Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
70.64M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
0%.
Starting with 70.64M and growing at 0%
for 5 years, we estimate Free Cash Flow will be
70.64M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 72.15M.
We will project this out 5 year(s) with a growth rate
of -0.21%.
Estimated Diluted Shares Outstanding: 71.4M.
Step 3: Project Future Stock Price
Using a price ratio of 20.87, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(70.64M ÷ 71.4M) × 20.87 =
$20
Step 4: Project Future Dividends Paid
Forward dividend per share: $0.3.
Projected over 5 years with a growth rate of
n/a, dividends add to total shareholder return.
Expected dividends in 5 years:
$1.5.
Step 5: Discount the Projected Stock Price
Projected stock price: $20.
Including dividends, total future value: $21.5.
Discounted at 10% per
year over 5 years → Fair Value:
$13.
