Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
92.24M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
3.02%.
Starting with 92.24M and growing at 3.02%
for 5 years, we estimate Free Cash Flow will be
107.03M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 26.98M.
We will project this out 5 year(s) with a growth rate
of -1.06%.
Estimated Diluted Shares Outstanding: 25.58M.
Step 3: Project Future Stock Price
Using a price ratio of 8.88, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(107.03M ÷ 25.58M) × 8.88 =
$37
Step 4: Project Future Dividends Paid
Forward dividend per share: $1.33.
Projected over 5 years with a growth rate of
-2.51%, dividends add to total shareholder return.
Expected dividends in 5 years:
$6.240534971386418.
Step 5: Discount the Projected Stock Price
Projected stock price: $37.
Including dividends, total future value: $43.24.
Discounted at 10% per
year over 5 years → Fair Value:
$26.
