Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
458M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
-40.77%.
Starting with 458M and growing at -40.77%
for 5 years, we estimate Free Cash Flow will be
33.39M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 386.01M.
We will project this out 5 year(s) with a growth rate
of 7.74%.
Estimated Diluted Shares Outstanding: 560.38M.
Step 3: Project Future Stock Price
Using a price ratio of 68.7, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(33.39M ÷ 560.38M) × 68.7 =
$4
Step 4: Project Future Dividends Paid
Forward dividend per share: $2.85.
Projected over 5 years with a growth rate of
2.19%, dividends add to total shareholder return.
Expected dividends in 5 years:
$15.043048725695321.
Step 5: Discount the Projected Stock Price
Projected stock price: $4.
Including dividends, total future value: $19.04.
Discounted at 10% per
year over 5 years → Fair Value:
$11.
