Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
181.85M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
3.79%.
Starting with 181.85M and growing at 3.79%
for 5 years, we estimate Free Cash Flow will be
219.02M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 52.39M.
We will project this out 5 year(s) with a growth rate
of 1.46%.
Estimated Diluted Shares Outstanding: 56.33M.
Step 3: Project Future Stock Price
Using a price ratio of 11.02, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(219.02M ÷ 56.33M) × 11.02 =
$42
Step 4: Project Future Dividends Paid
Forward dividend per share: $1.39.
Projected over 5 years with a growth rate of
-0.56%, dividends add to total shareholder return.
Expected dividends in 5 years:
$6.853108278316557.
Step 5: Discount the Projected Stock Price
Projected stock price: $42.
Including dividends, total future value: $48.85.
Discounted at 10% per
year over 5 years → Fair Value:
$30.
