Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
31.2M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
8.43%.
Starting with 31.2M and growing at 8.43%
for 5 years, we estimate Free Cash Flow will be
46.76M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 13.72M.
We will project this out 5 year(s) with a growth rate
of 4%.
Estimated Diluted Shares Outstanding: 16.7M.
Step 3: Project Future Stock Price
Using a price ratio of 13.05, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(46.76M ÷ 16.7M) × 13.05 =
$36
Step 4: Project Future Dividends Paid
Forward dividend per share: $0.89.
Projected over 5 years with a growth rate of
0.30%, dividends add to total shareholder return.
Expected dividends in 5 years:
$4.483450131282806.
Step 5: Discount the Projected Stock Price
Projected stock price: $36.
Including dividends, total future value: $40.48.
Discounted at 10% per
year over 5 years → Fair Value:
$25.
