Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
27.29M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
1.28%.
Starting with 27.29M and growing at 1.28%
for 5 years, we estimate Free Cash Flow will be
29.08M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 17.03M.
We will project this out 5 year(s) with a growth rate
of -0.04%.
Estimated Diluted Shares Outstanding: 16.99M.
Step 3: Project Future Stock Price
Using a price ratio of 15.32, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(29.08M ÷ 16.99M) × 15.32 =
$26
Step 4: Project Future Dividends Paid
Forward dividend per share: $0.46.
Projected over 5 years with a growth rate of
4.01%, dividends add to total shareholder return.
Expected dividends in 5 years:
$2.5375556594284743.
Step 5: Discount the Projected Stock Price
Projected stock price: $26.
Including dividends, total future value: $28.54.
Discounted at 10% per
year over 5 years → Fair Value:
$17.
