Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
113M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
-20.91%.
Starting with 113M and growing at -20.91%
for 5 years, we estimate Free Cash Flow will be
34.97M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 82.15M.
We will project this out 5 year(s) with a growth rate
of 0.07%.
Estimated Diluted Shares Outstanding: 82.44M.
Step 3: Project Future Stock Price
Using a price ratio of 29.15, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(34.97M ÷ 82.44M) × 29.15 =
$12
Step 4: Project Future Dividends Paid
Forward dividend per share: $0.21.
Projected over 5 years with a growth rate of
n/a, dividends add to total shareholder return.
Expected dividends in 5 years:
$1.05.
Step 5: Discount the Projected Stock Price
Projected stock price: $12.
Including dividends, total future value: $13.05.
Discounted at 10% per
year over 5 years → Fair Value:
$8.
