Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
165.66M
as of May 30, 2025.
We will project this out 5 years with a yearly growth
rate of
-15.77%.
Starting with 165.66M and growing at -15.77%
for 5 years, we estimate Free Cash Flow will be
70.24M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 52.4M.
We will project this out 5 year(s) with a growth rate
of 2.24%.
Estimated Diluted Shares Outstanding: 58.54M.
Step 3: Project Future Stock Price
Using a price ratio of 13.24, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(70.24M ÷ 58.54M) × 13.24 =
$15
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: $15.
Including dividends, total future value: $15.
Discounted at 10% per
year over 5 years → Fair Value:
$9.
