Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
-128.46M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
0%.
Starting with -128.46M and growing at 0%
for 5 years, we estimate Free Cash Flow will be
-128.46M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 61.4M.
We will project this out 5 year(s) with a growth rate
of 3.87%.
Estimated Diluted Shares Outstanding: 74.23M.
Step 3: Project Future Stock Price
Using a price ratio of -7.27, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(-128.46M ÷ 74.23M) × -7.27 =
$12
Step 4: Project Future Dividends Paid
Forward dividend per share: $2.63.
Projected over 5 years with a growth rate of
-3.77%, dividends add to total shareholder return.
Expected dividends in 5 years:
$11.945434940855574.
Step 5: Discount the Projected Stock Price
Projected stock price: $12.
Including dividends, total future value: $23.95.
Discounted at 10% per
year over 5 years → Fair Value:
$14.
