Research Frontiers Incorporated (REFR)

Research Frontiers Incorporated (REFR) — VMCI valuation read

Across 120 indicators, Research Frontiers Incorporated (REFR) lands at VMCI 29/100. The Technology sector median is 50, so the 21-point below-median read is the active comparison. Pillar weighting on the score: Value 35%, Quality 30%, Integrity 15%, Growth 12%, Risk 8%.

No material Form 4 disclosures landed on REFR in the past 30 days. Quiet insider tape removes one signal source; the active reads stay with the trailing-twelve-month financials and the next 10-Q.

**Investor frame.** On Value, REFR trades at 19.0x earnings, 6% above the Technology median of 18.0x; the EV/EBITDA delta of -2.0x reinforces that single line. On Quality, ROIC of 13.0% sits 3.0pp above the Technology median (10.0%). On Risk, net debt to EBITDA of 2.8x is the rate-sensitivity line to watch for REFR on the trailing balance sheet.

REFR fell 2.0% over the trailing 7 days, with a -11.0% read on a 30-day basis.