Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
135.77M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
3.63%.
Starting with 135.77M and growing at 3.63%
for 5 years, we estimate Free Cash Flow will be
162.27M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 46.39M.
We will project this out 5 year(s) with a growth rate
of -2.85%.
Estimated Diluted Shares Outstanding: 40.15M.
Step 3: Project Future Stock Price
Using a price ratio of 9.17, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(162.27M ÷ 40.15M) × 9.17 =
$37
Step 4: Project Future Dividends Paid
Forward dividend per share: $0.9.
Projected over 5 years with a growth rate of
-5.59%, dividends add to total shareholder return.
Expected dividends in 5 years:
$3.89724319913498.
Step 5: Discount the Projected Stock Price
Projected stock price: $37.
Including dividends, total future value: $40.9.
Discounted at 10% per
year over 5 years → Fair Value:
$25.
