Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
112.24M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
0.99%.
Starting with 112.24M and growing at 0.99%
for 5 years, we estimate Free Cash Flow will be
117.91M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 24.37M.
We will project this out 5 year(s) with a growth rate
of 0.93%.
Estimated Diluted Shares Outstanding: 25.52M.
Step 3: Project Future Stock Price
Using a price ratio of 8.33, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(117.91M ÷ 25.52M) × 8.33 =
$38
Step 4: Project Future Dividends Paid
Forward dividend per share: $2.95.
Projected over 5 years with a growth rate of
2.17%, dividends add to total shareholder return.
Expected dividends in 5 years:
$15.563257524664408.
Step 5: Discount the Projected Stock Price
Projected stock price: $38.
Including dividends, total future value: $53.56.
Discounted at 10% per
year over 5 years → Fair Value:
$33.
