Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
266M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
0%.
Starting with 266M and growing at 0%
for 5 years, we estimate Free Cash Flow will be
266M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 446.19M.
We will project this out 5 year(s) with a growth rate
of 0.44%.
Estimated Diluted Shares Outstanding: 456.09M.
Step 3: Project Future Stock Price
Using a price ratio of 38.07, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(266M ÷ 456.09M) × 38.07 =
$22
Step 4: Project Future Dividends Paid
Forward dividend per share: $0.25.
Projected over 5 years with a growth rate of
n/a, dividends add to total shareholder return.
Expected dividends in 5 years:
$1.25.
Step 5: Discount the Projected Stock Price
Projected stock price: $22.
Including dividends, total future value: $23.25.
Discounted at 10% per
year over 5 years → Fair Value:
$14.
