Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
138.95M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
0%.
Starting with 138.95M and growing at 0%
for 5 years, we estimate Free Cash Flow will be
138.95M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 41.91M.
We will project this out 5 year(s) with a growth rate
of 1.04%.
Estimated Diluted Shares Outstanding: 44.13M.
Step 3: Project Future Stock Price
Using a price ratio of 13.93, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(138.95M ÷ 44.13M) × 13.93 =
$43
Step 4: Project Future Dividends Paid
Forward dividend per share: $2.51.
Projected over 5 years with a growth rate of
1.25%, dividends add to total shareholder return.
Expected dividends in 5 years:
$12.945871905800646.
Step 5: Discount the Projected Stock Price
Projected stock price: $43.
Including dividends, total future value: $55.95.
Discounted at 10% per
year over 5 years → Fair Value:
$34.
