Research Frontiers Incorporated Financial Ratios — REFR

Profitability (USD)

	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Return on Common Equity (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Return on Assets (%)	-67.76	-33.66	-45.68	-35.89	-38.72	-57.21	-59.2	-77.41	-61.86	-32.39	-34.37	-53.86	-41.41	-33.24	-65.03
Return on Capital (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Return on Invested Capital (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Gross Margin (%)	-327.74	-104.14	-170.26	-176.82	-136.22	-230.59	-107.28	100	100	100	100	100	100	100	100
EBITDA Margin (%)	-487.42	-193.18	-279.16	-276.27	-208.37	-330.03	-148.63	-150.28	-188.87	-303.01	-131.61	-453.96	-204.61	-88.23	-173.51
Operating Margin (%)	-492.13	-194.97	-281.25	-278.26	-215.35	-345.28	-160.27	-162.44	-201.36	-311.11	-145.59	-486.42	-223.54	-107.96	-190.16
Incremental Operating Margin (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Pretax Margin (%)	-488.67	-193.27	-279.48	-276.06	-213.2	-342.89	-159.96	-180.44	-243.54	-282.56	-146.18	-494.61	-209.8	-98.19	-182.44
Profit Margin (%)	-488.67	-161.93	-279.48	-276.06	-213.2	-342.89	-159.96	-180.44	-243.54	-282.56	-146.18	-494.61	-209.8	-98.19	-182.44
Net Income to Common Margin (%)	-488.67	-161.93	-279.48	-276.06	-213.2	-342.89	-159.96	-180.44	-243.54	-282.56	-146.18	-494.61	-209.8	-98.19	-182.44
Effective Tax Rate (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Dvd Payout Ratio (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Sustainable Growth Rate (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -

Credit (USD)

API ChatGPT

	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Total Debt	- -	- -	- -	- -	- -	- -	- -	- -	1	1	1	- -	- -	1	1
ST Debt	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
LT Debt	- -	- -	- -	- -	- -	- -	- -	- -	1	1	- -	- -	- -	1	1
Total Debt/EBITDA	- -	- -	- -	- -	- -	- -	- -	- -	-0.33	-0.32	-0.39	-0.19	-0.14	-1.1	-0.6
Net Debt/EBITDA	0.58	2.22	0.97	1.71	1.37	0.41	0.77	1.33	2.23	1.9	0.16	1.73	1.33	1.69	0.34
Total Debt/EBIT	- -	- -	- -	- -	- -	- -	- -	- -	-0.31	-0.32	-0.35	-0.18	-0.13	-0.9	-0.55
Net Debt/EBIT	0.58	2.2	0.97	1.7	1.32	0.4	0.72	1.23	2.09	1.85	0.15	1.61	1.22	1.38	0.31
EBITDA to Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EBITDA-CapEx/Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EBIT to Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Common Equity/Total Assets	-1,910.89	-606.79	-778.86	-780.97	-1,073.01	-2,022.04	-3,785.36	-2,751.91	-1,398.92	-1,900.82	-2,632.74	-2,279.96	-3,227.13	-3,108.51	-5,667.54
Long-Term Debt/Equity (%)	- -	- -	- -	- -	- -	- -	- -	- -	11.52	12.13	12.27	5.58	1.57	44.78	109.28
Long-Term Debt/Capital (%)	- -	- -	- -	- -	- -	- -	- -	- -	-0.71	-0.55	-0.39	-0.22	-0.04	-0.94	-0.81
Long-Term Debt/Total Assets (%)	- -	- -	- -	- -	- -	- -	- -	- -	9.84	10.42	10.21	4.99	1.44	28.87	45.31
Total Debt/Equity (%)	- -	- -	- -	- -	- -	- -	- -	- -	13.83	15.25	17.08	9.68	7.61	49.77	124.92
Total Debt/Capital (%)	- -	- -	- -	- -	- -	- -	- -	- -	-0.85	-0.69	-0.54	-0.38	-0.22	-1.04	-0.92
Total Debt/Total Assets (%)	- -	- -	- -	- -	- -	- -	- -	- -	11.82	13.11	14.22	8.65	6.95	32.09	51.79
Net Debt to Equity	-58.52	-59.2	-49.42	-62.65	-62.94	-34.49	-67.69	-95.8	-93.42	-89.59	-7.13	-88.2	-70.39	-76.57	-71.15
Net Debt/Capital (%)	2.77	8.75	5.89	7.16	5.28	1.56	1.57	2.59	5.44	3.92	0.23	3.35	1.96	1.58	0.52
EBITDA	-4	-4	-6	-4	-4	-4	-2	-2	-3	-3	-2	-2	-2	-1	-2
EBITDA-CapEx	-4	-4	-6	-5	-4	-4	-2	-2	-3	-3	-2	-2	-2	-1	-2
Operating Income (Loss)	-4	-4	-6	-4	-4	-4	-2	-2	-3	-3	-2	-3	-2	-1	-2

