Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
118.38M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
5.08%.
Starting with 118.38M and growing at 5.08%
for 5 years, we estimate Free Cash Flow will be
151.66M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 37.34M.
We will project this out 5 year(s) with a growth rate
of 0.04%.
Estimated Diluted Shares Outstanding: 37.41M.
Step 3: Project Future Stock Price
Using a price ratio of 9.82, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(151.66M ÷ 37.41M) × 9.82 =
$39
Step 4: Project Future Dividends Paid
Forward dividend per share: $6.06.
Projected over 5 years with a growth rate of
-20.38%, dividends add to total shareholder return.
Expected dividends in 5 years:
$17.139496576556176.
Step 5: Discount the Projected Stock Price
Projected stock price: $39.
Including dividends, total future value: $56.14.
Discounted at 10% per
year over 5 years → Fair Value:
$34.
