Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
53.23M
as of Jul 1, 2025.
We will project this out 5 years with a yearly growth
rate of
-6.2%.
Starting with 53.23M and growing at -6.2%
for 5 years, we estimate Free Cash Flow will be
38.65M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 22.12M.
We will project this out 5 year(s) with a growth rate
of 2.91%.
Estimated Diluted Shares Outstanding: 25.54M.
Step 3: Project Future Stock Price
Using a price ratio of 19.99, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(38.65M ÷ 25.54M) × 19.99 =
$30
Step 4: Project Future Dividends Paid
Forward dividend per share: $0.
Projected over 5 years with a growth rate of
n/a, dividends add to total shareholder return.
Expected dividends in 5 years:
$0.
Step 5: Discount the Projected Stock Price
Projected stock price: $30.
Including dividends, total future value: $30.
Discounted at 10% per
year over 5 years → Fair Value:
$18.
