Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
113.9M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
10.19%.
Starting with 113.9M and growing at 10.19%
for 5 years, we estimate Free Cash Flow will be
185.03M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 37.49M.
We will project this out 5 year(s) with a growth rate
of 2.81%.
Estimated Diluted Shares Outstanding: 43.07M.
Step 3: Project Future Stock Price
Using a price ratio of 11.13, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(185.03M ÷ 43.07M) × 11.13 =
$47
Step 4: Project Future Dividends Paid
Forward dividend per share: $1.41.
Projected over 5 years with a growth rate of
2.74%, dividends add to total shareholder return.
Expected dividends in 5 years:
$7.542894274886845.
Step 5: Discount the Projected Stock Price
Projected stock price: $47.
Including dividends, total future value: $54.54.
Discounted at 10% per
year over 5 years → Fair Value:
$33.
