Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
23.02M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
-8.9%.
Starting with 23.02M and growing at -8.9%
for 5 years, we estimate Free Cash Flow will be
14.45M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 10.6M.
We will project this out 5 year(s) with a growth rate
of 0.75%.
Estimated Diluted Shares Outstanding: 11M.
Step 3: Project Future Stock Price
Using a price ratio of 8.7, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(14.45M ÷ 11M) × 8.7 =
$11
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: $11.
Including dividends, total future value: $11.
Discounted at 10% per
year over 5 years → Fair Value:
$6.
