Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
69.77M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
1.91%.
Starting with 69.77M and growing at 1.91%
for 5 years, we estimate Free Cash Flow will be
76.69M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 17.07M.
We will project this out 5 year(s) with a growth rate
of 0.17%.
Estimated Diluted Shares Outstanding: 17.21M.
Step 3: Project Future Stock Price
Using a price ratio of 7.27, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(76.69M ÷ 17.21M) × 7.27 =
$32
Step 4: Project Future Dividends Paid
Forward dividend per share: $1.2.
Projected over 5 years with a growth rate of
5.36%, dividends add to total shareholder return.
Expected dividends in 5 years:
$6.836607628402623.
Step 5: Discount the Projected Stock Price
Projected stock price: $32.
Including dividends, total future value: $38.84.
Discounted at 10% per
year over 5 years → Fair Value:
$24.