Liquidity (USD)

API ChatGPT

	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Cash Ratio	11.8	55.46	67.41	18.79	15.43	8.71	5.54	6.49	17.01	21.11	10.15	14.02	8.92	7.41	2.23
Current Ratio	13.91	59.13	73.59	21.48	18.53	12.43	7.54	8.11	18.86	24.01	13.26	16.3	12.89	10.21	3.84
Quick Ratio	13.37	58.3	72.76	21.23	18.24	11.73	7.44	8	18.71	23.76	12.94	15.97	12.54	9.86	3.6
CFO/Avg Current Liab	-10.78	-9.7	-16.04	-10.31	-7.53	-9.57	-4.31	-5.37	-4.93	-7.34	-6.89	-7.28	-7.92	-2.89	-4.69
Common Equity/Total Assets	-1,910.89	-606.79	-778.86	-780.97	-1,073.01	-2,022.04	-3,785.36	-2,751.91	-1,398.92	-1,900.82	-2,632.74	-2,279.96	-3,227.13	-3,108.51	-5,667.54
Long-Term Debt/Equity (%)	- -	- -	- -	- -	- -	- -	- -	- -	11.52	12.13	12.27	5.58	1.57	44.78	109.28
Long-Term Debt/Capital (%)	- -	- -	- -	- -	- -	- -	- -	- -	-0.71	-0.55	-0.39	-0.22	-0.04	-0.94	-0.81
Long-Term Debt/Total Assets (%)	- -	- -	- -	- -	- -	- -	- -	- -	9.84	10.42	10.21	4.99	1.44	28.87	45.31
Total Debt/Equity (%)	- -	- -	- -	- -	- -	- -	- -	- -	13.83	15.25	17.08	9.68	7.61	49.77	124.92
Total Debt/Capital (%)	- -	- -	- -	- -	- -	- -	- -	- -	-0.85	-0.69	-0.54	-0.38	-0.22	-1.04	-0.92
Total Debt/Total Assets (%)	- -	- -	- -	- -	- -	- -	- -	- -	11.82	13.11	14.22	8.65	6.95	32.09	51.79
CFO/Total Liabilities	-1,081.69	-1,105.27	-1,998.95	-688.61	-764.78	-1,084.69	-468.7	-215.94	-173.56	-258.25	-236.76	-383.22	-689.63	-54.96	-100.84
CFO/CapEx	-267.84	-231.44	-64.21	-5.3	-11.33	-341.91	-224.54	-177.58	-31.9	-39.85	-1,675.3	-1,717.34	-1,473.08	-486.03	-1,830.8
Altman's Z-Score	93.07	178.25	479.01	139.57	145.01	41.32	-6.57	-13.83	25.52	34.02	5.9	32.12	15.26	-19.67	-61.46

Working Capital (USD)

API ChatGPT

	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Accounts Receivable Turnover	2.37	3.83	2.78	1.57	1.61	1.02	1.76	2.31	2.32	1.32	1.77	0.76	1.14	1.61	2.1
Days Sales Outstanding	154.08	95.32	131.34	233.13	226.36	359.04	207.35	157.79	157.03	276.32	206.62	480.6	319.62	227.06	173.65
Inventory Turnover	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Days Inventory Outstanding	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Accounts Payable Turnover	48.87	47.45	90.65	41	46.03	106.6	71.07	- -	- -	- -	- -	- -	- -	- -	- -
Accounts Payable Turnover Days	7.47	7.69	4.03	8.9	7.93	3.42	5.14	- -	- -	- -	- -	- -	- -	- -	- -
Cash Conversion Cycle	146.61	87.63	127.31	224.23	218.43	355.62	202.22	- -	- -	- -	- -	- -	- -	- -	- -
Inventory to Cash Days	154.08	95.32	131.34	233.13	226.36	359.04	207.35	- -	- -	- -	- -	- -	- -	- -	- -
Inventories	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Raw Materials	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Work In Process	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Finished Goods	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Other Inventory	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -

