Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
125.42M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
-2.1%.
Starting with 125.42M and growing at -2.1%
for 5 years, we estimate Free Cash Flow will be
112.79M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 60.64M.
We will project this out 5 year(s) with a growth rate
of -1.81%.
Estimated Diluted Shares Outstanding: 55.35M.
Step 3: Project Future Stock Price
Using a price ratio of 17.35, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(112.79M ÷ 55.35M) × 17.35 =
$35
Step 4: Project Future Dividends Paid
Forward dividend per share: $0.5.
Projected over 5 years with a growth rate of
n/a, dividends add to total shareholder return.
Expected dividends in 5 years:
$2.5.
Step 5: Discount the Projected Stock Price
Projected stock price: $35.
Including dividends, total future value: $37.5.
Discounted at 10% per
year over 5 years → Fair Value:
$23.
