Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
27.35M
as of Mar 31, 2025.
We will project this out 5 years with a yearly growth
rate of
9.82%.
Starting with 27.35M and growing at 9.82%
for 5 years, we estimate Free Cash Flow will be
43.69M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 10.47M.
We will project this out 5 year(s) with a growth rate
of 3.87%.
Estimated Diluted Shares Outstanding: 12.66M.
Step 3: Project Future Stock Price
Using a price ratio of 8.88, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(43.69M ÷ 12.66M) × 8.88 =
$30
Step 4: Project Future Dividends Paid
Forward dividend per share: $1.32.
Projected over 5 years with a growth rate of
n/a, dividends add to total shareholder return.
Expected dividends in 5 years:
$6.6000000000000005.
Step 5: Discount the Projected Stock Price
Projected stock price: $30.
Including dividends, total future value: $36.6.
Discounted at 10% per
year over 5 years → Fair Value:
$22.
