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 29.22M.
We will project this out 5 year(s) with a growth rate
of 6.63%.
Estimated Diluted Shares Outstanding: 40.28M.
Step 3: Project Future Stock Price
Using a price ratio of 11.18, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(88.66M ÷ 40.28M) × 11.18 =
$24
Step 4: Project Future Dividends Paid
Forward dividend per share: $2.23.
Projected over 5 years with a growth rate of
22.98%, dividends add to total shareholder return.
Expected dividends in 5 years:
$18.700838908084815.
Step 5: Discount the Projected Stock Price
Projected stock price: $24.
Including dividends, total future value: $42.7.
Discounted at 10% per
year over 5 years → Fair Value:
$26.
