Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
-228.61M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
0%.
Starting with -228.61M and growing at 0%
for 5 years, we estimate Free Cash Flow will be
-228.61M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 59.58M.
We will project this out 5 year(s) with a growth rate
of 4.02%.
Estimated Diluted Shares Outstanding: 72.56M.
Step 3: Project Future Stock Price
Using a price ratio of -29.44, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(-228.61M ÷ 72.56M) × -29.44 =
$92
Step 4: Project Future Dividends Paid
Forward dividend per share: $1.5.
Projected over 5 years with a growth rate of
2.03%, dividends add to total shareholder return.
Expected dividends in 5 years:
$7.886439572643564.
Step 5: Discount the Projected Stock Price
Projected stock price: $92.
Including dividends, total future value: $99.89.
Discounted at 10% per
year over 5 years → Fair Value:
$62.
