Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
-345.53M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
0%.
Starting with -345.53M and growing at 0%
for 5 years, we estimate Free Cash Flow will be
-345.53M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 416.43M.
We will project this out 5 year(s) with a growth rate
of 2.1%.
Estimated Diluted Shares Outstanding: 462.03M.
Step 3: Project Future Stock Price
Using a price ratio of -106.88, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(-345.53M ÷ 462.03M) × -106.88 =
$79
Step 4: Project Future Dividends Paid
Forward dividend per share: $4.37.
Projected over 5 years with a growth rate of
2.03%, dividends add to total shareholder return.
Expected dividends in 5 years:
$22.975827288301584.
Step 5: Discount the Projected Stock Price
Projected stock price: $79.
Including dividends, total future value: $101.98.
Discounted at 10% per
year over 5 years → Fair Value:
$63.
