Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
57.12M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
4.5%.
Starting with 57.12M and growing at 4.5%
for 5 years, we estimate Free Cash Flow will be
71.18M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 37.41M.
We will project this out 5 year(s) with a growth rate
of 0.96%.
Estimated Diluted Shares Outstanding: 39.24M.
Step 3: Project Future Stock Price
Using a price ratio of 18.64, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(71.18M ÷ 39.24M) × 18.64 =
$33
Step 4: Project Future Dividends Paid
Forward dividend per share: $0.68.
Projected over 5 years with a growth rate of
-5.59%, dividends add to total shareholder return.
Expected dividends in 5 years:
$2.9445837504575407.
Step 5: Discount the Projected Stock Price
Projected stock price: $33.
Including dividends, total future value: $35.94.
Discounted at 10% per
year over 5 years → Fair Value:
$22.
