Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
505M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
8.05%.
Starting with 505M and growing at 8.05%
for 5 years, we estimate Free Cash Flow will be
743.73M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 3B.
We will project this out 5 year(s) with a growth rate
of 12.95%.
Estimated Diluted Shares Outstanding: 5.51B.
Step 3: Project Future Stock Price
Using a price ratio of 16.46, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(743.73M ÷ 5.51B) × 16.46 =
$2
Step 4: Project Future Dividends Paid
Forward dividend per share: $0.33.
Projected over 5 years with a growth rate of
-3.02%, dividends add to total shareholder return.
Expected dividends in 5 years:
$1.5282323674719807.
Step 5: Discount the Projected Stock Price
Projected stock price: $2.
Including dividends, total future value: $3.53.
Discounted at 10% per
year over 5 years → Fair Value:
$2.
