Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
196.34M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
-6.05%.
Starting with 196.34M and growing at -6.05%
for 5 years, we estimate Free Cash Flow will be
143.72M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 63.02M.
We will project this out 5 year(s) with a growth rate
of -8.14%.
Estimated Diluted Shares Outstanding: 41.22M.
Step 3: Project Future Stock Price
Using a price ratio of 5.42, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(143.72M ÷ 41.22M) × 5.42 =
$18
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: $18.
Including dividends, total future value: $18.
Discounted at 10% per
year over 5 years → Fair Value:
$11.
