Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
89.89M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
-1.47%.
Starting with 89.89M and growing at -1.47%
for 5 years, we estimate Free Cash Flow will be
83.47M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 14.43M.
We will project this out 5 year(s) with a growth rate
of -0.96%.
Estimated Diluted Shares Outstanding: 13.75M.
Step 3: Project Future Stock Price
Using a price ratio of 9.87, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(83.47M ÷ 13.75M) × 9.87 =
$59
Step 4: Project Future Dividends Paid
Forward dividend per share: $3.09.
Projected over 5 years with a growth rate of
-2.40%, dividends add to total shareholder return.
Expected dividends in 5 years:
$14.539619054311737.
Step 5: Discount the Projected Stock Price
Projected stock price: $59.
Including dividends, total future value: $73.54.
Discounted at 10% per
year over 5 years → Fair Value:
$45.
