Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
191.25M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
2.1%.
Starting with 191.25M and growing at 2.1%
for 5 years, we estimate Free Cash Flow will be
212.19M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 295.79M.
We will project this out 5 year(s) with a growth rate
of 4.15%.
Estimated Diluted Shares Outstanding: 362.47M.
Step 3: Project Future Stock Price
Using a price ratio of 16.18, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(212.19M ÷ 362.47M) × 16.18 =
$9
Step 4: Project Future Dividends Paid
Forward dividend per share: $0.67.
Projected over 5 years with a growth rate of
-0.84%, dividends add to total shareholder return.
Expected dividends in 5 years:
$3.280092583859841.
Step 5: Discount the Projected Stock Price
Projected stock price: $9.
Including dividends, total future value: $12.28.
Discounted at 10% per
year over 5 years → Fair Value:
$7.
