Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
36.63M
as of Apr 26, 2025.
We will project this out 5 years with a yearly growth
rate of
-8.6%.
Starting with 36.63M and growing at -8.6%
for 5 years, we estimate Free Cash Flow will be
23.37M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 14.31M.
We will project this out 5 year(s) with a growth rate
of 0.38%.
Estimated Diluted Shares Outstanding: 14.58M.
Step 3: Project Future Stock Price
Using a price ratio of 9.54, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(23.37M ÷ 14.58M) × 9.54 =
$15
Step 4: Project Future Dividends Paid
Forward dividend per share: $1.25.
Projected over 5 years with a growth rate of
n/a, dividends add to total shareholder return.
Expected dividends in 5 years:
$6.25.
Step 5: Discount the Projected Stock Price
Projected stock price: $15.
Including dividends, total future value: $21.25.
Discounted at 10% per
year over 5 years → Fair Value:
$13.
