Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
209.05M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
-3.04%.
Starting with 209.05M and growing at -3.04%
for 5 years, we estimate Free Cash Flow will be
179.15M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 24.48M.
We will project this out 5 year(s) with a growth rate
of -2.3%.
Estimated Diluted Shares Outstanding: 21.79M.
Step 3: Project Future Stock Price
Using a price ratio of 15.68, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(179.15M ÷ 21.79M) × 15.68 =
$128
Step 4: Project Future Dividends Paid
Forward dividend per share: $0.
Projected over 5 years with a growth rate of
n/a, dividends add to total shareholder return.
Expected dividends in 5 years:
$0.
Step 5: Discount the Projected Stock Price
Projected stock price: $128.
Including dividends, total future value: $128.
Discounted at 10% per
year over 5 years → Fair Value:
$79.
