Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
23.29M
as of Mar 31, 2025.
We will project this out 5 years with a yearly growth
rate of
-1.63%.
Starting with 23.29M and growing at -1.63%
for 5 years, we estimate Free Cash Flow will be
21.46M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 14.24M.
We will project this out 5 year(s) with a growth rate
of 0.93%.
Estimated Diluted Shares Outstanding: 14.92M.
Step 3: Project Future Stock Price
Using a price ratio of 13.85, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(21.46M ÷ 14.92M) × 13.85 =
$19
Step 4: Project Future Dividends Paid
Forward dividend per share: $0.55.
Projected over 5 years with a growth rate of
n/a, dividends add to total shareholder return.
Expected dividends in 5 years:
$2.75.
Step 5: Discount the Projected Stock Price
Projected stock price: $19.
Including dividends, total future value: $21.75.
Discounted at 10% per
year over 5 years → Fair Value:
$13.
