Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
43.76M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
3.61%.
Starting with 43.76M and growing at 3.61%
for 5 years, we estimate Free Cash Flow will be
52.25M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 21.6M.
We will project this out 5 year(s) with a growth rate
of 1.62%.
Estimated Diluted Shares Outstanding: 23.41M.
Step 3: Project Future Stock Price
Using a price ratio of 12.25, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(52.25M ÷ 23.41M) × 12.25 =
$27
Step 4: Project Future Dividends Paid
Forward dividend per share: $2.25.
Projected over 5 years with a growth rate of
-5.59%, dividends add to total shareholder return.
Expected dividends in 5 years:
$9.74310799783745.
Step 5: Discount the Projected Stock Price
Projected stock price: $27.
Including dividends, total future value: $36.74.
Discounted at 10% per
year over 5 years → Fair Value:
$22.
