Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
75.03M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
2.99%.
Starting with 75.03M and growing at 2.99%
for 5 years, we estimate Free Cash Flow will be
86.94M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 499.97M.
We will project this out 5 year(s) with a growth rate
of -2.55%.
Estimated Diluted Shares Outstanding: 439.39M.
Step 3: Project Future Stock Price
Using a price ratio of 63.09, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(86.94M ÷ 439.39M) × 63.09 =
$12
Step 4: Project Future Dividends Paid
Forward dividend per share: $0.52.
Projected over 5 years with a growth rate of
n/a, dividends add to total shareholder return.
Expected dividends in 5 years:
$2.6.
Step 5: Discount the Projected Stock Price
Projected stock price: $12.
Including dividends, total future value: $14.6.
Discounted at 10% per
year over 5 years → Fair Value:
$9.
