Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
14.94M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
8.11%.
Starting with 14.94M and growing at 8.11%
for 5 years, we estimate Free Cash Flow will be
22.06M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 5.78M.
We will project this out 5 year(s) with a growth rate
of -0.39%.
Estimated Diluted Shares Outstanding: 5.66M.
Step 3: Project Future Stock Price
Using a price ratio of 6.7, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(22.06M ÷ 5.66M) × 6.7 =
$26
Step 4: Project Future Dividends Paid
Forward dividend per share: $1.05.
Projected over 5 years with a growth rate of
-2.32%, dividends add to total shareholder return.
Expected dividends in 5 years:
$4.950777753410847.
Step 5: Discount the Projected Stock Price
Projected stock price: $26.
Including dividends, total future value: $30.95.
Discounted at 10% per
year over 5 years → Fair Value:
$19.
