Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
223.15M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
5.01%.
Starting with 223.15M and growing at 5.01%
for 5 years, we estimate Free Cash Flow will be
284.94M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 211.85M.
We will project this out 5 year(s) with a growth rate
of 0.45%.
Estimated Diluted Shares Outstanding: 216.66M.
Step 3: Project Future Stock Price
Using a price ratio of 8.81, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(284.94M ÷ 216.66M) × 8.81 =
$11
Step 4: Project Future Dividends Paid
Forward dividend per share: $1.8.
Projected over 5 years with a growth rate of
9.08%, dividends add to total shareholder return.
Expected dividends in 5 years:
$11.184210505193617.
Step 5: Discount the Projected Stock Price
Projected stock price: $11.
Including dividends, total future value: $22.18.
Discounted at 10% per
year over 5 years → Fair Value:
$13.
