Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
32.99M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
10.36%.
Starting with 32.99M and growing at 10.36%
for 5 years, we estimate Free Cash Flow will be
54M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 16.95M.
We will project this out 5 year(s) with a growth rate
of 3.19%.
Estimated Diluted Shares Outstanding: 19.83M.
Step 3: Project Future Stock Price
Using a price ratio of 12.7, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(54M ÷ 19.83M) × 12.7 =
$34
Step 4: Project Future Dividends Paid
Forward dividend per share: $0.15.
Projected over 5 years with a growth rate of
2.38%, dividends add to total shareholder return.
Expected dividends in 5 years:
$0.7954247065895561.
Step 5: Discount the Projected Stock Price
Projected stock price: $34.
Including dividends, total future value: $34.8.
Discounted at 10% per
year over 5 years → Fair Value:
$21.
