Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
-827M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
0%.
Starting with -827M and growing at 0%
for 5 years, we estimate Free Cash Flow will be
-827M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 109.56M.
We will project this out 5 year(s) with a growth rate
of 3.07%.
Estimated Diluted Shares Outstanding: 127.44M.
Step 3: Project Future Stock Price
Using a price ratio of -30.69, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(-827M ÷ 127.44M) × -30.69 =
$199
Step 4: Project Future Dividends Paid
Forward dividend per share: $2.05.
Projected over 5 years with a growth rate of
-0.45%, dividends add to total shareholder return.
Expected dividends in 5 years:
$10.135076387638328.
Step 5: Discount the Projected Stock Price
Projected stock price: $199.
Including dividends, total future value: $209.14.
Discounted at 10% per
year over 5 years → Fair Value:
$129.
