Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
-278M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
0%.
Starting with -278M and growing at 0%
for 5 years, we estimate Free Cash Flow will be
-278M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 360.65M.
We will project this out 5 year(s) with a growth rate
of 1.06%.
Estimated Diluted Shares Outstanding: 380.18M.
Step 3: Project Future Stock Price
Using a price ratio of -39.55, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(-278M ÷ 380.18M) × -39.55 =
$28
Step 4: Project Future Dividends Paid
Forward dividend per share: $4.21.
Projected over 5 years with a growth rate of
-3.58%, dividends add to total shareholder return.
Expected dividends in 5 years:
$19.21630654115435.
Step 5: Discount the Projected Stock Price
Projected stock price: $28.
Including dividends, total future value: $47.22.
Discounted at 10% per
year over 5 years → Fair Value:
$29.
