Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
-644M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
0%.
Starting with -644M and growing at 0%
for 5 years, we estimate Free Cash Flow will be
-644M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 207.59M.
We will project this out 5 year(s) with a growth rate
of 2.27%.
Estimated Diluted Shares Outstanding: 232.24M.
Step 3: Project Future Stock Price
Using a price ratio of -28.1, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(-644M ÷ 232.24M) × -28.1 =
$77
Step 4: Project Future Dividends Paid
Forward dividend per share: $5.38.
Projected over 5 years with a growth rate of
-1.41%, dividends add to total shareholder return.
Expected dividends in 5 years:
$25.96177887308918.
Step 5: Discount the Projected Stock Price
Projected stock price: $77.
Including dividends, total future value: $102.96.
Discounted at 10% per
year over 5 years → Fair Value:
$63.
