Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
47.77M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
2.63%.
Starting with 47.77M and growing at 2.63%
for 5 years, we estimate Free Cash Flow will be
54.39M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 18.31M.
We will project this out 5 year(s) with a growth rate
of 3.18%.
Estimated Diluted Shares Outstanding: 21.42M.
Step 3: Project Future Stock Price
Using a price ratio of 11.21, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(54.39M ÷ 21.42M) × 11.21 =
$28
Step 4: Project Future Dividends Paid
Forward dividend per share: $3.62.
Projected over 5 years with a growth rate of
24.57%, dividends add to total shareholder return.
Expected dividends in 5 years:
$31.34817308394374.
Step 5: Discount the Projected Stock Price
Projected stock price: $28.
Including dividends, total future value: $59.35.
Discounted at 10% per
year over 5 years → Fair Value:
$36.
