Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
182.14M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
14.58%.
Starting with 182.14M and growing at 14.58%
for 5 years, we estimate Free Cash Flow will be
359.72M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 160.8M.
We will project this out 5 year(s) with a growth rate
of -0.81%.
Estimated Diluted Shares Outstanding: 154.39M.
Step 3: Project Future Stock Price
Using a price ratio of 12.94, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(359.72M ÷ 154.39M) × 12.94 =
$30
Step 4: Project Future Dividends Paid
Forward dividend per share: $1.05.
Projected over 5 years with a growth rate of
-16.14%, dividends add to total shareholder return.
Expected dividends in 5 years:
$3.381009947809545.
Step 5: Discount the Projected Stock Price
Projected stock price: $30.
Including dividends, total future value: $33.38.
Discounted at 10% per
year over 5 years → Fair Value:
$20.
