Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
182.01M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
6.4%.
Starting with 182.01M and growing at 6.4%
for 5 years, we estimate Free Cash Flow will be
248.2M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 172.12M.
We will project this out 5 year(s) with a growth rate
of 0.57%.
Estimated Diluted Shares Outstanding: 177.08M.
Step 3: Project Future Stock Price
Using a price ratio of 14.15, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(248.2M ÷ 177.08M) × 14.15 =
$19
Step 4: Project Future Dividends Paid
Forward dividend per share: $0.31.
Projected over 5 years with a growth rate of
0.98%, dividends add to total shareholder return.
Expected dividends in 5 years:
$1.5882545715830454.
Step 5: Discount the Projected Stock Price
Projected stock price: $19.
Including dividends, total future value: $20.59.
Discounted at 10% per
year over 5 years → Fair Value:
$12.
