Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
365.58M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
-5.38%.
Starting with 365.58M and growing at -5.38%
for 5 years, we estimate Free Cash Flow will be
277.27M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 75.21M.
We will project this out 5 year(s) with a growth rate
of -5.01%.
Estimated Diluted Shares Outstanding: 58.17M.
Step 3: Project Future Stock Price
Using a price ratio of 3.93, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(277.27M ÷ 58.17M) × 3.93 =
$18
Step 4: Project Future Dividends Paid
Forward dividend per share: $1.49.
Projected over 5 years with a growth rate of
0.22%, dividends add to total shareholder return.
Expected dividends in 5 years:
$7.491042633533062.
Step 5: Discount the Projected Stock Price
Projected stock price: $18.
Including dividends, total future value: $25.49.
Discounted at 10% per
year over 5 years → Fair Value:
$15.
