Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
29.23M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
-4.4%.
Starting with 29.23M and growing at -4.4%
for 5 years, we estimate Free Cash Flow will be
23.34M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 16.47M.
We will project this out 5 year(s) with a growth rate
of -0.14%.
Estimated Diluted Shares Outstanding: 16.35M.
Step 3: Project Future Stock Price
Using a price ratio of 17.98, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(23.34M ÷ 16.35M) × 17.98 =
$25
Step 4: Project Future Dividends Paid
Forward dividend per share: $1.4.
Projected over 5 years with a growth rate of
-3.39%, dividends add to total shareholder return.
Expected dividends in 5 years:
$6.421747795296101.
Step 5: Discount the Projected Stock Price
Projected stock price: $25.
Including dividends, total future value: $31.42.
Discounted at 10% per
year over 5 years → Fair Value:
$19.
