We describe a phase-conjugate interferometer that consists of a partially transmitting conventional mirror placed in front of and in close proximity to a phase-conjugate mirror. The interferometer is self-referencing, compact, and insensitive to environmental disturbances, provides twice the sensitivity of conventional (nonphase-conjugate) interferometers, and produces a direct representation of an incident wave front. We have constructed such a device using internally self-pumped phase conjugation in barium titanate and have used the device to characterize the wave front produced by an aberrated optical system.