Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
-182.16M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
0%.
Starting with -182.16M and growing at 0%
for 5 years, we estimate Free Cash Flow will be
-182.16M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 40.94M.
We will project this out 5 year(s) with a growth rate
of 5.42%.
Estimated Diluted Shares Outstanding: 53.3M.
Step 3: Project Future Stock Price
Using a price ratio of -13.56, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(-182.16M ÷ 53.3M) × -13.56 =
$46
Step 4: Project Future Dividends Paid
Forward dividend per share: $2.45.
Projected over 5 years with a growth rate of
-5.13%, dividends add to total shareholder return.
Expected dividends in 5 years:
$10.738863944780858.
Step 5: Discount the Projected Stock Price
Projected stock price: $46.
Including dividends, total future value: $56.74.
Discounted at 10% per
year over 5 years → Fair Value:
$35.