Enterprise Value (USD)

API ChatGPT

	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Market Capitalization	63	75	133	121	125	44	25	40	90	88	54	61	34	57	44
- Cash & Cash Equivalents	2	8	6	8	6	2	2	3	7	5	- -	4	2	2	1
+ Preferred Equity and Hybrid Capital	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Minority/Non Controlling Interest	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Total Debt	- -	- -	- -	- -	- -	- -	- -	- -	1	1	1	- -	- -	1	1
Enterprise Value	59	62	122	112	118	41	23	38	85	85	52	57	32	57	45
Total Capital	-84	-87	-94	-98	-102	-107	-109	-112	-115	-117	-119	-122	-124	-124	-126
Total Debt/Capital (%)	- -	- -	- -	- -	- -	- -	- -	- -	-0.85	-0.69	-0.54	-0.38	-0.22	-1.04	-0.92
Total Debt / EV	- -	- -	- -	- -	- -	- -	- -	- -	0.01	0.01	0.01	0.01	0.01	0.02	0.03
EV/Sales	69.96	31.59	56.3	70.11	58.71	32.8	15.42	25.21	54.17	102.02	41.21	106.52	34.72	42.4	39.76
EV/EBITDA	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/EBIT	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/Cash Flow to Firm	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/Free Cash Flow to Firm	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Diluted Market Cap	63	75	133	121	125	44	25	40	90	88	54	61	34	57	44
Diluted Enterprise Value	60	67	127	114	119	42	23	38	85	85	55	57	32	57	45
EV per Share	3.19	3.07	5.3	4.74	4.91	1.69	0.97	1.45	2.82	2.68	1.64	1.79	0.94	1.69	1.32
TTM Sales	1	2	2	2	2	1	2	1	2	1	1	1	1	1	1
TTM EBITDA	-4	-4	-6	-4	-4	-4	-2	-2	-3	-3	-2	-2	-2	-1	-2
TTM Operating Income	-4	-4	-6	-4	-4	-4	-2	-2	-3	-3	-2	-3	-2	-1	-2
TTM Cash Flow to Firm	-3	-3	-3	-3	-4	-4	-1	-2	-2	-2	-2	-2	-2	-1	-1
TTM Free Cash Flow to Firm	-3	-3	-3	-3	-3	-4	-1	-2	-2	-2	-2	-2	-2	-1	-1

Multiples (USD)

