Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
178.95M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
4.41%.
Starting with 178.95M and growing at 4.41%
for 5 years, we estimate Free Cash Flow will be
222.04M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 32M.
We will project this out 5 year(s) with a growth rate
of 1.18%.
Estimated Diluted Shares Outstanding: 33.93M.
Step 3: Project Future Stock Price
Using a price ratio of 6.93, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(222.04M ÷ 33.93M) × 6.93 =
$45
Step 4: Project Future Dividends Paid
Forward dividend per share: $0.29.
Projected over 5 years with a growth rate of
n/a, dividends add to total shareholder return.
Expected dividends in 5 years:
$1.45.
Step 5: Discount the Projected Stock Price
Projected stock price: $45.
Including dividends, total future value: $46.45.
Discounted at 10% per
year over 5 years → Fair Value:
$28.
