Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
82.05M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
-5.14%.
Starting with 82.05M and growing at -5.14%
for 5 years, we estimate Free Cash Flow will be
63.02M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 33.95M.
We will project this out 5 year(s) with a growth rate
of -1.15%.
Estimated Diluted Shares Outstanding: 32.05M.
Step 3: Project Future Stock Price
Using a price ratio of 15.16, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(63.02M ÷ 32.05M) × 15.16 =
$29
Step 4: Project Future Dividends Paid
Forward dividend per share: $1.18.
Projected over 5 years with a growth rate of
-2.09%, dividends add to total shareholder return.
Expected dividends in 5 years:
$5.596540334172388.
Step 5: Discount the Projected Stock Price
Projected stock price: $29.
Including dividends, total future value: $34.6.
Discounted at 10% per
year over 5 years → Fair Value:
$21.
