Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
96.94M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
10.97%.
Starting with 96.94M and growing at 10.97%
for 5 years, we estimate Free Cash Flow will be
163.13M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 58.66M.
We will project this out 5 year(s) with a growth rate
of -3.42%.
Estimated Diluted Shares Outstanding: 49.29M.
Step 3: Project Future Stock Price
Using a price ratio of 5.17, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(163.13M ÷ 49.29M) × 5.17 =
$17
Step 4: Project Future Dividends Paid
Forward dividend per share: $1.14.
Projected over 5 years with a growth rate of
2.60%, dividends add to total shareholder return.
Expected dividends in 5 years:
$6.077755956286588.
Step 5: Discount the Projected Stock Price
Projected stock price: $17.
Including dividends, total future value: $23.08.
Discounted at 10% per
year over 5 years → Fair Value:
$14.
