Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
42.4M
as of Mar 31, 2024.
We will project this out 5 years with a yearly growth
rate of
-11.11%.
Starting with 42.4M and growing at -11.11%
for 5 years, we estimate Free Cash Flow will be
23.53M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 19.8M.
We will project this out 5 year(s) with a growth rate
of -2.64%.
Estimated Diluted Shares Outstanding: 17.32M.
Step 3: Project Future Stock Price
Using a price ratio of 14.6, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(23.53M ÷ 17.32M) × 14.6 =
$19
Step 4: Project Future Dividends Paid
Forward dividend per share: $0.
Projected over 5 years with a growth rate of
n/a, dividends add to total shareholder return.
Expected dividends in 5 years:
$0.
Step 5: Discount the Projected Stock Price
Projected stock price: $19.
Including dividends, total future value: $19.
Discounted at 10% per
year over 5 years → Fair Value:
$11.
