Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
68.81M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
5.2%.
Starting with 68.81M and growing at 5.2%
for 5 years, we estimate Free Cash Flow will be
88.66M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 29.48M.
We will project this out 5 year(s) with a growth rate
of 6.63%.
Estimated Diluted Shares Outstanding: 40.63M.
Step 3: Project Future Stock Price
Using a price ratio of 10.26, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(88.66M ÷ 40.63M) × 10.26 =
$22
Step 4: Project Future Dividends Paid
Forward dividend per share: $0.9.
Projected over 5 years with a growth rate of
-4.51%, dividends add to total shareholder return.
Expected dividends in 5 years:
$4.009657221376668.
Step 5: Discount the Projected Stock Price
Projected stock price: $22.
Including dividends, total future value: $26.01.
Discounted at 10% per
year over 5 years → Fair Value:
$16.
