Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
125.67M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
0.54%.
Starting with 125.67M and growing at 0.54%
for 5 years, we estimate Free Cash Flow will be
129.1M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 46.07M.
We will project this out 5 year(s) with a growth rate
of 2.16%.
Estimated Diluted Shares Outstanding: 51.26M.
Step 3: Project Future Stock Price
Using a price ratio of 14.63, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(129.1M ÷ 51.26M) × 14.63 =
$36
Step 4: Project Future Dividends Paid
Forward dividend per share: $2.28.
Projected over 5 years with a growth rate of
-5.59%, dividends add to total shareholder return.
Expected dividends in 5 years:
$9.873016104475282.
Step 5: Discount the Projected Stock Price
Projected stock price: $36.
Including dividends, total future value: $45.87.
Discounted at 10% per
year over 5 years → Fair Value:
$28.
