Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
25.65M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
-1.65%.
Starting with 25.65M and growing at -1.65%
for 5 years, we estimate Free Cash Flow will be
23.6M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 48.2M.
We will project this out 5 year(s) with a growth rate
of 1%.
Estimated Diluted Shares Outstanding: 50.65M.
Step 3: Project Future Stock Price
Using a price ratio of 33.61, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(23.6M ÷ 50.65M) × 33.61 =
$15
Step 4: Project Future Dividends Paid
Forward dividend per share: $0.22.
Projected over 5 years with a growth rate of
-0.36%, dividends add to total shareholder return.
Expected dividends in 5 years:
$1.090126713954775.
Step 5: Discount the Projected Stock Price
Projected stock price: $15.
Including dividends, total future value: $16.09.
Discounted at 10% per
year over 5 years → Fair Value:
$9.
