Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
20.03M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
7.62%.
Starting with 20.03M and growing at 7.62%
for 5 years, we estimate Free Cash Flow will be
28.92M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 8.08M.
We will project this out 5 year(s) with a growth rate
of 4.45%.
Estimated Diluted Shares Outstanding: 10.05M.
Step 3: Project Future Stock Price
Using a price ratio of 10.87, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(28.92M ÷ 10.05M) × 10.87 =
$31
Step 4: Project Future Dividends Paid
Forward dividend per share: $1.03.
Projected over 5 years with a growth rate of
0.98%, dividends add to total shareholder return.
Expected dividends in 5 years:
$5.277103899130764.
Step 5: Discount the Projected Stock Price
Projected stock price: $31.
Including dividends, total future value: $36.28.
Discounted at 10% per
year over 5 years → Fair Value:
$22.
