Rafael Holdings, Inc. (RFL)

Rafael Holdings, Inc. primarily engages in holding interests in clinical and early-stage pharmaceutical companies in the United States and Israel. It operates in three segments, Healthcare, Infusion Technology, and Real Estate. Its lead drug candidate is Trappsol Cyclo, which is in phase 3 clinical trial being evaluated for the potential treatment of Niemann-Pick Disease Type C (NPC), a rare, fatal and progressive genetic disorder; and CPI-613 (devimistat), a stable analog of normally transient, acylated catalytic intermediates of lipoate. The company is also involved in developing Promitil, a pegylated liposomal mitomycin-C lipidic prodrug which is designed molecule designed for the targeted delivery of mitomycin-C in a proprietary prodrug form. In addition, it develops surgical and procedural devices, including orthopedic arthroscopy instrument for carpal and cubital tunnel syndrome. Further, the company provides technological solutions specifically engineered for increased bioavailability of cannabinoids. Rafael Holdings, Inc. was incorporated in 2017 and is headquartered in Newark, New Jersey.

Ticker: RFL
Exchange: NYSE
Sector: Real Estate
Industry: Real Estate Services
Market cap: $54.27M
52-week range: $0.99 - $3.96

Valuation

Share price: $1.04 (close of Nov 6, 2026)
P/E (TTM): -1.79x
Price to book: 0.75x
Price to free cash flow: -1.81x
Enterprise value: $32.78M
Book value per share: $1.38

Price performance

Period	Change
1 day	-1.89%
5 days	-3.70%
1 month	-30.20%
3 months	-48.51%
6 months	-16.80%
Year to date	-11.86%
1 year	-20.00%
3 years	-41.57%
5 years	-86.13%
All time	-78.48%

Short interest

As of: Oct 15, 2026
Short % of float: 1.60%
Shares short: 348.36K
Days to cover: 2.72
Change since prior report: -55.85%
Source: FINRA consolidated short interest

Profitability and growth

Return on equity: -41.18%
Return on invested capital: -46.01%
Return on assets: -35.68%
Return on capital employed: -46.36%
Gross margin: 71.85%
Net margin: -3,390.73%
EBITDA margin: -3,799.20%
Revenue growth: -4.69%

Cash flow and balance sheet

Free cash flow yield (TTM): -55.26%
Current ratio: 2.35x
Net debt to EBITDA: 0.78x

Latest reported year

Period end: Jul 31, 2026
Fiscal year: 2026
Revenue: $874.00K
Cost of revenue: $246.00K
Gross profit: $628.00K
EBITDA: -$33.20M
Net income: -$29.64M
Earnings per share: $-0.58
Research and development: $24.33M
Interest expense: $333.00K
Shares outstanding: 51.39M

Income statement by year

Period end	Revenue	Gross profit	Net income	EPS
2026-07-31	$874.00K	$628.00K	-$29.64M	-$0.58
2025-07-31	$917.00K	-	-$30.52M	-$1.04
2024-07-31	$637.00K	$483.00K	-$34.41M	-$1.45
2023-07-31	$279.00K	$201.00K	-$1.88M	-$0.08
2022-07-31	$410.00K	-$3.09M	-$124.66M	-$6.31
2021-07-31	$802.00K	-$2.37M	-$23.06M	-$1.49
2020-07-31	$4.91M	$3.04M	-$10.75M	-$0.66
2019-07-31	$4.93M	$3.15M	-$4.69M	-$0.35
2018-07-31	$4.37M	$2.67M	-$11.65M	-$0.93
2017-07-31	$5.62M	$3.95M	$138.00K	$0.01

Margins and returns by year

Period end	Gross margin	Net margin	Return on equity	Return on capital
2026-07-31	71.85%	-3,390.73%	-41.18%	-46.01%
2025-07-31	-	-3,328.24%	-31.03%	-26.86%
2024-07-31	75.82%	-5,401.88%	-39.89%	-112.75%
2023-07-31	72.04%	-672.40%	-1.94%	-15.30%
2022-07-31	-753.41%	-30,404.39%	-128.24%	-53.90%
2021-07-31	-295.14%	-2,875.44%	-16.87%	-20.63%
2020-07-31	62.00%	-219.00%	-8.24%	-6.49%
2019-07-31	63.92%	-95.17%	-3.76%	-4.78%
2018-07-31	61.15%	-266.51%	-10.03%	-3.31%
2017-07-31	70.29%	2.46%	0.22%	0.25%

Cash and debt by year

Period end	Cash	Debt
2026-07-31	$22.10M	$2.00K
2025-07-31	$52.77M	$78.00K
2024-07-31	$2.67M	$73.00K
2023-07-31	$21.50M	-
2022-07-31	$26.54M	-
2021-07-31	$7.85M	-
2020-07-31	$6.21M	-
2019-07-31	$12.02M	$14.95M
2018-07-31	$15.80M	-
2017-07-31	$11.76M	-

Free cash flow by year

Period end	Free cash flow	Stock-based compensation
2026-07-31	-$29.99M	$1.39M
2025-07-31	-$18.93M	$2.12M
2024-07-31	-$7.95M	$2.30M
2023-07-31	-$10.89M	$2.19M
2022-07-31	-$26.08M	-$917.00K
2021-07-31	-$15.81M	$6.63M
2020-07-31	-$5.20M	$684.00K
2019-07-31	-$3.53M	-
2018-07-31	-$2.52M	$51.00K
2017-07-31	-$3.44M	-

Investor relations

Next earnings report

Next confirmed report: Dec 10, 2026

Past earnings dates

Reported	Fiscal period	EPS estimate
2026-10-29	Jul 2026	-
2026-06-11	Apr 2026	-
2026-03-16	Jan 2026	-
2025-12-11	Oct 2025	-
2025-10-29	Jul 2025	-
2025-06-11	Apr 2025	-
2025-03-13	Jan 2025	-
2024-12-11	Oct 2024	-

Filings and sources

Company website: rafaelholdings.com
SEC filings: 10-K, 10-Q and 8-K on EDGAR
Earnings calendar: All upcoming reports

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