cash. Inventories generally take time to be converted into cash, and if they have to be sold quickly, the company may have to accept a lower price than book value of these inventories. As a result, they are justifiably excluded from assets that are ready sources of immediate cash.
In general, low or decreasing quick ratios generally suggest that a company is over-leveraged, struggling to maintain or grow sales, paying bills too quickly or collecting receivables too slowly. On the other hand, a high or increasing quick ratio generally indicates that a company is experiencing solid top-line growth, quickly converting receivables into cash, and easily able to cover its financial obligations. Such companies often have faster inventory turnover and cash conversion cycles.
The higher the quick ratio, the better the company's liquidity position.
Research Frontiers Quick Ratio Related Terms
Research Frontiers Quick Ratio Historical Data
* Premium members only.
The historical data trend for Research Frontiers's Quick 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 Quick Ratio, along with its competitors' market caps and Quick 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 Quick Ratio vs Hardware Industry
For the Hardware industry and Technology sector, Research Frontiers's Quick Ratio distribution charts can be found below:
* The bar in red indicates where Research Frontiers's Quick Ratio falls into.
The quick ratio measures a company's ability to meet its short-term obligations with its most liquid assets. For this reason, the ratio excludes inventories from current assets.
Research Frontiers's Quick Ratio for the fiscal year that ended in Dec. 2025 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 (REFR) has a Quick Ratio of 3.54 as of Jun. 2026. Quick ratio is the ratio of current assets less inventory to current liabilities. View historical data on Research Frontiers and its competitors. This is 70% below median its historical median of 11.84. Over the past decade, Research Frontiers' Quick Ratio has ranged from 3.54 to 27.80. According to the industry distribution chart, Research Frontiers ranks #401 out of 2497 companies in the Hardware industry, placing it in the top 16.1%.
Is Research Frontiers' Quick Ratio too high?
Research Frontiers' current Quick Ratio of 3.54 is 70% below median its 10-year median of 11.84. Over the past 10 years, this metric has ranged from a low of 3.54 to a high of 27.80. The Hardware industry median Quick Ratio is 1.42. Research Frontiers' value of 3.54 is 149.3% above this industry median. Based on the distribution chart, Research Frontiers ranks #401 out of 2497 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' Quick Ratio compare to WETH and NEON?
According to the Hardware industry distribution chart, Research Frontiers ranks #401 out of 2497 companies for Quick Ratio. This places Research Frontiers in the top 16% of its industry — outperforming the majority of peers. The industry median Quick Ratio is 1.42. Research Frontiers' value of 3.54 is 149.3% above this benchmark. Historically, Research Frontiers' own Quick Ratio has ranged from 3.54 to 27.80 over the past decade. While the company's 10-year median is 11.84 vs. the industry median of 1.42, 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 Quick Ratio for a Hardware company?
The median Quick Ratio among Hardware companies is 1.42, based on 2,497 companies in the industry. Companies in the top quartile (top 25%) have a Quick Ratio significantly above this median, while those in the bottom quartile fall well below. However, Quick Ratio should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Research Frontiers's current Quick Ratio of 3.54 is 149.3% 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 Quick Ratio mean?
A high Quick Ratio can signal that a stock is expensive relative to its fundamentals. Quick ratio is the ratio of current assets less inventory to current liabilities. View historical data on Research Frontiers and its competitors. For the Hardware industry, the median Quick Ratio is 1.42 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Research Frontiers's current Quick Ratio is 3.54, which is 70% below median its own 10-year median of 11.84. 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 Quick Ratio is 3.54, which is 70% below median its 10-year median of 11.84 and 149.3% above the Hardware industry median of 1.42. 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 Quick Ratio calculated?
Quick Ratio is calculated from a company's financial statements. For Research Frontiers (REFR), the current Quick Ratio is 3.54 as of Jun. 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:
Quick Ratio: 3.54 (70% below median its 10-year median of 11.84)
GF Value™: $0.81 vs. price of $0.43 (46.6% below fair value)
Industry Position: 149.3% above the Hardware median (#401 of 2497)
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
Get the complete analysis for REFR
Quick Ratio is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
REFR has been successfully added to your 
