Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
171.4M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
-14.2%.
Starting with 171.4M and growing at -14.2%
for 5 years, we estimate Free Cash Flow will be
79.7M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 103.11M.
We will project this out 5 year(s) with a growth rate
of -6.42%.
Estimated Diluted Shares Outstanding: 73.99M.
Step 3: Project Future Stock Price
Using a price ratio of 8.37, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(79.7M ÷ 73.99M) × 8.37 =
$9
Step 4: Project Future Dividends Paid
Forward dividend per share: $0.
Projected over 5 years with a growth rate of
n/a, dividends add to total shareholder return.
Expected dividends in 5 years:
$0.
Step 5: Discount the Projected Stock Price
Projected stock price: $9.
Including dividends, total future value: $9.
Discounted at 10% per
year over 5 years → Fair Value:
$5.
