Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
-657.6M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
0%.
Starting with -657.6M and growing at 0%
for 5 years, we estimate Free Cash Flow will be
-657.6M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 470.86M.
We will project this out 5 year(s) with a growth rate
of 3.93%.
Estimated Diluted Shares Outstanding: 570.94M.
Step 3: Project Future Stock Price
Using a price ratio of -18.09, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(-657.6M ÷ 570.94M) × -18.09 =
$20
Step 4: Project Future Dividends Paid
Forward dividend per share: $1.39.
Projected over 5 years with a growth rate of
5.92%, dividends add to total shareholder return.
Expected dividends in 5 years:
$8.024717172382664.
Step 5: Discount the Projected Stock Price
Projected stock price: $20.
Including dividends, total future value: $28.02.
Discounted at 10% per
year over 5 years → Fair Value:
$17.
