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Shares Outstanding (EOP) are shares that have been authorized, issued, and purchased by investors and are held by them.
3-Year Share Buyback Ratio measures the average annual proportion of a company's outstanding shares repurchased over the past three years. It is calculated as the annualized percentage change in shares outstanding from three years ago to the current year. A positive ratio may indicate share buybacks over the period, while a zero or negative ratio may reflect no repurchases or potential share issuance. Research Frontiers's current 3-Year Share Buyback Ratio was -0.50%.
The historical rank and industry rank for Research Frontiers's 3-Year Share Buyback Ratio or its related term are showing as below:
REFR'
s 3-Year Share Buyback Ratio Range Over the Past 10 Years
Min: -21.4 Med: -4.6 Max: 2
Current: -0.5
During the past 13 years, Research Frontiers's highest 3-Year Share Buyback Ratio was 2.00%. The lowest was -21.40%. And the median was -4.60%.
REFR's 3-Year Share Buyback Ratio is ranked better than 60.84% of 1614
companies
in the Hardware industry
Industry Median: -1.3
vs REFR: -0.50
Research Frontiers (NAS:REFR) 3-Year Share Buyback Ratio Explanation
A negative number means the company might be issuing new shares. A positive number indicates that the company is buying back shares.
Be Aware
Investors usually like share buybacks. But as pointed by Warren Buffett, only if a company buys back shares at the prices below the stock's intrinsic value, it rewards remaining shareholders. If a company buys its overvalued stocks back, it destroys shareholder value.
Research Frontiers 3-Year Share Buyback Ratio Related Terms
REFR vs WETH, NEON, MSAI: 3-Year Share Buyback Ratio Comparison
For the Electronic Components subindustry, Research Frontiers's 3-Year Share Buyback Ratio, along with its competitors' market caps and 3-Year Share Buyback 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 3-Year Share Buyback Ratio vs Hardware Industry
For the Hardware industry and Technology sector, Research Frontiers's 3-Year Share Buyback Ratio distribution charts can be found below:
* The bar in red indicates where Research Frontiers's 3-Year Share Buyback Ratio falls into.
Research Frontiers 3-Year Share Buyback Ratio Calculation
This is the annualized percentage change in shares outstanding from three years ago to the current year. The annualized percentage change is calculated with expontential compound based on the latest four years of annual data on Shares Outstanding (EOP).
Please click Growth Rate Calculation Example (GuruFocus) to see how GuruFocus calculates Wal-Mart Stores Inc (WMT)'s revenue growth rate. You can apply the same method to get the average dividends per share growth rate.
What does a 3-Year Share Buyback Ratio of -0.50 mean?
Research Frontiers (REFR) has a 3-Year Share Buyback Ratio of -0.50 as of Jun. 2026. The 3-Year Share Buyback Ratio measures the average annual proportion of a company's outstanding shares repurchased over the past three years. It is calculated as the annualized percentage change in shares outstanding from three years ago to the current year. View historical data for Research Frontiers and its competitors. According to the industry distribution chart, Research Frontiers ranks #632 out of 1614 companies in the Hardware industry, placing it in the top 39.2%.
Is Research Frontiers' 3-Year Share Buyback Ratio too high?
Research Frontiers' current 3-Year Share Buyback Ratio is -0.50. Based on the distribution chart, Research Frontiers ranks #632 out of 1614 companies in the Hardware industry, which is above the industry midpoint. 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' 3-Year Share Buyback Ratio compare to WETH and NEON?
According to the Hardware industry distribution chart, Research Frontiers ranks #632 out of 1614 companies for 3-Year Share Buyback Ratio. This puts Research Frontiers in the upper half of its industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good 3-Year Share Buyback Ratio for a Hardware company?
A good 3-Year Share Buyback Ratio depends on the Hardware industry context. However, 3-Year Share Buyback Ratio 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 3-Year Share Buyback Ratio mean?
A high 3-Year Share Buyback Ratio can signal that a stock is expensive relative to its fundamentals. The 3-Year Share Buyback Ratio measures the average annual proportion of a company's outstanding shares repurchased over the past three years. It is calculated as the annualized percentage change in shares outstanding from three years ago to the current year. View historical data for Research Frontiers and its competitors. Research Frontiers's current 3-Year Share Buyback Ratio is -0.50. 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 $0.82, compared to a current price of $0.39 — trading 52.7% below its estimated fair value. The current 3-Year Share Buyback Ratio is -0.50. 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 3-Year Share Buyback Ratio calculated?
3-Year Share Buyback Ratio is calculated from a company's financial statements. For Research Frontiers (REFR), the current 3-Year Share Buyback Ratio is -0.50 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 $0.39 is trading 52.7% below its estimated GF Value™ of $0.82.
GuruFocus considers Research Frontiers to be Possible Value Trap.
Key valuation signals for REFR:
3-Year Share Buyback Ratio: -0.50
GF Value™: $0.82 vs. price of $0.39 (52.7% below fair value)
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
3-Year Share Buyback Ratio is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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