Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
272.2M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
0%.
Starting with 272.2M and growing at 0%
for 5 years, we estimate Free Cash Flow will be
272.2M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 241.62M.
We will project this out 5 year(s) with a growth rate
of -1.38%.
Estimated Diluted Shares Outstanding: 225.4M.
Step 3: Project Future Stock Price
Using a price ratio of 20.18, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(272.2M ÷ 225.4M) × 20.18 =
$24
Step 4: Project Future Dividends Paid
Forward dividend per share: $0.32.
Projected over 5 years with a growth rate of
36.85%, dividends add to total shareholder return.
Expected dividends in 5 years:
$3.5053548378926487.
Step 5: Discount the Projected Stock Price
Projected stock price: $24.
Including dividends, total future value: $27.51.
Discounted at 10% per
year over 5 years → Fair Value:
$17.
