Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
45.65M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
4.36%.
Starting with 45.65M and growing at 4.36%
for 5 years, we estimate Free Cash Flow will be
56.51M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 19.31M.
We will project this out 5 year(s) with a growth rate
of -1.78%.
Estimated Diluted Shares Outstanding: 17.65M.
Step 3: Project Future Stock Price
Using a price ratio of 9.59, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(56.51M ÷ 17.65M) × 9.59 =
$30
Step 4: Project Future Dividends Paid
Forward dividend per share: $0.83.
Projected over 5 years with a growth rate of
3.00%, dividends add to total shareholder return.
Expected dividends in 5 years:
$4.4682880104836284.
Step 5: Discount the Projected Stock Price
Projected stock price: $30.
Including dividends, total future value: $34.47.
Discounted at 10% per
year over 5 years → Fair Value:
$21.
