Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
189M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
6.2%.
Starting with 189M and growing at 6.2%
for 5 years, we estimate Free Cash Flow will be
255.32M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 109.37M.
We will project this out 5 year(s) with a growth rate
of 18.14%.
Estimated Diluted Shares Outstanding: 251.7M.
Step 3: Project Future Stock Price
Using a price ratio of 5.21, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(255.32M ÷ 251.7M) × 5.21 =
$5
Step 4: Project Future Dividends Paid
Forward dividend per share: $0.25.
Projected over 5 years with a growth rate of
-21.40%, dividends add to total shareholder return.
Expected dividends in 5 years:
$0.6846464775777716.
Step 5: Discount the Projected Stock Price
Projected stock price: $5.
Including dividends, total future value: $5.68.
Discounted at 10% per
year over 5 years → Fair Value:
$3.
