Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
111.3M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
10.51%.
Starting with 111.3M and growing at 10.51%
for 5 years, we estimate Free Cash Flow will be
183.45M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 20.74M.
We will project this out 5 year(s) with a growth rate
of 1.62%.
Estimated Diluted Shares Outstanding: 22.47M.
Step 3: Project Future Stock Price
Using a price ratio of 1.78, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(183.45M ÷ 22.47M) × 1.78 =
$14
Step 4: Project Future Dividends Paid
Forward dividend per share: $0.45.
Projected over 5 years with a growth rate of
-12.94%, dividends add to total shareholder return.
Expected dividends in 5 years:
$1.591216139621628.
Step 5: Discount the Projected Stock Price
Projected stock price: $14.
Including dividends, total future value: $15.59.
Discounted at 10% per
year over 5 years → Fair Value:
$9.
