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Research Frontiers Altman Z-Score

: 1.84 (As of Today)
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Warning Sign:

Altman Z-score of 1.84 is in grey area. The implies that the company is in some kind of financial stress. If it is below 1.8, the company may faces bankrupcy risk.

Research Frontiers has a Altman Z-Score of 1.84, indicating it is in Grey Zones. This implies that Research Frontiers is in some kind of financial stress. If it is below 1.81, the company may face bankrupcy risk.

The zones of discrimination were as such:

When Altman Z-Score <= 1.8, it is in Distress Zones.
When Altman Z-Score >= 3, it is in Safe Zones.
When Altman Z-Score is between 1.8 and 3, it is in Grey Zones.

The historical rank and industry rank for Research Frontiers's Altman Z-Score or its related term are showing as below:

REFR' s Altman Z-Score Range Over the Past 10 Years
Min: -24.8   Med: 125   Max: 778.44
Current: 1.84

During the past 13 years, Research Frontiers's highest Altman Z-Score was 778.44. The lowest was -24.80. And the median was 125.00.


Research Frontiers Altman Z-Score Historical Data

The historical data trend for Research Frontiers's Altman Z-Score 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.

* Premium members only.

Research Frontiers Annual Data
Trend Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21
Altman Z-Score
Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only -6.60 -12.38 27.12 34.33 5.91

Research Frontiers Quarterly Data
Jun17 Sep17 Dec17 Mar18 Jun18 Sep18 Dec18 Mar19 Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22
Altman Z-Score Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 30.26 19.91 29.33 5.91 7.77

Competitive Comparison

For the Electronic Components subindustry, Research Frontiers's Altman Z-Score, along with its competitors' market caps and Altman Z-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 Altman Z-Score Distribution

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

* The bar in red indicates where Research Frontiers's Altman Z-Score falls into.



Research Frontiers Altman Z-Score Calculation

Altman Z-Score model is an accurate forecaster of failure up to two years prior to distress. It can be considered the assessment of the distress of industrial corporations.

Research Frontiers's Altman Z-Score for today is calculated with this formula:

Z=1.2*X1+1.4*X2+3.3*X3+0.6*X4+1.0*X5
=1.2*0.7819+1.4*-31.1697+3.3*-0.4966+0.6*76.429+1.0*0.3171
=1.84

* 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. GuruFocus does not calculate Altman Z-Score when X4 or X5 value is 0.

Trailing Twelve Months (TTM) ended in Mar. 2022:
Total Assets was $3.86 Mil.
Total Current Assets was $3.31 Mil.
Total Current Liabilities was $0.29 Mil.
Retained Earnings was $-120.32 Mil.
Pre-Tax Income was -0.628 + -0.783 + 0.022 + -0.528 = $-1.92 Mil.
Interest Expense was 0 + 0 + 0 + 0 = $0.00 Mil.
Revenue was 0.174 + 0.213 + 0.723 + 0.114 = $1.22 Mil.
Market Cap (Today) was $53.81 Mil.
Total Liabilities was $0.70 Mil.

* Note that for stock reported semi-annually or annually, GuruFocus uses latest annual data as the TTM data.

X1=Working Capital/Total Assets
=(Total Current Assets - Total Current Liabilities)/Total Assets
=(3.306 - 0.288)/3.86
=0.7819

X2=Retained Earnings/Total Assets
=-120.315/3.86
=-31.1697

X3=Earnings Before Interest and Taxes/Total Assets
=(Pre-Tax Income - Interest Expense)/Total Assets
=(-1.917 - 0)/3.86
=-0.4966

X4=Market Value Equity/Book Value of Total Liabilities
=Market Cap/Total Liabilities
=53.806/0.704
=76.429

X5=Revenue/Total Assets
=1.224/3.86
=0.3171

The zones of discrimination were as such:

Distress Zones - 1.81 < Grey Zones < 2.99 - Safe Zones

Research Frontiers has a Altman Z-Score of 1.84 indicating it is in Grey Zones.

Study by Altman found that companies that are in Distress Zone have more than 80% of chances of bankruptcy in two years.


Research Frontiers  (NAS:REFR) Altman Z-Score Explanation

X1: The Working Capital/Total Assets (WC/TA) ratio is a measure of the net liquid assets of the firm relative to the total capitalization. Working capital is defined as the difference between current assets and current liabilities. Ordinarily, a firm experiencing consistent operating losses will have shrinking current assets in relation to total assets. Altman found this one proved to be the most valuable liquidity ratio comparing with the current ratio and the quick ratio. This is however the least significant of the five factors.

