Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
-633.61M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
0%.
Starting with -633.61M and growing at 0%
for 5 years, we estimate Free Cash Flow will be
-633.61M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 181.68M.
We will project this out 5 year(s) with a growth rate
of 9.73%.
Estimated Diluted Shares Outstanding: 289.02M.
Step 3: Project Future Stock Price
Using a price ratio of -10.98, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(-633.61M ÷ 289.02M) × -10.98 =
$24
Step 4: Project Future Dividends Paid
Forward dividend per share: $2.37.
Projected over 5 years with a growth rate of
0.43%, dividends add to total shareholder return.
Expected dividends in 5 years:
$11.97779861895381.
Step 5: Discount the Projected Stock Price
Projected stock price: $24.
Including dividends, total future value: $35.98.
Discounted at 10% per
year over 5 years → Fair Value:
$22.
