Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
81.86M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
1.59%.
Starting with 81.86M and growing at 1.59%
for 5 years, we estimate Free Cash Flow will be
88.58M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 27.39M.
We will project this out 5 year(s) with a growth rate
of 6.35%.
Estimated Diluted Shares Outstanding: 37.27M.
Step 3: Project Future Stock Price
Using a price ratio of 12.6, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(88.58M ÷ 37.27M) × 12.6 =
$29
Step 4: Project Future Dividends Paid
Forward dividend per share: $1.66.
Projected over 5 years with a growth rate of
-5.59%, dividends add to total shareholder return.
Expected dividends in 5 years:
$7.188248567293407.
Step 5: Discount the Projected Stock Price
Projected stock price: $29.
Including dividends, total future value: $36.19.
Discounted at 10% per
year over 5 years → Fair Value:
$22.
