How to Valuation a Stock

I look at a very long-term history of the company and try to guess how much I think they'll dilute me over time. CBNA has a disruptor valuation of business that seems not to be what do you see as a differential value proposition. The growth could be due to auto loans ABS like the subprime bubble. Do you consider the stock compensations expenses as non-cash expenses? I actually do I Look at it in terms of the amount of dilution that happens and then factor that into taking it out of my return.