Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
-45.22M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
-5.88%.
Starting with -45.22M and growing at -5.88%
for 5 years, we estimate Free Cash Flow will be
-33.4M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 6.47M.
We will project this out 5 year(s) with a growth rate
of 22.14%.
Estimated Diluted Shares Outstanding: 17.59M.
Step 3: Project Future Stock Price
Using a price ratio of -31.05, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(-33.4M ÷ 17.59M) × -31.05 =
$58
Step 4: Project Future Dividends Paid
Forward dividend per share: $0.
Projected over 5 years with a growth rate of
n/a, dividends add to total shareholder return.
Expected dividends in 5 years:
$0.
Step 5: Discount the Projected Stock Price
Projected stock price: $58.
Including dividends, total future value: $58.
Discounted at 10% per
year over 5 years → Fair Value:
$36.
