Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
6.32M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
6.35%.
Starting with 6.32M and growing at 6.35%
for 5 years, we estimate Free Cash Flow will be
8.59M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 7.9M.
We will project this out 5 year(s) with a growth rate
of -0.93%.
Estimated Diluted Shares Outstanding: 7.54M.
Step 3: Project Future Stock Price
Using a price ratio of 10.77, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(8.59M ÷ 7.54M) × 10.77 =
$12
Step 4: Project Future Dividends Paid
Forward dividend per share: $1.26.
Projected over 5 years with a growth rate of
-0.76%, dividends add to total shareholder return.
Expected dividends in 5 years:
$6.180981424943099.
Step 5: Discount the Projected Stock Price
Projected stock price: $12.
Including dividends, total future value: $18.18.
Discounted at 10% per
year over 5 years → Fair Value:
$11.
