Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
155.3M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
-1.32%.
Starting with 155.3M and growing at -1.32%
for 5 years, we estimate Free Cash Flow will be
145.31M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 39.77M.
We will project this out 5 year(s) with a growth rate
of -0.47%.
Estimated Diluted Shares Outstanding: 38.84M.
Step 3: Project Future Stock Price
Using a price ratio of 14.68, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(145.31M ÷ 38.84M) × 14.68 =
$54
Step 4: Project Future Dividends Paid
Forward dividend per share: $3.5.
Projected over 5 years with a growth rate of
-4.76%, dividends add to total shareholder return.
Expected dividends in 5 years:
$15.491251883874732.
Step 5: Discount the Projected Stock Price
Projected stock price: $54.
Including dividends, total future value: $69.49.
Discounted at 10% per
year over 5 years → Fair Value:
$43.
