Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
134.8M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
5.03%.
Starting with 134.8M and growing at 5.03%
for 5 years, we estimate Free Cash Flow will be
172.28M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 38.35M.
We will project this out 5 year(s) with a growth rate
of -0.53%.
Estimated Diluted Shares Outstanding: 37.34M.
Step 3: Project Future Stock Price
Using a price ratio of 8.61, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(172.28M ÷ 37.34M) × 8.61 =
$39
Step 4: Project Future Dividends Paid
Forward dividend per share: $1.36.
Projected over 5 years with a growth rate of
-1.85%, dividends add to total shareholder return.
Expected dividends in 5 years:
$6.489850201508849.
Step 5: Discount the Projected Stock Price
Projected stock price: $39.
Including dividends, total future value: $45.49.
Discounted at 10% per
year over 5 years → Fair Value:
$28.