API ChatGPT

	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Price/Free Cash Flow	-18.82	-28.22	-41.52	-44.94	-38.31	-10.96	-17.08	-19.66	-44.78	-40.29	-30.19	-28.08	-14.73	-72.82	-33.18
EV/EBIT	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Enterprise Value	59	62	122	112	118	41	23	38	85	85	52	57	32	57	45
Low Price	3.07	2.79	2.93	4.28	4.34	1.65	0.86	0.6	1.48	1.66	1.65	1.34	0.9	0.93	0.93
EV/Sales	69.96	31.59	56.3	70.11	58.71	32.8	15.42	25.21	54.17	102.02	41.21	106.52	34.72	42.4	39.76
EV/EBITDA	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Earnings	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Earnings Average	-22.74	-22.4	-16.17	-29.42	-30.03	-19.67	-13.09	-10.61	-24	-42.43	-46.15	-23.96	-26.89	-44.11	-25.11
Price/Earnings High	-46.14	-32.83	-29.02	-40.74	-37.19	-29.5	-21.42	-18.84	-42.39	-76.67	-97.01	-34.24	-40.32	-61.6	-44.41
Price/Earnings Low	-13.77	-17.72	-11.13	-22.95	-24.35	-9.36	-8.59	-5.75	-11.67	-22.33	-28.28	-16.1	-15.78	-23.66	-15.3
Price/Book Value	-0.74	-0.86	-1.42	-1.23	-1.22	-0.41	-0.23	-0.36	-0.78	-0.75	-0.45	-0.5	-0.27	-0.46	-0.35
Price/Book Value Average	-1.11	-0.81	-1.04	-1.32	-1.25	-0.78	-0.29	-0.26	-0.79	-0.84	-0.71	-0.52	-0.41	-0.46	-0.4
Price/Book Value High	-2.26	-1.19	-1.87	-1.83	-1.55	-1.17	-0.47	-0.45	-1.4	-1.52	-1.5	-0.75	-0.62	-0.64	-0.71
Price/Book Value Low	-0.67	-0.64	-0.72	-1.03	-1.02	-0.37	-0.19	-0.14	-0.38	-0.44	-0.44	-0.35	-0.24	-0.25	-0.25
Price/Tangible Book Value	15.3	5.31	11.17	10.03	13.78	8.92	9.74	13.06	12.8	16.61	14.39	12.77	9.61	22.01	47.21
Price/Tangible Book Value Average	22.89	5.01	8.23	10.75	14.16	17	12.31	9.2	12.96	18.64	22.52	13.33	14.59	22.21	55.02
Price/Tangible Book Value High	46.44	7.34	14.77	14.88	17.54	25.49	20.14	16.33	22.88	33.69	47.34	19.05	21.87	31.02	97.31
Price/Tangible Book Value Low	13.86	3.96	5.66	8.38	11.48	8.09	8.07	4.98	6.3	9.81	13.8	8.96	8.56	11.91	33.52
Price/Sales	74.29	38.45	61.36	75.78	62.31	35.4	16.57	27.2	57.76	106.8	43.1	113.5	37.15	42.92	39.31
Price/Sales Average	111.12	36.27	45.19	81.23	64.02	67.45	20.94	19.15	58.46	119.88	67.46	118.51	56.42	43.31	45.81
Price/Sales High	225.49	53.16	81.11	112.48	79.29	101.15	34.26	34	103.24	216.65	141.82	169.36	84.59	60.49	81.03
Price/Sales Low	67.27	28.69	31.11	63.35	51.9	32.09	13.74	10.37	28.42	63.09	41.34	79.63	33.1	23.23	27.91
Price/Cash Flow	-18.74	-28.09	-40.87	-36.45	-34.93	-10.93	-17	-19.55	-43.37	-39.28	-30.17	-28.06	-14.72	-72.67	-33.16
Price/Cash Flow Average	-28.04	-26.5	-30.1	-39.07	-35.89	-20.81	-21.49	-13.76	-43.9	-44.09	-47.22	-29.3	-22.36	-73.33	-38.65
Price/Cash Flow High	-56.9	-38.84	-54.03	-54.1	-44.45	-31.21	-35.15	-24.44	-77.52	-79.67	-99.27	-41.87	-33.53	-102.41	-68.35
Price/Cash Flow Low	-16.98	-20.96	-20.72	-30.47	-29.1	-9.9	-14.1	-7.46	-21.34	-23.2	-28.94	-19.69	-13.12	-39.33	-23.54
Price/Free Cash Flow Average	-28.14	-26.61	-30.58	-48.17	-39.37	-20.88	-21.58	-13.84	-45.32	-45.22	-47.25	-29.32	-22.38	-73.48	-38.67
Price/Free Cash Flow High	-57.11	-39.01	-54.88	-66.7	-48.76	-31.31	-35.31	-24.58	-80.03	-81.72	-99.33	-41.9	-33.55	-102.62	-68.39
Price/Free Cash Flow Low	-17.04	-21.05	-21.05	-37.56	-31.92	-9.93	-14.16	-7.5	-22.03	-23.8	-28.96	-19.7	-13.13	-39.41	-23.56
EV/Sales Average	108.28	31.98	42.48	76.5	61.17	66.08	19.79	17.15	54.87	115.1	67.76	111.53	53.99	42.79	46.26
EV/Sales High	222.64	48.87	78.4	107.75	76.44	99.78	33.1	32.01	99.64	211.87	142.11	162.38	82.16	59.97	81.47
EV/Sales Low	64.43	24.4	28.39	58.61	49.06	30.73	12.59	8.38	24.83	58.31	41.64	72.65	30.67	22.71	28.36
EV/EBITDA Average	-22.21	-16.56	-15.22	-27.69	-29.36	-20.02	-13.31	-11.41	-29.05	-37.99	-51.48	-24.57	-26.39	-48.5	-26.66
EV/EBITDA High	-45.68	-25.3	-28.08	-39	-36.69	-30.23	-22.27	-21.3	-52.76	-69.92	-107.98	-35.77	-40.16	-67.97	-46.96
EV/EBITDA Low	-13.22	-12.63	-10.17	-21.22	-23.54	-9.31	-8.47	-5.58	-13.15	-19.24	-31.64	-16	-14.99	-25.74	-16.34
EV/EBIT Average	-22	-16.4	-15.1	-27.49	-28.41	-19.14	-12.34	-10.56	-27.25	-37	-46.54	-22.93	-24.15	-39.63	-24.33
EV/EBIT High	-45.24	-25.07	-27.87	-38.72	-35.5	-28.9	-20.66	-19.7	-49.49	-68.1	-97.61	-33.38	-36.76	-55.54	-42.84
EV/EBIT Low	-13.09	-12.52	-10.1	-21.06	-22.78	-8.9	-7.85	-5.16	-12.33	-18.74	-28.6	-14.94	-13.72	-21.03	-14.91
Last Price	3.39	3.74	5.78	5.12	5.21	1.82	1.04	1.56	3.01	2.81	1.72	1.91	1.01	1.71	1.31
High Price	10.29	5.17	7.64	7.6	6.63	5.2	2.15	1.95	5.38	5.7	5.66	2.85	2.3	2.41	2.7
Enterprise Value Average	92	63	92	122	123	82	30	26	86	95	86	60	49	57	52
Enterprise Value High	188	96	169	172	153	123	50	48	156	176	179	88	75	80	91
Enterprise Value Low	55	48	61	94	98	38	19	12	39	48	53	39	28	30	32

