Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
272.4M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
-19.46%.
Starting with 272.4M and growing at -19.46%
for 5 years, we estimate Free Cash Flow will be
92.31M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 46.29M.
We will project this out 5 year(s) with a growth rate
of -4.34%.
Estimated Diluted Shares Outstanding: 37.08M.
Step 3: Project Future Stock Price
Using a price ratio of 2.65, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(92.31M ÷ 37.08M) × 2.65 =
$6
Step 4: Project Future Dividends Paid
Forward dividend per share: $3.8.
Projected over 5 years with a growth rate of
-20.45%, dividends add to total shareholder return.
Expected dividends in 5 years:
$10.723932232920166.
Step 5: Discount the Projected Stock Price
Projected stock price: $6.
Including dividends, total future value: $16.72.
Discounted at 10% per
year over 5 years → Fair Value:
$10.
