Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
33.27M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
14.87%.
Starting with 33.27M and growing at 14.87%
for 5 years, we estimate Free Cash Flow will be
66.53M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 25.54M.
We will project this out 5 year(s) with a growth rate
of 0.68%.
Estimated Diluted Shares Outstanding: 26.42M.
Step 3: Project Future Stock Price
Using a price ratio of 9.28, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(66.53M ÷ 26.42M) × 9.28 =
$23
Step 4: Project Future Dividends Paid
Forward dividend per share: $1.14.
Projected over 5 years with a growth rate of
12.16%, dividends add to total shareholder return.
Expected dividends in 5 years:
$7.593987137873609.
Step 5: Discount the Projected Stock Price
Projected stock price: $23.
Including dividends, total future value: $30.59.
Discounted at 10% per
year over 5 years → Fair Value:
$18.
