Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
18.23M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
-24.3%.
Starting with 18.23M and growing at -24.3%
for 5 years, we estimate Free Cash Flow will be
4.53M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 28.73M.
We will project this out 5 year(s) with a growth rate
of 3.79%.
Estimated Diluted Shares Outstanding: 34.6M.
Step 3: Project Future Stock Price
Using a price ratio of 22.45, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(4.53M ÷ 34.6M) × 22.45 =
$2
Step 4: Project Future Dividends Paid
Forward dividend per share: $0.35.
Projected over 5 years with a growth rate of
-2.64%, dividends add to total shareholder return.
Expected dividends in 5 years:
$1.6367768041682906.
Step 5: Discount the Projected Stock Price
Projected stock price: $2.
Including dividends, total future value: $3.64.
Discounted at 10% per
year over 5 years → Fair Value:
$2.
