Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
21.39M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
9.86%.
Starting with 21.39M and growing at 9.86%
for 5 years, we estimate Free Cash Flow will be
34.23M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 62.79M.
We will project this out 5 year(s) with a growth rate
of -5.6%.
Estimated Diluted Shares Outstanding: 47.07M.
Step 3: Project Future Stock Price
Using a price ratio of 18.01, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(34.23M ÷ 47.07M) × 18.01 =
$13
Step 4: Project Future Dividends Paid
Forward dividend per share: $0.55.
Projected over 5 years with a growth rate of
0.62%, dividends add to total shareholder return.
Expected dividends in 5 years:
$2.792823410904689.
Step 5: Discount the Projected Stock Price
Projected stock price: $13.
Including dividends, total future value: $15.79.
Discounted at 10% per
year over 5 years → Fair Value:
$9.
