Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
52.34M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
6.4%.
Starting with 52.34M and growing at 6.4%
for 5 years, we estimate Free Cash Flow will be
71.38M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 25.44M.
We will project this out 5 year(s) with a growth rate
of -0.34%.
Estimated Diluted Shares Outstanding: 25.01M.
Step 3: Project Future Stock Price
Using a price ratio of 9.68, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(71.38M ÷ 25.01M) × 9.68 =
$27
Step 4: Project Future Dividends Paid
Forward dividend per share: $2.6.
Projected over 5 years with a growth rate of
17.65%, dividends add to total shareholder return.
Expected dividends in 5 years:
$19.51745474701952.
Step 5: Discount the Projected Stock Price
Projected stock price: $27.
Including dividends, total future value: $46.52.
Discounted at 10% per
year over 5 years → Fair Value:
$28.
