Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
81.86M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
1.59%.
Starting with 81.86M and growing at 1.59%
for 5 years, we estimate Free Cash Flow will be
88.58M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 46.56M.
We will project this out 5 year(s) with a growth rate
of 6.35%.
Estimated Diluted Shares Outstanding: 63.34M.
Step 3: Project Future Stock Price
Using a price ratio of 8.97, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(88.58M ÷ 63.34M) × 8.97 =
$12
Step 4: Project Future Dividends Paid
Forward dividend per share: $1.2.
Projected over 5 years with a growth rate of
-9.73%, dividends add to total shareholder return.
Expected dividends in 5 years:
$4.645258177515791.
Step 5: Discount the Projected Stock Price
Projected stock price: $12.
Including dividends, total future value: $16.65.
Discounted at 10% per
year over 5 years → Fair Value:
$10.
