Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
71.6M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
4.59%.
Starting with 71.6M and growing at 4.59%
for 5 years, we estimate Free Cash Flow will be
89.61M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 50.38M.
We will project this out 5 year(s) with a growth rate
of -0.98%.
Estimated Diluted Shares Outstanding: 47.96M.
Step 3: Project Future Stock Price
Using a price ratio of 4.95, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(89.61M ÷ 47.96M) × 4.95 =
$9
Step 4: Project Future Dividends Paid
Forward dividend per share: $0.32.
Projected over 5 years with a growth rate of
-18.88%, dividends add to total shareholder return.
Expected dividends in 5 years:
$0.9482870889598225.
Step 5: Discount the Projected Stock Price
Projected stock price: $9.
Including dividends, total future value: $9.95.
Discounted at 10% per
year over 5 years → Fair Value:
$6.
