Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
305M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
2.59%.
Starting with 305M and growing at 2.59%
for 5 years, we estimate Free Cash Flow will be
346.6M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 296.4M.
We will project this out 5 year(s) with a growth rate
of 0.9%.
Estimated Diluted Shares Outstanding: 309.98M.
Step 3: Project Future Stock Price
Using a price ratio of 1.64, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(346.6M ÷ 309.98M) × 1.64 =
$1
Step 4: Project Future Dividends Paid
Forward dividend per share: $0.22.
Projected over 5 years with a growth rate of
0.98%, dividends add to total shareholder return.
Expected dividends in 5 years:
$1.1271484056395806.
Step 5: Discount the Projected Stock Price
Projected stock price: $1.
Including dividends, total future value: $2.13.
Discounted at 10% per
year over 5 years → Fair Value:
$1.
