Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
78.33M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
21.87%.
Starting with 78.33M and growing at 21.87%
for 5 years, we estimate Free Cash Flow will be
210.56M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 35.91M.
We will project this out 5 year(s) with a growth rate
of -1.06%.
Estimated Diluted Shares Outstanding: 34.05M.
Step 3: Project Future Stock Price
Using a price ratio of 4.69, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(210.56M ÷ 34.05M) × 4.69 =
$29
Step 4: Project Future Dividends Paid
Forward dividend per share: $0.85.
Projected over 5 years with a growth rate of
-4.44%, dividends add to total shareholder return.
Expected dividends in 5 years:
$3.793842372428674.
Step 5: Discount the Projected Stock Price
Projected stock price: $29.
Including dividends, total future value: $32.79.
Discounted at 10% per
year over 5 years → Fair Value:
$20.
