Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
171.07M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
3.77%.
Starting with 171.07M and growing at 3.77%
for 5 years, we estimate Free Cash Flow will be
205.84M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 171.58M.
We will project this out 5 year(s) with a growth rate
of 5.96%.
Estimated Diluted Shares Outstanding: 229.18M.
Step 3: Project Future Stock Price
Using a price ratio of 10.94, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(205.84M ÷ 229.18M) × 10.94 =
$9
Step 4: Project Future Dividends Paid
Forward dividend per share: $2.35.
Projected over 5 years with a growth rate of
-10.68%, dividends add to total shareholder return.
Expected dividends in 5 years:
$8.859508978521703.
Step 5: Discount the Projected Stock Price
Projected stock price: $9.
Including dividends, total future value: $17.86.
Discounted at 10% per
year over 5 years → Fair Value:
$11.
