Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
183.7M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
-14.61%.
Starting with 183.7M and growing at -14.61%
for 5 years, we estimate Free Cash Flow will be
83.39M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 44.89M.
We will project this out 5 year(s) with a growth rate
of 0.78%.
Estimated Diluted Shares Outstanding: 46.66M.
Step 3: Project Future Stock Price
Using a price ratio of 10.25, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(83.39M ÷ 46.66M) × 10.25 =
$18
Step 4: Project Future Dividends Paid
Forward dividend per share: $1.5.
Projected over 5 years with a growth rate of
-5.59%, dividends add to total shareholder return.
Expected dividends in 5 years:
$6.495405331891633.
Step 5: Discount the Projected Stock Price
Projected stock price: $18.
Including dividends, total future value: $24.5.
Discounted at 10% per
year over 5 years → Fair Value:
$15.
