Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
214.7M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
0.94%.
Starting with 214.7M and growing at 0.94%
for 5 years, we estimate Free Cash Flow will be
224.98M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 49.92M.
We will project this out 5 year(s) with a growth rate
of 5.29%.
Estimated Diluted Shares Outstanding: 64.59M.
Step 3: Project Future Stock Price
Using a price ratio of 15.9, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(224.98M ÷ 64.59M) × 15.9 =
$55
Step 4: Project Future Dividends Paid
Forward dividend per share: $2.91.
Projected over 5 years with a growth rate of
-0.77%, dividends add to total shareholder return.
Expected dividends in 5 years:
$14.271527927511428.
Step 5: Discount the Projected Stock Price
Projected stock price: $55.
Including dividends, total future value: $69.27.
Discounted at 10% per
year over 5 years → Fair Value:
$43.