Shares Outstanding	19	23	23	24	24	24	24	28	31	32	32	33	34	34	34
Diluted Weighted Avg Shares	19	20	23	24	24	24	24	26	30	31	32	32	33	34	34
Basic Weighted Avg Shares	19	20	23	24	24	24	24	26	30	31	32	32	33	34	34
Revenue per Share	0.05	0.1	0.09	0.07	0.08	0.05	0.06	0.06	0.05	0.03	0.04	0.02	0.03	0.04	0.03
EBITDA per Share	-0.22	-0.19	-0.26	-0.19	-0.17	-0.17	-0.09	-0.09	-0.1	-0.08	-0.05	-0.08	-0.06	-0.04	-0.06
Operating Income per Share	-0.22	-0.19	-0.26	-0.19	-0.18	-0.18	-0.1	-0.09	-0.1	-0.08	-0.06	-0.08	-0.06	-0.04	-0.06
Basic EPS, GAAP	-0.22	-0.16	-0.26	-0.19	-0.18	-0.18	-0.1	-0.1	-0.13	-0.07	-0.06	-0.08	-0.06	-0.04	-0.06
Basic EPS from Cont Ops	-0.22	-0.16	-0.26	-0.19	-0.18	-0.18	-0.1	-0.1	-0.13	-0.07	-0.06	-0.08	-0.06	-0.04	-0.06
Diluted EPS, GAAP	-0.22	-0.16	-0.26	-0.19	-0.18	-0.18	-0.1	-0.1	-0.13	-0.07	-0.06	-0.08	-0.06	-0.04	-0.06
Diluted EPS from Cont Ops	-0.22	-0.16	-0.26	-0.19	-0.18	-0.18	-0.1	-0.1	-0.13	-0.07	-0.06	-0.08	-0.06	-0.04	-0.06
Dividend per Share	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash Flow per Share	-0.18	-0.13	-0.14	-0.14	-0.15	-0.17	-0.06	-0.08	-0.07	-0.07	-0.06	-0.07	-0.07	-0.02	-0.04
Free Cash Flow per Basic Share	-0.18	-0.13	-0.14	-0.17	-0.16	-0.17	-0.06	-0.08	-0.07	-0.07	-0.06	-0.07	-0.07	-0.02	-0.04
Cash & Equivalents per Share	0.2	0.67	0.48	0.38	0.3	0.13	0.07	0.11	0.22	0.15	0.1	0.13	0.07	0.06	0.02
Book Value per Share	-4.55	-4.35	-4.08	-4.15	-4.27	-4.44	-4.54	-4.3	-3.85	-3.74	-3.78	-3.82	-3.71	-3.75	-3.79
Tangible Book Value per Share	0.22	0.7	0.52	0.51	0.38	0.2	0.11	0.12	0.24	0.17	0.12	0.15	0.11	0.08	0.03

Research Frontiers Incorporated

Profitability (USD)

Credit (USD)

Liquidity (USD)

Working Capital (USD)

Enterprise Value (USD)

Multiples (USD)

Per Share Data Items (USD)