Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
377M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
-10.14%.
Starting with 377M and growing at -10.14%
for 5 years, we estimate Free Cash Flow will be
220.89M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 721.51M.
We will project this out 5 year(s) with a growth rate
of -0.46%.
Estimated Diluted Shares Outstanding: 705.07M.
Step 3: Project Future Stock Price
Using a price ratio of 28.81, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(220.89M ÷ 705.07M) × 28.81 =
$9
Step 4: Project Future Dividends Paid
Forward dividend per share: $1.03.
Projected over 5 years with a growth rate of
4.32%, dividends add to total shareholder return.
Expected dividends in 5 years:
$5.7243499386046315.
Step 5: Discount the Projected Stock Price
Projected stock price: $9.
Including dividends, total future value: $14.72.
Discounted at 10% per
year over 5 years → Fair Value:
$9.
