# Rafael Holdings, Inc. (RFL)

> Source: Nexqual · https://nexqual.com/RFL · data as of 2026-10-22 20:00 UTC · cite as "Nexqual, Rafael Holdings, Inc. (RFL), nexqual.com/RFL" · informational, not investment advice.

**Price:** USD 1.28 (-1.54% on the day) · last close of Oct 22, 2026; US market pre market, not a live price. Prev close 1.3 · day 1.25–1.29 · 52w 1.12–3.96 · market cap $66.6M · NYQ

## Key facts
- Last four reported quarters (through Apr 30, 2026): revenue $980K, net income -$20.7M (-2117.2% margin) (SEC filings).
- 1 of 80 tracked superinvestors hold RFL (13F, Q2 2026): 0 new, 0 added, 0 reduced, 1 unchanged.
- Total return with dividends: 1Y -5.9% vs S&P 500 +14.9%; 5Y -95.8% vs S&P 500 +80.3%.
- Next earnings: 2026-10-28, EPS estimate USD —, revenue estimate $0K.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $802K | $410K | $279K | $637K | $917K | $980K |
| Gross profit | -$2.4M | -$3.1M | — | $483K | — | — |
| Operating income | -$28.2M | -$60.5M | -$15.0M | -$103M | -$29.2M | -$36.4M |
| Net income | -$23.1M | -$125M | -$1.9M | -$34.4M | -$30.5M | -$20.7M |
| EPS (diluted) | -$1.47 | -$6.22 | -$0.08 | -$1.45 | -$1.04 | — |
| Free cash flow | -$15.8M | -$26.1M | — | -$7.9M | -$18.9M | — |
| Gross margin | -295.1% | -753.4% | — | 75.8% | — | — |
| Operating margin | -3516.1% | -14750.5% | -5391.8% | -16111.0% | -3179.8% | -3717.2% |
| Net margin | -2875.4% | -30404.4% | -672.4% | -5401.9% | -3328.2% | -2117.2% |
| Revenue growth | -83.7% | -48.9% | -32.0% | +128.3% | +44.0% | — |
| Cash + short-term investments | $7.9M | $63.2M | $79.2M | $65.9M | — | — |
| Total debt | — | — | — | $73K | $78K | — |
Fiscal years end Jul. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Apr 30, 2026)
P/S 67.9x · P/B 0.9x · Earnings yield -31.17%

## Superinvestors (SEC 13F-HR, Q2 2026)
1 of 80 tracked investors hold RFL. Each row is the investor's latest 13F; change is vs their prior-quarter share count.
| Investor | Firm | % of portfolio | Value | Change |
|---|---|---|---|---|
| Kahn Brothers | Kahn Brothers Group | 0.01% | $73K | Unchanged |

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-23) | 5Y (from 2021-10-18) |
|---|---|---|
| Total return | -5.9% | -95.8% |
| S&P 500 (SPY) | +14.9% | +80.3% |
| Per year | -5.9% | -46.9% |
| Volatility (annualized) | 87.1% | 86.4% |
| Max drawdown | -66.1% (Jul 2026→Oct 2026) | -96.2% (Oct 2021→Jan 2026) |

## Peers (Real Estate Services)
OPEN (Opendoor Technologies Inc) USD 2.02 +3.59% · CWK (Cushman & Wakefield Ltd.) USD 12.1 +4.49% · IHS (IHS Holding Limited) USD 8.45 +0.24% · NMRK (Newmark Group, Inc.) USD 11.82 +2.96% · CIGI (Colliers International Group In) USD 96.46 +4.00% · FSV (FirstService Corporation) USD 147.22 +7.78%

## More
Full page: https://nexqual.com/RFL · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Supply chain and relationships (SEC annual reports)

Named in RFL's own 10-K filed 2025-10-29 (https://www.sec.gov/Archives/edgar/data/1713863/000121390025103549/ea0262395-10k_rafael.htm):

| Relationship | Company | Sentence in the filing |
|---|---|---|
| Supplier | Rafael Medical Devices | "to manufacture our, the Pharmaceutical Companies' product candidates and Rafael Medical Devices' device candidates." |
| Partner | Farber Partners | "Since then, we have sought partners for Farber programs and has entered into a license agreement for one of its technologies" |
| Partner | Medical Devices | "Medical Devices or their collaborators or us could cause substantial liabilities and could limit commercialization of any medical devices" |
| Competitor | Johnson & Johnson (JNJ) | "competition from Actelion, a subsidiary of Johnson & Johnson , Zevra Therapeutics, Inc., Mandos Health, Azafaros, and IntraBio, among" |

## Revenue by product line (quarter ended 2026-04-30)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| Product Revenue | $89,000 | 49.7% | -63.4% |
| Rental Third Party | $60,000 | 33.5% | +22.4% |
| Rental Related Party | $30,000 | 16.8% | +7.1% |
| Total revenue | $179,000 | 100% | — |

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter | — | — | — | $0 | — |
| Next quarter | — | — | — | $0 | — |
| Current fiscal year | — | — | — | $0 | — |
| Next fiscal year | — | — | — | $0 | — |