Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
680M
as of Aug 2, 2025.
We will project this out 5 years with a yearly growth
rate of
-25.67%.
Starting with 680M and growing at -25.67%
for 5 years, we estimate Free Cash Flow will be
154.29M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 112.04M.
We will project this out 5 year(s) with a growth rate
of -6.65%.
Estimated Diluted Shares Outstanding: 79.42M.
Step 3: Project Future Stock Price
Using a price ratio of 2.77, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(154.29M ÷ 79.42M) × 2.77 =
$5
Step 4: Project Future Dividends Paid
Forward dividend per share: $1.38.
Projected over 5 years with a growth rate of
-11.84%, dividends add to total shareholder return.
Expected dividends in 5 years:
$5.035331233203739.
Step 5: Discount the Projected Stock Price
Projected stock price: $5.
Including dividends, total future value: $10.04.
Discounted at 10% per
year over 5 years → Fair Value:
$6.
