Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
-137.81M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
0%.
Starting with -137.81M and growing at 0%
for 5 years, we estimate Free Cash Flow will be
-137.81M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 60M.
We will project this out 5 year(s) with a growth rate
of 1.39%.
Estimated Diluted Shares Outstanding: 64.29M.
Step 3: Project Future Stock Price
Using a price ratio of -10.25, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(-137.81M ÷ 64.29M) × -10.25 =
$21
Step 4: Project Future Dividends Paid
Forward dividend per share: $2.67.
Projected over 5 years with a growth rate of
-1.43%, dividends add to total shareholder return.
Expected dividends in 5 years:
$12.877843918985837.
Step 5: Discount the Projected Stock Price
Projected stock price: $21.
Including dividends, total future value: $33.88.
Discounted at 10% per
year over 5 years → Fair Value:
$21.
