Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
26.1M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
5.14%.
Starting with 26.1M and growing at 5.14%
for 5 years, we estimate Free Cash Flow will be
33.54M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 29.9M.
We will project this out 5 year(s) with a growth rate
of 3.1%.
Estimated Diluted Shares Outstanding: 34.83M.
Step 3: Project Future Stock Price
Using a price ratio of 6.07, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(33.54M ÷ 34.83M) × 6.07 =
$5
Step 4: Project Future Dividends Paid
Forward dividend per share: $0.2.
Projected over 5 years with a growth rate of
-5.59%, dividends add to total shareholder return.
Expected dividends in 5 years:
$0.8660540442522178.
Step 5: Discount the Projected Stock Price
Projected stock price: $5.
Including dividends, total future value: $5.87.
Discounted at 10% per
year over 5 years → Fair Value:
$3.
