Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
164.13M
as of Aug 2, 2025.
We will project this out 5 years with a yearly growth
rate of
10.12%.
Starting with 164.13M and growing at 10.12%
for 5 years, we estimate Free Cash Flow will be
265.77M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 51.16M.
We will project this out 5 year(s) with a growth rate
of 0.61%.
Estimated Diluted Shares Outstanding: 52.74M.
Step 3: Project Future Stock Price
Using a price ratio of 8.89, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(265.77M ÷ 52.74M) × 8.89 =
$44
Step 4: Project Future Dividends Paid
Forward dividend per share: $3.9.
Projected over 5 years with a growth rate of
-1.23%, dividends add to total shareholder return.
Expected dividends in 5 years:
$18.90589518346733.
Step 5: Discount the Projected Stock Price
Projected stock price: $44.
Including dividends, total future value: $62.91.
Discounted at 10% per
year over 5 years → Fair Value:
$39.
