Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
94.12M
as of Jul 26, 2025.
We will project this out 5 years with a yearly growth
rate of
-0.9%.
Starting with 94.12M and growing at -0.9%
for 5 years, we estimate Free Cash Flow will be
89.96M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 41.21M.
We will project this out 5 year(s) with a growth rate
of -1.95%.
Estimated Diluted Shares Outstanding: 37.34M.
Step 3: Project Future Stock Price
Using a price ratio of 40.75, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(89.96M ÷ 37.34M) × 40.75 =
$98
Step 4: Project Future Dividends Paid
Forward dividend per share: $1.08.
Projected over 5 years with a growth rate of
13.53%, dividends add to total shareholder return.
Expected dividends in 5 years:
$7.416010814594211.
Step 5: Discount the Projected Stock Price
Projected stock price: $98.
Including dividends, total future value: $105.42.
Discounted at 10% per
year over 5 years → Fair Value:
$65.
