Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
-177.71M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
0%.
Starting with -177.71M and growing at 0%
for 5 years, we estimate Free Cash Flow will be
-177.71M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 93.3M.
We will project this out 5 year(s) with a growth rate
of 3.77%.
Estimated Diluted Shares Outstanding: 112.27M.
Step 3: Project Future Stock Price
Using a price ratio of -11.83, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(-177.71M ÷ 112.27M) × -11.83 =
$18
Step 4: Project Future Dividends Paid
Forward dividend per share: $1.9.
Projected over 5 years with a growth rate of
-6.79%, dividends add to total shareholder return.
Expected dividends in 5 years:
$7.968560517014043.
Step 5: Discount the Projected Stock Price
Projected stock price: $18.
Including dividends, total future value: $25.97.
Discounted at 10% per
year over 5 years → Fair Value:
$16.
