Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
11.4M
as of May 3, 2025.
We will project this out 5 years with a yearly growth
rate of
-6.68%.
Starting with 11.4M and growing at -6.68%
for 5 years, we estimate Free Cash Flow will be
8.07M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 14.87M.
We will project this out 5 year(s) with a growth rate
of -1.32%.
Estimated Diluted Shares Outstanding: 13.91M.
Step 3: Project Future Stock Price
Using a price ratio of 18.3, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(8.07M ÷ 13.91M) × 18.3 =
$10
Step 4: Project Future Dividends Paid
Forward dividend per share: $3.41.
Projected over 5 years with a growth rate of
19.59%, dividends add to total shareholder return.
Expected dividends in 5 years:
$26.666225542457028.
Step 5: Discount the Projected Stock Price
Projected stock price: $10.
Including dividends, total future value: $36.67.
Discounted at 10% per
year over 5 years → Fair Value:
$22.
