WallStSmart

Research Frontiers Incorporated (REFR)vsTurtle Beach Corporation (TBCH)

VS

Smart Verdict

WallStSmart Research — data-driven comparison

Turtle Beach Corporation generates 42633% more annual revenue ($298.19M vs $697,790). TBCH leads profitability with a 0.4% profit margin vs 0.0%. TBCH appears more attractively valued with a PEG of 1.00. TBCH earns a higher WallStSmart Score of 43/100 (D).

REFR

Avoid

15

out of 100

Grade: F

Growth: 5.3Profit: 2.5Value: 5.7Quality: 5.5
Piotroski: 3/9Altman Z: -80.97

TBCH

Hold

43

out of 100

Grade: D

Growth: 4.0Profit: 3.5Value: 5.0Quality: 7.0
Piotroski: 5/9Altman Z: 1.83
IV

Intrinsic Value Comparison

Multi-model valuation · Graham Formula

REFRUndervalued (+80.5%)

Margin of Safety

+80.5%

Fair Value

$5.33

Current Price

$0.74

$4.59 discount

UndervaluedFair: $5.33Overvalued

Intrinsic value data unavailable for TBCH.

Key Strengths & Concerns

Side-by-side fundamental analysis

Key Strengths

REFR0 strengths · Avg: 0/10

No standout strengths identified

TBCH2 strengths · Avg: 8.0/10
PEG RatioValuation
1.008/10

Growing faster than its price suggests

Price/BookValuation
1.9x8/10

Reasonable price relative to book value

Areas to Watch

REFR4 concerns · Avg: 3.5/10
Price/BookValuation
14.8x4/10

Trading at 14.8x book value

EPS GrowthGrowth
0.0%4/10

0.0% earnings growth

Market CapQuality
$25.73M3/10

Smaller company, higher risk/reward

Profit MarginProfitability
0.0%3/10

0.0% margin — thin

TBCH4 concerns · Avg: 3.3/10
Altman Z-ScoreHealth
1.834/10

Grey zone — moderate risk

Market CapQuality
$265.76M3/10

Smaller company, higher risk/reward

Return on EquityProfitability
1.1%3/10

ROE of 1.1% — below average capital efficiency

Profit MarginProfitability
0.4%3/10

0.4% margin — thin

Comparative Analysis Report

WallStSmart Research

Bull Case : REFR

REFR has a balanced fundamental profile.

Bull Case : TBCH

The strongest argument for TBCH centers on PEG Ratio, Price/Book. PEG of 1.00 suggests the stock is reasonably priced for its growth.

Bear Case : REFR

The primary concerns for REFR are Price/Book, EPS Growth, Market Cap.

Bear Case : TBCH

The primary concerns for TBCH are Altman Z-Score, Market Cap, Return on Equity. A P/E of 669.5x leaves little room for execution misses. Thin 0.4% margins leave little buffer for downturns.

Key Dynamics to Monitor

TBCH carries more volatility with a beta of 2.29 — expect wider price swings.

TBCH is growing revenue faster at -34.0% — sustainability is the question.

TBCH generates stronger free cash flow (29M), providing more financial flexibility.

Monitor ELECTRONIC COMPONENTS industry trends, competitive dynamics, and regulatory changes.

Bottom Line

TBCH scores higher overall (43/100 vs 15/100). REFR offers better value entry with a 80.5% margin of safety. Both earn "Hold" and "Avoid" ratings respectively — the choice depends on your investment horizon and risk tolerance.

This analysis is generated from publicly available financial data. Not financial advice.

Research Frontiers Incorporated

TECHNOLOGY · ELECTRONIC COMPONENTS · USA

Research Frontiers Incorporated develops and markets technology and devices to control the flow of light globally. The company is headquartered in Woodbury, New York.

Turtle Beach Corporation

TECHNOLOGY · CONSUMER ELECTRONICS · USA

Turtle Beach Corporation is an audio technology company in North America, Europe, the Middle East, and the Asia Pacific. The company is headquartered in White Plains, New York.

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