Is REFR or RMCO more undervalued in 2026?

CirclFi compares Research Frontiers Incorporated (REFR) and Royalty Management Holding Corp (RMCO) using 13 institutional-grade valuation models. REFR has a Quality of Company score of 5.7/10 while RMCO scores 5.5/10.

Which is a better buy — REFR or RMCO?

Compare intrinsic values from 13 independent models against current market prices. CirclFi also calculates Value Trap scores. This is not financial advice — conduct your own analysis.

How do REFR and RMCO valuations compare?

REFR at $0.77 and RMCO at $2.30 are compared across Bayesian DCF, EPV, EROIC Spread, First Chicago, Markov DDM, and 8 additional models.

REFR vs RMCO Valuation Comparison 2026 — Intrinsic Value Analysis

REFR

Patent Owners & Lessors

Research Frontiers Incorporated

Quality

5.7

out of 10

Value Trap

SAFE

Price

$0.77

Last close

Models

8/13

Active

RMCO

Patent Owners & Lessors

Royalty Management Holding Corp

Quality

5.5

out of 10

Value Trap

SAFE

Price

$2.30

Last close

Models

11/13

Active

Model-by-Model Comparison

Model	Type	REFR Fair Value	REFR Upside	RMCO Fair Value	RMCO Upside
Bayesian DCF	Intrinsic	$0.21	-72.9%	$0.20	-91.5%
Earnings Power Value	Intrinsic	—	—	$0.14	-95.1%
EROIC Spread	Intrinsic	$•••.••	••.•%	$•••.••	••.•%
First Chicago	Scenario	$•••.••	••.•%	$•••.••	••.•%
ML-RIV	Intrinsic	$•••.••	••.•%	$•••.••	••.•%
Dynamic NAV	Asset-Based	$0.18	-76.4%	$0.79	-65.8%
PWERM	Option-Based	$•••.••	••.•%	$•••.••	••.•%
Regime Cross-Sectional	Relative	$•••.••	••.•%	$•••.••	••.•%
Sentiment SOTP	Hybrid	$•••.••	••.•%	$•••.••	••.•%
CUCE Ensemble	Ensemble	$•••.••	••.•%	$•••.••	••.•%
FTNN Topology	Relative	$•••.••	••.•%	$•••.••	••.•%

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REFR vs RMCO — Which Stock Is More Undervalued?

REFR scores higher with a 5.7/10 quality rating vs RMCO's 5.5/10. Both stocks are analyzed daily using SEC EDGAR filings across 13 independent models.

Comparing Research Frontiers Incorporated (REFR) and Royalty Management Holding Corp (RMCO) across 13 institutional-grade valuation models reveals how each company's intrinsic value stacks up against its market price. CirclFi's engine processes SEC EDGAR 10-K and 10-Q filings, FRED macroeconomic data, and GDELT news sentiment to generate independent fair value estimates daily.

REFR currently trades at $0.77 with a QOC of 5.7/10, while RMCO trades at $2.30 with a QOC of 5.5/10.

Both companies are analyzed with models spanning intrinsic (Bayesian DCF, EPV), scenario-based (First Chicago), regime-switching (Markov DDM, RCMH-DCF), machine learning (ML-RIV, FTNN Topology), and ensemble methods (CUCE).