Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
202.45M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
13.27%.
Starting with 202.45M and growing at 13.27%
for 5 years, we estimate Free Cash Flow will be
377.49M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 108.81M.
We will project this out 5 year(s) with a growth rate
of 4.95%.
Estimated Diluted Shares Outstanding: 138.54M.
Step 3: Project Future Stock Price
Using a price ratio of 4.54, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(377.49M ÷ 138.54M) × 4.54 =
$12
Step 4: Project Future Dividends Paid
Forward dividend per share: $0.4.
Projected over 5 years with a growth rate of
-16.73%, dividends add to total shareholder return.
Expected dividends in 5 years:
$1.2654686985053063.
Step 5: Discount the Projected Stock Price
Projected stock price: $12.
Including dividends, total future value: $13.27.
Discounted at 10% per
year over 5 years → Fair Value:
$8.
