Is REFR or SELX more undervalued in 2026?

CirclFi compares Research Frontiers Incorporated (REFR) and Semilux International Ltd. (SELX) using 13 institutional-grade valuation models. REFR has a Quality of Company score of 5.7/10 while SELX scores 4.5/10.

Which is a better buy — REFR or SELX?

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 SELX valuations compare?

REFR at $0.76 and SELX at $0.27 are compared across Bayesian DCF, EPV, EROIC Spread, First Chicago, Markov DDM, and 8 additional models.

REFR vs SELX Valuation Comparison 2026 — Intrinsic Value Analysis

REFR

Electronic Components

Research Frontiers Incorporated

Quality

5.7

out of 10

Value Trap

SAFE

Price

$0.76

Last close

Models

8/13

Active

SELX

Electronic Components

Semilux International Ltd.

Quality

4.5

out of 10

Value Trap

SAFE

Price

$0.27

Last close

Models

7/13

Active

Model-by-Model Comparison

Model	Type	REFR Fair Value	REFR Upside	SELX Fair Value	SELX Upside
Bayesian DCF	Intrinsic	$0.21	-72.2%	$0.19	-33.3%
First Chicago	Scenario	$•••.••	••.•%	$•••.••	••.•%
ML-RIV	Intrinsic	—	—	$0.14	-49.6%
Dynamic NAV	Asset-Based	$0.18	-76.1%	—	—
PWERM	Option-Based	$•••.••	••.•%	$•••.••	••.•%
Regime Cross-Sectional	Relative	$•••.••	••.•%	$•••.••	••.•%
Sentiment SOTP	Hybrid	$•••.••	••.•%	$•••.••	••.•%
CUCE Ensemble	Ensemble	$•••.••	••.•%	$•••.••	••.•%
FTNN Topology	Relative	$•••.••	••.•%	$•••.••	••.•%

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REFR vs SELX — Which Stock Is More Undervalued?

REFR scores higher with a 5.7/10 quality rating vs SELX's 4.5/10. Both stocks are analyzed daily using SEC EDGAR filings across 13 independent models.

Comparing Research Frontiers Incorporated (REFR) and Semilux International Ltd. (SELX) 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 $0.76 with a QOC of 5.7/10, while SELX trades at $0.27 with a QOC of 4.5/10.

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).