Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
-54.16M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
-25.91%.
Starting with -54.16M and growing at -25.91%
for 5 years, we estimate Free Cash Flow will be
-12.09M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 67.57M.
We will project this out 5 year(s) with a growth rate
of 2.27%.
Estimated Diluted Shares Outstanding: 75.59M.
Step 3: Project Future Stock Price
Using a price ratio of -56.05, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(-12.09M ÷ 75.59M) × -56.05 =
$8
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: $8.
Including dividends, total future value: $8.
Discounted at 10% per
year over 5 years → Fair Value:
$4.
