Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
23.67M
as of Aug 2, 2025.
We will project this out 5 years with a yearly growth
rate of
7.48%.
Starting with 23.67M and growing at 7.48%
for 5 years, we estimate Free Cash Flow will be
33.95M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 27.37M.
We will project this out 5 year(s) with a growth rate
of -1.29%.
Estimated Diluted Shares Outstanding: 25.65M.
Step 3: Project Future Stock Price
Using a price ratio of 15.82, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(33.95M ÷ 25.65M) × 15.82 =
$20
Step 4: Project Future Dividends Paid
Forward dividend per share: $0.72.
Projected over 5 years with a growth rate of
27.30%, dividends add to total shareholder return.
Expected dividends in 5 years:
$6.582236915975907.
Step 5: Discount the Projected Stock Price
Projected stock price: $20.
Including dividends, total future value: $26.58.
Discounted at 10% per
year over 5 years → Fair Value:
$16.
