Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
128.85M
as of Mar 31, 2025.
We will project this out 5 years with a yearly growth
rate of
5.19%.
Starting with 128.85M and growing at 5.19%
for 5 years, we estimate Free Cash Flow will be
165.94M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 14.49M.
We will project this out 5 year(s) with a growth rate
of -2.09%.
Estimated Diluted Shares Outstanding: 13.04M.
Step 3: Project Future Stock Price
Using a price ratio of 13.38, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(165.94M ÷ 13.04M) × 13.38 =
$170
Step 4: Project Future Dividends Paid
Forward dividend per share: $3.88.
Projected over 5 years with a growth rate of
0.78%, dividends add to total shareholder return.
Expected dividends in 5 years:
$19.780515929172996.
Step 5: Discount the Projected Stock Price
Projected stock price: $170.
Including dividends, total future value: $189.78.
Discounted at 10% per
year over 5 years → Fair Value:
$117.
