Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
124.07M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
-1.32%.
Starting with 124.07M and growing at -1.32%
for 5 years, we estimate Free Cash Flow will be
116.09M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 102.67M.
We will project this out 5 year(s) with a growth rate
of -2.11%.
Estimated Diluted Shares Outstanding: 92.28M.
Step 3: Project Future Stock Price
Using a price ratio of 15.49, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(116.09M ÷ 92.28M) × 15.49 =
$19
Step 4: Project Future Dividends Paid
Forward dividend per share: $1.43.
Projected over 5 years with a growth rate of
-3.64%, dividends add to total shareholder return.
Expected dividends in 5 years:
$6.5170044885991185.
Step 5: Discount the Projected Stock Price
Projected stock price: $19.
Including dividends, total future value: $25.52.
Discounted at 10% per
year over 5 years → Fair Value:
$15.
