Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
121.37M
as of Aug 30, 2025.
We will project this out 5 years with a yearly growth
rate of
-4.66%.
Starting with 121.37M and growing at -4.66%
for 5 years, we estimate Free Cash Flow will be
95.61M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 54.09M.
We will project this out 5 year(s) with a growth rate
of 1.73%.
Estimated Diluted Shares Outstanding: 58.93M.
Step 3: Project Future Stock Price
Using a price ratio of 26.11, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(95.61M ÷ 58.93M) × 26.11 =
$42
Step 4: Project Future Dividends Paid
Forward dividend per share: $1.14.
Projected over 5 years with a growth rate of
1.35%, dividends add to total shareholder return.
Expected dividends in 5 years:
$5.894327172052212.
Step 5: Discount the Projected Stock Price
Projected stock price: $42.
Including dividends, total future value: $47.89.
Discounted at 10% per
year over 5 years → Fair Value:
$29.
