Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
-987M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
0%.
Starting with -987M and growing at 0%
for 5 years, we estimate Free Cash Flow will be
-987M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 195.1M.
We will project this out 5 year(s) with a growth rate
of 1.5%.
Estimated Diluted Shares Outstanding: 210.18M.
Step 3: Project Future Stock Price
Using a price ratio of -41.06, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(-987M ÷ 210.18M) × -41.06 =
$192
Step 4: Project Future Dividends Paid
Forward dividend per share: $3.95.
Projected over 5 years with a growth rate of
2.39%, dividends add to total shareholder return.
Expected dividends in 5 years:
$20.951299128316567.
Step 5: Discount the Projected Stock Price
Projected stock price: $192.
Including dividends, total future value: $212.95.
Discounted at 10% per
year over 5 years → Fair Value:
$132.
