Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
129.37M
as of Jul 31, 2025.
We will project this out 5 years with a yearly growth
rate of
-6.55%.
Starting with 129.37M and growing at -6.55%
for 5 years, we estimate Free Cash Flow will be
92.2M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 53.21M.
We will project this out 5 year(s) with a growth rate
of -0.5%.
Estimated Diluted Shares Outstanding: 51.89M.
Step 3: Project Future Stock Price
Using a price ratio of 14.63, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(92.2M ÷ 51.89M) × 14.63 =
$25
Step 4: Project Future Dividends Paid
Forward dividend per share: $1.77.
Projected over 5 years with a growth rate of
-4.92%, dividends add to total shareholder return.
Expected dividends in 5 years:
$7.801286065367252.
Step 5: Discount the Projected Stock Price
Projected stock price: $25.
Including dividends, total future value: $32.8.
Discounted at 10% per
year over 5 years → Fair Value:
$20.
