Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
128.9M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
5.19%.
Starting with 128.9M and growing at 5.19%
for 5 years, we estimate Free Cash Flow will be
166M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 14.49M.
We will project this out 5 year(s) with a growth rate
of -2.09%.
Estimated Diluted Shares Outstanding: 13.04M.
Step 3: Project Future Stock Price
Using a price ratio of 13.4, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(166M ÷ 13.04M) × 13.4 =
$170
Step 4: Project Future Dividends Paid
Forward dividend per share: $4.03.
Projected over 5 years with a growth rate of
7.28%, dividends add to total shareholder return.
Expected dividends in 5 years:
$24.01994245305343.
Step 5: Discount the Projected Stock Price
Projected stock price: $170.
Including dividends, total future value: $194.02.
Discounted at 10% per
year over 5 years → Fair Value:
$120.
