Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
240.56M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
7.43%.
Starting with 240.56M and growing at 7.43%
for 5 years, we estimate Free Cash Flow will be
344.23M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 85.27M.
We will project this out 5 year(s) with a growth rate
of -1.52%.
Estimated Diluted Shares Outstanding: 78.98M.
Step 3: Project Future Stock Price
Using a price ratio of 1.97, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(344.23M ÷ 78.98M) × 1.97 =
$8
Step 4: Project Future Dividends Paid
Forward dividend per share: $2.
Projected over 5 years with a growth rate of
18.32%, dividends add to total shareholder return.
Expected dividends in 5 years:
$15.228088863404455.
Step 5: Discount the Projected Stock Price
Projected stock price: $8.
Including dividends, total future value: $23.23.
Discounted at 10% per
year over 5 years → Fair Value:
$14.
