Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
28M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
0%.
Starting with 28M and growing at 0%
for 5 years, we estimate Free Cash Flow will be
28M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 40.79M.
We will project this out 5 year(s) with a growth rate
of -3.31%.
Estimated Diluted Shares Outstanding: 34.47M.
Step 3: Project Future Stock Price
Using a price ratio of 10.99, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(28M ÷ 34.47M) × 10.99 =
$8
Step 4: Project Future Dividends Paid
Forward dividend per share: $4.15.
Projected over 5 years with a growth rate of
2.46%, dividends add to total shareholder return.
Expected dividends in 5 years:
$22.04976574405674.
Step 5: Discount the Projected Stock Price
Projected stock price: $8.
Including dividends, total future value: $30.05.
Discounted at 10% per
year over 5 years → Fair Value:
$18.
