Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
187.27M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
5.83%.
Starting with 187.27M and growing at 5.83%
for 5 years, we estimate Free Cash Flow will be
248.61M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 95.99M.
We will project this out 5 year(s) with a growth rate
of 2.19%.
Estimated Diluted Shares Outstanding: 106.97M.
Step 3: Project Future Stock Price
Using a price ratio of 16.51, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(248.61M ÷ 106.97M) × 16.51 =
$38
Step 4: Project Future Dividends Paid
Forward dividend per share: $1.84.
Projected over 5 years with a growth rate of
-2.81%, dividends add to total shareholder return.
Expected dividends in 5 years:
$8.567256755906286.
Step 5: Discount the Projected Stock Price
Projected stock price: $38.
Including dividends, total future value: $46.57.
Discounted at 10% per
year over 5 years → Fair Value:
$28.