X2: Retained Earnings/Total Assets: the RE/TA ratio measures the leverage of a firm. Retained earnings is the account which reports the total amount of reinvested earnings and/or losses of a firm over its entire life. Those firms with high RE, relative to TA, have financed their assets through retention of profits and have not utilized as much debt.

X3, Earnings Before Interest and Taxes/Total Assets (EBIT/TA): This ratio is a measure of the true productivity of the firm's assets, independent of any tax or leverage factors. Since a firm's ultimate existence is based on the earning power of its assets, this ratio appears to be particularly appropriate for studies dealing with corporate failure. This ratio continually outperforms other profitability measures, including cash flow.

X4, Market Value of Equity/Book Value of Total Liabilities (MVE/TL): The measure shows how much the firm's assets can decline in value (measured by market value of equity plus debt) before the liabilities exceed the assets and the firm becomes insolvent.

X5, Revenue/Total Assets (S/TA): The capital-turnover ratio is a standard financial ratio illustrating the sales generating ability of the firm's assets.

Read more about Altman Z-Score and the original research.


Be Aware

Altman Z-Score does not apply to financial companies.


Research Frontiers Altman Z-Score Related Terms

Thank you for viewing the detailed overview of Research Frontiers's Altman Z-Score provided by GuruFocus.com. Please click on the following links to see related term pages.


Research Frontiers Business Description

Research Frontiers logo
Industry
Technology » Hardware NAICS : 334419 SIC : 3679
Traded in Other Exchanges
N/A
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. Its revenue source comes from the licensing of technology.
Executives
Douglas Family Trust 10 percent owner, other: 13(d)(3) group 125 E. SIR FRANCIS DRAKE BLVD. SUITE 400 LARKSPUR CA 94939
James & Jean Douglas Irrevocable Descendants Trust 10 percent owner, other: 13(d)(3) group 125 E. SIR FRANCIS DRAKE BLVD. SUITE 400 LARKSPUR CA 94939
Douglas Kevin 10 percent owner, other: 13(d)(3) group 125 E. SIR FRANCIS DRAKE BLVD. SUITE 400 LARKSPUR CA 94939
Settle William Graham director 6003 COBRIDGE SQUARE RALEIGH NC 27609
Lapointe Michael R officer: VP-Marketing PUBLIC "-//W3C//DTD HTML 4.0 Transitional//EN"> Ownership Information: LAPOINTE MICHAEL R a.header:link {color: #3b4fae; font-weight: bold; text-decoration: underline;} a.header:visited {color: #3b4fae; font-weight: bold; text-decoration: underline;} a.header:hover {color: #191970;}
Harary Joseph M director, officer: President and CEO PUBLIC "-//W3C//DTD HTML 4.0 Transitional//EN"> Ownership Information: HARARY JOSEPH M a.header:link {color: #3b4fae; font-weight: bold; text-decoration: underline;} a.header:visited {color: #3b4fae; font-weight: bold; text-decoration: underline;} a.header:hover {color: #191970;}
Van Voorhees Seth officer: CFO & VP-Business Development 12 HARVEY DRIVE SHORT HILLS NJ 07078
Daigle Darryl director 3213 WYTCHWOOD DRIVE MORGAN CITY LA 70380
Kaganowicz Alexander director 1217 CARLLS STRAIGHT PATH DIX HILLS NY 11746
Grimes Gregory George director 24 FIFTH AVENUE APT. 1530 NEW YORK NY 10011
Slovak Steven Michael officer: Vice President-Technology 240 CROSSWAYS PARK DRIVE WOODBURY NY 11797
Saxe Robert L director, officer: Chairman of the Board PUBLIC "-//W3C//DTD HTML 4.0 Transitional//EN"> Ownership Information: SAXE ROBERT L a.header:link {color: #3b4fae; font-weight: bold; text-decoration: underline;} a.header:visited {color: #3b4fae; font-weight: bold; text-decoration: underline;} a.header:hover {color: #191970;}
Keen Victor F director C/O RESEARCH FRONTIERS INC. 240 CROSSWAYS PARK DRIVE WOODBURY NY 11797
Guthrie Marion Philip director THREE LINCOLN CENTRE 5430 LBJ FWY., SUITE 1480 DALLAS TX 75240
Derby Jack director 399 BOYLSTON STREET BOSTON MA 02117

Research Frontiers Headlines

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