Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
12.26M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
7.69%.
Starting with 12.26M and growing at 7.69%
for 5 years, we estimate Free Cash Flow will be
17.76M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 9.83M.
We will project this out 5 year(s) with a growth rate
of -0.41%.
Estimated Diluted Shares Outstanding: 9.63M.
Step 3: Project Future Stock Price
Using a price ratio of 9.27, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(17.76M ÷ 9.63M) × 9.27 =
$17
Step 4: Project Future Dividends Paid
Forward dividend per share: $0.54.
Projected over 5 years with a growth rate of
5.39%, dividends add to total shareholder return.
Expected dividends in 5 years:
$3.078663873025857.
Step 5: Discount the Projected Stock Price
Projected stock price: $17.
Including dividends, total future value: $20.08.
Discounted at 10% per
year over 5 years → Fair Value:
$12.
