Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
154M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
5.96%.
Starting with 154M and growing at 5.96%
for 5 years, we estimate Free Cash Flow will be
205.7M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 84.67M.
We will project this out 5 year(s) with a growth rate
of 2.12%.
Estimated Diluted Shares Outstanding: 94.03M.
Step 3: Project Future Stock Price
Using a price ratio of 6.25, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(205.7M ÷ 94.03M) × 6.25 =
$13
Step 4: Project Future Dividends Paid
Forward dividend per share: $0.6.
Projected over 5 years with a growth rate of
8.45%, dividends add to total shareholder return.
Expected dividends in 5 years:
$3.6744737196779136.
Step 5: Discount the Projected Stock Price
Projected stock price: $13.
Including dividends, total future value: $16.67.
Discounted at 10% per
year over 5 years → Fair Value:
$10.
