Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
124.46M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
-4.66%.
Starting with 124.46M and growing at -4.66%
for 5 years, we estimate Free Cash Flow will be
98.04M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 23.9M.
We will project this out 5 year(s) with a growth rate
of 1.78%.
Estimated Diluted Shares Outstanding: 26.1M.
Step 3: Project Future Stock Price
Using a price ratio of 20.33, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(98.04M ÷ 26.1M) × 20.33 =
$76
Step 4: Project Future Dividends Paid
Forward dividend per share: $3.
Projected over 5 years with a growth rate of
-5.59%, dividends add to total shareholder return.
Expected dividends in 5 years:
$12.990810663783266.
Step 5: Discount the Projected Stock Price
Projected stock price: $76.
Including dividends, total future value: $88.99.
Discounted at 10% per
year over 5 years → Fair Value:
$55.
