Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
31.43M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
0%.
Starting with 31.43M and growing at 0%
for 5 years, we estimate Free Cash Flow will be
31.43M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 3.24M.
We will project this out 5 year(s) with a growth rate
of -0.89%.
Estimated Diluted Shares Outstanding: 3.1M.
Step 3: Project Future Stock Price
Using a price ratio of 3.16, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(31.43M ÷ 3.1M) × 3.16 =
$32
Step 4: Project Future Dividends Paid
Forward dividend per share: $1.82.
Projected over 5 years with a growth rate of
-1.91%, dividends add to total shareholder return.
Expected dividends in 5 years:
$8.671679708160557.
Step 5: Discount the Projected Stock Price
Projected stock price: $32.
Including dividends, total future value: $40.67.
Discounted at 10% per
year over 5 years → Fair Value:
$25.
