Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
75.65M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
18.48%.
Starting with 75.65M and growing at 18.48%
for 5 years, we estimate Free Cash Flow will be
176.63M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 34.21M.
We will project this out 5 year(s) with a growth rate
of 0.73%.
Estimated Diluted Shares Outstanding: 35.48M.
Step 3: Project Future Stock Price
Using a price ratio of 2.93, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(176.63M ÷ 35.48M) × 2.93 =
$14
Step 4: Project Future Dividends Paid
Forward dividend per share: $0.97.
Projected over 5 years with a growth rate of
2.19%, dividends add to total shareholder return.
Expected dividends in 5 years:
$5.119914829447179.
Step 5: Discount the Projected Stock Price
Projected stock price: $14.
Including dividends, total future value: $19.12.
Discounted at 10% per
year over 5 years → Fair Value:
$11.
