Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
-118M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
-20.16%.
Starting with -118M and growing at -20.16%
for 5 years, we estimate Free Cash Flow will be
-38.28M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 527.98M.
We will project this out 5 year(s) with a growth rate
of -2.34%.
Estimated Diluted Shares Outstanding: 469.03M.
Step 3: Project Future Stock Price
Using a price ratio of -247.94, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(-38.28M ÷ 469.03M) × -247.94 =
$20
Step 4: Project Future Dividends Paid
Forward dividend per share: $2.31.
Projected over 5 years with a growth rate of
-6.51%, dividends add to total shareholder return.
Expected dividends in 5 years:
$9.761012831455993.
Step 5: Discount the Projected Stock Price
Projected stock price: $20.
Including dividends, total future value: $29.76.
Discounted at 10% per
year over 5 years → Fair Value:
$18.
