Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
-790.59M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
0%.
Starting with -790.59M and growing at 0%
for 5 years, we estimate Free Cash Flow will be
-790.59M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 105.38M.
We will project this out 5 year(s) with a growth rate
of 2.44%.
Estimated Diluted Shares Outstanding: 118.88M.
Step 3: Project Future Stock Price
Using a price ratio of -12.85, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(-790.59M ÷ 118.88M) × -12.85 =
$85
Step 4: Project Future Dividends Paid
Forward dividend per share: $2.02.
Projected over 5 years with a growth rate of
5.79%, dividends add to total shareholder return.
Expected dividends in 5 years:
$11.62606954803908.
Step 5: Discount the Projected Stock Price
Projected stock price: $85.
Including dividends, total future value: $96.63.
Discounted at 10% per
year over 5 years → Fair Value:
$59.
