Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
63.11M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
-6.64%.
Starting with 63.11M and growing at -6.64%
for 5 years, we estimate Free Cash Flow will be
44.76M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 42.47M.
We will project this out 5 year(s) with a growth rate
of 0.05%.
Estimated Diluted Shares Outstanding: 42.57M.
Step 3: Project Future Stock Price
Using a price ratio of 42.85, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(44.76M ÷ 42.57M) × 42.85 =
$45
Step 4: Project Future Dividends Paid
Forward dividend per share: $2.05.
Projected over 5 years with a growth rate of
-4.64%, dividends add to total shareholder return.
Expected dividends in 5 years:
$9.102055334069094.
Step 5: Discount the Projected Stock Price
Projected stock price: $45.
Including dividends, total future value: $54.1.
Discounted at 10% per
year over 5 years → Fair Value:
$33.
