Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
30.35M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
-13.26%.
Starting with 30.35M and growing at -13.26%
for 5 years, we estimate Free Cash Flow will be
14.9M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 33.56M.
We will project this out 5 year(s) with a growth rate
of -0.91%.
Estimated Diluted Shares Outstanding: 32.06M.
Step 3: Project Future Stock Price
Using a price ratio of 27.96, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(14.9M ÷ 32.06M) × 27.96 =
$12
Step 4: Project Future Dividends Paid
Forward dividend per share: $2.49.
Projected over 5 years with a growth rate of
1.43%, dividends add to total shareholder return.
Expected dividends in 5 years:
$12.89987242018071.
Step 5: Discount the Projected Stock Price
Projected stock price: $12.
Including dividends, total future value: $24.9.
Discounted at 10% per
year over 5 years → Fair Value:
$15.
