Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
-380M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
0%.
Starting with -380M and growing at 0%
for 5 years, we estimate Free Cash Flow will be
-380M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 384.83M.
We will project this out 5 year(s) with a growth rate
of 2.62%.
Estimated Diluted Shares Outstanding: 437.96M.
Step 3: Project Future Stock Price
Using a price ratio of -15.66, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(-380M ÷ 437.96M) × -15.66 =
$13
Step 4: Project Future Dividends Paid
Forward dividend per share: $4.09.
Projected over 5 years with a growth rate of
5.15%, dividends add to total shareholder return.
Expected dividends in 5 years:
$23.18550207769932.
Step 5: Discount the Projected Stock Price
Projected stock price: $13.
Including dividends, total future value: $36.19.
Discounted at 10% per
year over 5 years → Fair Value:
$22.
