Research Frontiers price to book ratio REFR

Market value divided by the book value of the company's net assets, since 2011.

Today, Oct 23, 2026: 14.3×
10-year median: 14.4×
Against its 10-year history: 49th; percentile: 0 is its lowest day, 100 its highest
10-year range: 4.9× to 44.7×
Peer median: 1.7×

Research Frontiers' price to book ratio is 14.3× as of Oct 23, 2026.

That is below its ten-year median of 14.4×, close to the middle of its last ten years.

Over that time it ranged from 4.9× in Jun 2018 to 44.7× in Nov 2025.

The median for 4 asset managers of a similar size is 1.7×.

Price to book ratio over time

median 14.4×

The dashed line is the 10-year median and the shaded band the middle half of its days.

Open the interactive chart, with overlays and comparisons

Year by year

Year	End of year	Low	High
2026 so far	14.3×	7.8×	37.5×
2025	31.0×	12.5×	44.7×
2024	19.4×	8.6×	27.2×
2023	8.8×	8.2×	14.0×
2022	11.8×	10.0×	34.1×
2021	12.5×	12.5×	28.3×
2020	15.1×	8.0×	25.1×
2019	12.2×	11.2×	34.2×
2018	10.2×	4.9×	16.8×
2017	7.9×	6.2×	9.3×
2016	7.0×	6.8×	13.4×
2015	12.1×	9.2×	13.4×
2014	9.7×	8.6×	13.3×
2013	10.6×	5.4×	13.2×
2012	8.9×	8.5×	31.0×
2011	12.8×	11.4×	14.7×

Against its peers

Companies in Asset Management nearest Research Frontiers' size, closest first, today.

Company	Price to book ratio
REFRResearch Frontiers	14.3×
GROWU S Global Investors	0.7×
HNNAHennessy Advisors	0.8×
JYNTJOINT	6.4×
SAMGSilvercrest Asset Management	2.6×
Peer median	1.7×

What the price to book ratio tells you

Market value divided by the accounting value of the company's net assets. Below 1 means the market values the business at less than what it owns on paper.

Book value misses brands, software and people, so asset-light companies always look expensive on it. Most useful for banks and industrials.

More on Research Frontiers

Valuation data, not investment advice. Prices as of Oct 23, 2026. Reported figures come from the company's filings with the SEC.