Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
74.35M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
11.23%.
Starting with 74.35M and growing at 11.23%
for 5 years, we estimate Free Cash Flow will be
126.58M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 33.31M.
We will project this out 5 year(s) with a growth rate
of 0.17%.
Estimated Diluted Shares Outstanding: 33.59M.
Step 3: Project Future Stock Price
Using a price ratio of 17.8, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(126.58M ÷ 33.59M) × 17.8 =
$67
Step 4: Project Future Dividends Paid
Forward dividend per share: $2.33.
Projected over 5 years with a growth rate of
1.33%, dividends add to total shareholder return.
Expected dividends in 5 years:
$12.041234991823655.
Step 5: Discount the Projected Stock Price
Projected stock price: $67.
Including dividends, total future value: $79.04.
Discounted at 10% per
year over 5 years → Fair Value:
$49.
