Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
-4.37B
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
0%.
Starting with -4.37B and growing at 0%
for 5 years, we estimate Free Cash Flow will be
-4.37B.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 652.47M.
We will project this out 5 year(s) with a growth rate
of 2.49%.
Estimated Diluted Shares Outstanding: 737.85M.
Step 3: Project Future Stock Price
Using a price ratio of -22.78, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(-4.37B ÷ 737.85M) × -22.78 =
$134
Step 4: Project Future Dividends Paid
Forward dividend per share: $2.56.
Projected over 5 years with a growth rate of
-1.53%, dividends add to total shareholder return.
Expected dividends in 5 years:
$12.316003806166368.
Step 5: Discount the Projected Stock Price
Projected stock price: $134.
Including dividends, total future value: $146.32.
Discounted at 10% per
year over 5 years → Fair Value:
$90.
