Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
194.4M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
-12.25%.
Starting with 194.4M and growing at -12.25%
for 5 years, we estimate Free Cash Flow will be
101.14M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 121.6M.
We will project this out 5 year(s) with a growth rate
of 6.47%.
Estimated Diluted Shares Outstanding: 166.37M.
Step 3: Project Future Stock Price
Using a price ratio of 8.4, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(101.14M ÷ 166.37M) × 8.4 =
$5
Step 4: Project Future Dividends Paid
Forward dividend per share: $0.38.
Projected over 5 years with a growth rate of
n/a, dividends add to total shareholder return.
Expected dividends in 5 years:
$1.9.
Step 5: Discount the Projected Stock Price
Projected stock price: $5.
Including dividends, total future value: $6.9.
Discounted at 10% per
year over 5 years → Fair Value:
$4.
