Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
-202.85M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
-22.74%.
Starting with -202.85M and growing at -22.74%
for 5 years, we estimate Free Cash Flow will be
-55.84M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 34.07M.
We will project this out 5 year(s) with a growth rate
of 1.48%.
Estimated Diluted Shares Outstanding: 36.67M.
Step 3: Project Future Stock Price
Using a price ratio of -6.35, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(-55.84M ÷ 36.67M) × -6.35 =
$9
Step 4: Project Future Dividends Paid
Forward dividend per share: $3.31.
Projected over 5 years with a growth rate of
6.90%, dividends add to total shareholder return.
Expected dividends in 5 years:
$19.55429942970011.
Step 5: Discount the Projected Stock Price
Projected stock price: $9.
Including dividends, total future value: $28.55.
Discounted at 10% per
year over 5 years → Fair Value:
$17.
