Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
143.23M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
5.25%.
Starting with 143.23M and growing at 5.25%
for 5 years, we estimate Free Cash Flow will be
184.99M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 47.53M.
We will project this out 5 year(s) with a growth rate
of 0.28%.
Estimated Diluted Shares Outstanding: 48.2M.
Step 3: Project Future Stock Price
Using a price ratio of 9.39, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(184.99M ÷ 48.2M) × 9.39 =
$36
Step 4: Project Future Dividends Paid
Forward dividend per share: $2.15.
Projected over 5 years with a growth rate of
17.61%, dividends add to total shareholder return.
Expected dividends in 5 years:
$16.125719055242676.
Step 5: Discount the Projected Stock Price
Projected stock price: $36.
Including dividends, total future value: $52.13.
Discounted at 10% per
year over 5 years → Fair Value:
$32.
