MSFT
Microsoft Corporation
MSFT's fundamentals are strong and it looks cheap: trading at 27x earnings, below its usual 34x. Analysts expect strong earnings growth.
REFR
Research Frontiers Incorporated
There isn't enough reported data to score REFR yet.
MSFT Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Strong | |
| Healthy | |
| Strong |
MSFT's revenue, profitability, cash flow and balance sheet are all currently healthy.
REFR Fundamentals
| Metric | Status |
|---|---|
| Under pressure | |
| Weak | |
| Weak | |
| Unavailable |
REFR's revenue, profitability and cash flow are currently under pressure. There isn't enough data to rate its balance sheet.
MSFT PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Forward | 25x | $523 | — |
| Cheap | 27x | $525 | +0.4% |
| Current | 27x | $523 | — |
| Fair | 34x | $652 | +25% |
| Expensive | 37x | $711 | +36% |
Historical ranges are pointers, not guarantees.
MSFT's PE is in its cheap range at 27x. If earnings grow as analysts expect, today's price would be 25x next year's earnings.
REFR PE Valuation
REFR has no meaningful PE right now: it lost money over the past year.
MSFT Forward outlook
| Metric | Outlook |
|---|---|
| Improving | |
| Strong growth | |
| Strong growth | |
| Stable | |
| Moderate | |
| High |
Analysts expect strong earnings and revenue growth for MSFT, with profitability holding steady.
REFR Forward outlook
There aren't enough analyst estimates for REFR to show an outlook.
MSFT Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $20.79 | +8.6% |
| Q3 2026 | $19.15 | +36% |
| Q2 2026 | $17.95 | +32% |
| Q1 2026 | $16.80 | +30% |
| Q4 2025 | $15.99 | +29% |
| Q3 2025 | $14.06 | +16% |
| Q2 2025 | $13.64 | +16% |
| Q1 2025 | $12.93 | +12% |
| Q4 2024 | $12.41 | +12% |
MSFT has the edge over REFR on earnings quality, reporting a profit while its opponent remains loss making.
REFR Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Q3 2026 | -$0.07 | $0.00 |
| Q2 2026 | -$0.07 | -$0.01 |
| Q1 2026 | -$0.07 | -$0.03 |
| Q4 2025 | -$0.06 | -$0.02 |
| Q3 2025 | -$0.07 | -$0.03 |
| Q2 2025 | -$0.06 | -$0.01 |
| Q1 2025 | -$0.04 | +$0.02 |
| Q4 2024 | -$0.04 | +$0.02 |
REFR is still losing money, but less than at its worst: $0.07 per share over the past year, against $0.13 at its worst in late 2019.
MSFT Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $92.3B | +19% |
| Q2 2026 | $90B | +18% |
| Q1 2026 | $82.9B | +18% |
| Q4 2025 | $81.3B | +17% |
| Q3 2025 | $77.7B | +18% |
| Q2 2025 | $76.4B | +18% |
| Q1 2025 | $70.1B | +13% |
| Q4 2024 | $69.6B | +12% |
MSFT has the edge over REFR on sales, with more consistent year-over-year improvement.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 50% | +0.9 points |
| Q2 2026 | 45% | +0.2 points |
| Q1 2026 | 46% | +0.7 points |
| Q4 2025 | 47% | +1.6 points |
| Q3 2025 | 49% | +2.3 points |
| Q2 2025 | 45% | +1.8 points |
| Q1 2025 | 46% | +1.1 points |
| Q4 2024 | 45% | +1.9 points |
MSFT has the edge over REFR on profitability, with a higher operating margin.
REFR Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $77K | -79% |
| Q2 2026 | $86.3K | -34% |
| Q1 2026 | $136.3K | -76% |
| Q4 2025 | $72.1K | -60% |
| Q3 2025 | $359.4K | +1.4% |
| Q2 2025 | $129.9K | -73% |
| Q1 2025 | $559.8K | +79% |
| Q4 2024 | $178.2K | -43% |
REFR's revenue has slid since its 2021 peak: $77,041 last quarter, down 79% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | -673% | -588 points |
| Q2 2026 | -776% | -148 points |
| Q1 2026 | -389% | -346 points |
| Q4 2025 | -1073% | -722 points |
| Q3 2025 | -85% | -19 points |
| Q2 2025 | -627% | -604 points |
| Q1 2025 | -43% | +107 points |
| Q4 2024 | -350% | -189 points |
REFR's operating margin was −673% last quarter, down 588 points from the same quarter a year ago.
