Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
-793.53M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
0%.
Starting with -793.53M and growing at 0%
for 5 years, we estimate Free Cash Flow will be
-793.53M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 119.43M.
We will project this out 5 year(s) with a growth rate
of 0.61%.
Estimated Diluted Shares Outstanding: 123.11M.
Step 3: Project Future Stock Price
Using a price ratio of -16.55, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(-793.53M ÷ 123.11M) × -16.55 =
$106
Step 4: Project Future Dividends Paid
Forward dividend per share: $4.46.
Projected over 5 years with a growth rate of
-3.31%, dividends add to total shareholder return.
Expected dividends in 5 years:
$20.500231417403697.
Step 5: Discount the Projected Stock Price
Projected stock price: $106.
Including dividends, total future value: $126.5.
Discounted at 10% per
year over 5 years → Fair Value:
$78.
