Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
-677.79M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
0%.
Starting with -677.79M and growing at 0%
for 5 years, we estimate Free Cash Flow will be
-677.79M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 99.22M.
We will project this out 5 year(s) with a growth rate
of 11.13%.
Estimated Diluted Shares Outstanding: 168.17M.
Step 3: Project Future Stock Price
Using a price ratio of -2.96, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(-677.79M ÷ 168.17M) × -2.96 =
$11
Step 4: Project Future Dividends Paid
Forward dividend per share: $1.33.
Projected over 5 years with a growth rate of
-4.15%, dividends add to total shareholder return.
Expected dividends in 5 years:
$5.981387493815397.
Step 5: Discount the Projected Stock Price
Projected stock price: $11.
Including dividends, total future value: $16.98.
Discounted at 10% per
year over 5 years → Fair Value:
$10.
