Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
-56.4M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
0%.
Starting with -56.4M and growing at 0%
for 5 years, we estimate Free Cash Flow will be
-56.4M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 80.84M.
We will project this out 5 year(s) with a growth rate
of -7.93%.
Estimated Diluted Shares Outstanding: 53.48M.
Step 3: Project Future Stock Price
Using a price ratio of -12.36, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(-56.4M ÷ 53.48M) × -12.36 =
$13
Step 4: Project Future Dividends Paid
Forward dividend per share: $1.48.
Projected over 5 years with a growth rate of
9.57%, dividends add to total shareholder return.
Expected dividends in 5 years:
$9.29952730346606.
Step 5: Discount the Projected Stock Price
Projected stock price: $13.
Including dividends, total future value: $22.3.
Discounted at 10% per
year over 5 years → Fair Value:
$13.
