Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
-23.38M
as of Sep 30, 2023.
We will project this out 5 years with a yearly growth
rate of
0%.
Starting with -23.38M and growing at 0%
for 5 years, we estimate Free Cash Flow will be
-23.38M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 93.5M.
We will project this out 5 year(s) with a growth rate
of 7.07%.
Estimated Diluted Shares Outstanding: 131.57M.
Step 3: Project Future Stock Price
Using a price ratio of -11.26, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(-23.38M ÷ 131.57M) × -11.26 =
$2
Step 4: Project Future Dividends Paid
Forward dividend per share: $0.
Projected over 5 years with a growth rate of
n/a, dividends add to total shareholder return.
Expected dividends in 5 years:
$0.
Step 5: Discount the Projected Stock Price
Projected stock price: $2.
Including dividends, total future value: $2.
Discounted at 10% per
year over 5 years → Fair Value:
$1.
