Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
241M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
-11.26%.
Starting with 241M and growing at -11.26%
for 5 years, we estimate Free Cash Flow will be
132.62M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 55.89M.
We will project this out 5 year(s) with a growth rate
of -3.01%.
Estimated Diluted Shares Outstanding: 47.97M.
Step 3: Project Future Stock Price
Using a price ratio of 6.71, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(132.62M ÷ 47.97M) × 6.71 =
$18
Step 4: Project Future Dividends Paid
Forward dividend per share: $7.9.
Projected over 5 years with a growth rate of
-1.93%, dividends add to total shareholder return.
Expected dividends in 5 years:
$37.62162358536798.
Step 5: Discount the Projected Stock Price
Projected stock price: $18.
Including dividends, total future value: $55.62.
Discounted at 10% per
year over 5 years → Fair Value:
$34.
