Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
101.26M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
0.77%.
Starting with 101.26M and growing at 0.77%
for 5 years, we estimate Free Cash Flow will be
105.22M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 28.81M.
We will project this out 5 year(s) with a growth rate
of 0.1%.
Estimated Diluted Shares Outstanding: 28.95M.
Step 3: Project Future Stock Price
Using a price ratio of 9.64, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(105.22M ÷ 28.95M) × 9.64 =
$35
Step 4: Project Future Dividends Paid
Forward dividend per share: $1.07.
Projected over 5 years with a growth rate of
1.61%, dividends add to total shareholder return.
Expected dividends in 5 years:
$5.567944663542419.
Step 5: Discount the Projected Stock Price
Projected stock price: $35.
Including dividends, total future value: $40.57.
Discounted at 10% per
year over 5 years → Fair Value:
$25.
