Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
14.52M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
7.18%.
Starting with 14.52M and growing at 7.18%
for 5 years, we estimate Free Cash Flow will be
20.54M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 44.16M.
We will project this out 5 year(s) with a growth rate
of 13.16%.
Estimated Diluted Shares Outstanding: 81.95M.
Step 3: Project Future Stock Price
Using a price ratio of 68.03, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(20.54M ÷ 81.95M) × 68.03 =
$17
Step 4: Project Future Dividends Paid
Forward dividend per share: $1.45.
Projected over 5 years with a growth rate of
3.71%, dividends add to total shareholder return.
Expected dividends in 5 years:
$7.94126323650127.
Step 5: Discount the Projected Stock Price
Projected stock price: $17.
Including dividends, total future value: $24.94.
Discounted at 10% per
year over 5 years → Fair Value:
$15.
