Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
138.68M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
6.8%.
Starting with 138.68M and growing at 6.8%
for 5 years, we estimate Free Cash Flow will be
192.69M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 43.89M.
We will project this out 5 year(s) with a growth rate
of 1.65%.
Estimated Diluted Shares Outstanding: 47.63M.
Step 3: Project Future Stock Price
Using a price ratio of 11.32, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(192.69M ÷ 47.63M) × 11.32 =
$45
Step 4: Project Future Dividends Paid
Forward dividend per share: $1.25.
Projected over 5 years with a growth rate of
-8.03%, dividends add to total shareholder return.
Expected dividends in 5 years:
$5.06985435854173.
Step 5: Discount the Projected Stock Price
Projected stock price: $45.
Including dividends, total future value: $50.07.
Discounted at 10% per
year over 5 years → Fair Value:
$31.
