Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
170.7M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
-6.7%.
Starting with 170.7M and growing at -6.7%
for 5 years, we estimate Free Cash Flow will be
120.68M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 79.56M.
We will project this out 5 year(s) with a growth rate
of -0.66%.
Estimated Diluted Shares Outstanding: 76.97M.
Step 3: Project Future Stock Price
Using a price ratio of 39.94, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(120.68M ÷ 76.97M) × 39.94 =
$62
Step 4: Project Future Dividends Paid
Forward dividend per share: $0.66.
Projected over 5 years with a growth rate of
-3.71%, dividends add to total shareholder return.
Expected dividends in 5 years:
$3.002388629314278.
Step 5: Discount the Projected Stock Price
Projected stock price: $62.
Including dividends, total future value: $65.
Discounted at 10% per
year over 5 years → Fair Value:
$40.
