Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
-33.26M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
0%.
Starting with -33.26M and growing at 0%
for 5 years, we estimate Free Cash Flow will be
-33.26M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 28.42M.
We will project this out 5 year(s) with a growth rate
of 6.97%.
Estimated Diluted Shares Outstanding: 39.8M.
Step 3: Project Future Stock Price
Using a price ratio of -7.7, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(-33.26M ÷ 39.8M) × -7.7 =
$6
Step 4: Project Future Dividends Paid
Forward dividend per share: $1.73.
Projected over 5 years with a growth rate of
0.85%, dividends add to total shareholder return.
Expected dividends in 5 years:
$8.834985962984813.
Step 5: Discount the Projected Stock Price
Projected stock price: $6.
Including dividends, total future value: $14.83.
Discounted at 10% per
year over 5 years → Fair Value:
$9.