MSFT Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $18.6B | -27% |
| Q2 2026 | $19.6B | -23% |
| Q1 2026 | $15.8B | -22% |
| Q4 2025 | $5.9B | -9.3% |
| Q3 2025 | $25.7B | +33% |
| Q2 2025 | $25.6B | +9.6% |
| Q1 2025 | $20.3B | -3.2% |
| Q4 2024 | $6.5B | -29% |
MSFT has the edge over REFR on cash generation, producing positive trailing cash flow while its opponent burns cash.
REFR Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | -$443.3K | -$299.4K |
| Q2 2026 | -$191.3K | -$112.8K |
| Q1 2026 | -$760K | -$118.6K |
| Q4 2025 | -$466.1K | -1109% |
| Q3 2025 | -$143.9K | +$114.6K |
| Q2 2025 | -$78.5K | +$108.4K |
| Q1 2025 | -$641.4K | -$250.2K |
| Q4 2024 | $46.2K | +$595.2K |
REFR has burned cash in almost every quarter: −$2M over the past year, against −$817,597 the year before.
MSFT Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -0.1% | -7M shares |
| 1 year | -0.3% | -20M shares |
| 3 years | -0.2% | -16M shares |
| 5 years | -1.6% | -121M shares |
| Available history | -3.2% | -245M shares |
MSFT has the edge over REFR on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q3 2026 | $4.4B |
| Q2 2026 | $4.6B |
| Q1 2026 | $4.6B |
| Q4 2025 | $7.4B |
| Q3 2025 | $5.7B |
| Q2 2025 | $4.5B |
| Q1 2025 | $4.8B |
| Q4 2024 | $5B |
MSFT spent $21B buying back its own shares over the past year, up 5.2% from the year before.
REFR Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | 0% | -- |
| 1 year | +3.6% | +1.2M shares |
| 3 years | +4.1% | +1.4M shares |
| 5 years | +10% | +3.2M shares |
| Available history | +16% | +4.9M shares |
REFR has 35M diluted shares, up 3.6% from a year ago.
MSFT Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 0.1x | Very low |
| Q2 2026 | 0.1x | Very low |
MSFT's net debt is less than a year of its operating earnings (EBITDA).
REFR Net Leverage
REFR's operating earnings (EBITDA) were negative over the past year, so its debt can't be measured against them.
MSFT Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 62.1 | Neutral |
| Stochastic | 68.0 | Neutral |
MSFT's weekly RSI is 62 (neutral) and its Stochastic is 68 (neutral).
REFR Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 37.1 | Neutral |
| Stochastic | 4.7 | Oversold |
REFR's weekly RSI is 37 (neutral) and its Stochastic is 5 (oversold).
MSFT PE vs Technology Sector
| Metric | MSFT | Sector median | Relative |
|---|---|---|---|
| PE | 27x | 28x | 2% below |
| PE % | 16 | 35 | 19 pts below |
MSFT is trading at 27x earnings, in line with the Technology sector's median of 28x.
REFR PE vs Technology Sector
REFR has no meaningful PE right now: it lost money over the past year.
MSFT Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $524.7 | 0.3% below |
| 20 week MA | $484.8 | 7.9% above |
| 50 week MA | $446.9 | 17% above |
| 100 week MA | $453.8 | 15% above |
| 200 week MA | $411.5 | 27% above |
MSFT has the edge over REFR on trend strength, trading above more of its moving averages.
REFR Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $0.53 | 32% below |
| 20 week MA | $0.50 | 28% below |
| 50 week MA | $0.81 | 56% below |
| 100 week MA | $1.18 | 69% below |
| 200 week MA | $1.40 | 74% below |
REFR is in a downtrend: it's below all five of its weekly moving averages, and 74% below its 200-week average.
MSFT Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $159.0 | $222.8 | +40% |
| 2021 | $222.8 | $334.7 | +50% |
| 2022 | $334.7 | $238.7 | -29% |
| 2023 | $238.7 | $376.0 | +58% |
| 2024 | $376.0 | $430.5 | +14% |
| 2025 | $430.5 | $487.7 | +13% |
| 2026 YTD | $487.7 | $523.0 | +7.2% |
MSFT has the edge over REFR on returns for 2026, with the stronger performance.
REFR Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $3.07 | $2.81 | -8.5% |
| 2021 | $2.81 | $1.75 | -38% |
| 2022 | $1.75 | $2.03 | +16% |
| 2023 | $2.03 | $1.01 | -50% |
| 2024 | $1.01 | $1.63 | +61% |
| 2025 | $1.63 | $1.38 | -15% |
| 2026 YTD | $1.38 | $0.36 | -74% |
REFR has finished lower in four of the last six years. It's down 74% so far in 2026.