Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
19.7M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
5.59%.
Starting with 19.7M and growing at 5.59%
for 5 years, we estimate Free Cash Flow will be
25.86M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 6.91M.
We will project this out 5 year(s) with a growth rate
of -0.95%.
Estimated Diluted Shares Outstanding: 6.58M.
Step 3: Project Future Stock Price
Using a price ratio of 7.47, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(25.86M ÷ 6.58M) × 7.47 =
$29
Step 4: Project Future Dividends Paid
Forward dividend per share: $0.97.
Projected over 5 years with a growth rate of
5.42%, dividends add to total shareholder return.
Expected dividends in 5 years:
$5.534128872766174.
Step 5: Discount the Projected Stock Price
Projected stock price: $29.
Including dividends, total future value: $34.53.
Discounted at 10% per
year over 5 years → Fair Value:
$21.
