Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
12.08M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
6.48%.
Starting with 12.08M and growing at 6.48%
for 5 years, we estimate Free Cash Flow will be
16.54M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 4.71M.
We will project this out 5 year(s) with a growth rate
of -0.13%.
Estimated Diluted Shares Outstanding: 4.68M.
Step 3: Project Future Stock Price
Using a price ratio of 10.26, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(16.54M ÷ 4.68M) × 10.26 =
$36
Step 4: Project Future Dividends Paid
Forward dividend per share: $1.12.
Projected over 5 years with a growth rate of
-4.14%, dividends add to total shareholder return.
Expected dividends in 5 years:
$5.038271752863274.
Step 5: Discount the Projected Stock Price
Projected stock price: $36.
Including dividends, total future value: $41.04.
Discounted at 10% per
year over 5 years → Fair Value:
$25.
