Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
-221.24M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
-13.75%.
Starting with -221.24M and growing at -13.75%
for 5 years, we estimate Free Cash Flow will be
-105.6M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 151.36M.
We will project this out 5 year(s) with a growth rate
of -0.66%.
Estimated Diluted Shares Outstanding: 146.43M.
Step 3: Project Future Stock Price
Using a price ratio of -8.33, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(-105.6M ÷ 146.43M) × -8.33 =
$6
Step 4: Project Future Dividends Paid
Forward dividend per share: $1.92.
Projected over 5 years with a growth rate of
-0.05%, dividends add to total shareholder return.
Expected dividends in 5 years:
$9.588004499624978.
Step 5: Discount the Projected Stock Price
Projected stock price: $6.
Including dividends, total future value: $15.59.
Discounted at 10% per
year over 5 years → Fair Value:
$9.
