Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
101.58M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
-3.73%.
Starting with 101.58M and growing at -3.73%
for 5 years, we estimate Free Cash Flow will be
83.99M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 77.29M.
We will project this out 5 year(s) with a growth rate
of 3.21%.
Estimated Diluted Shares Outstanding: 90.51M.
Step 3: Project Future Stock Price
Using a price ratio of 11.75, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(83.99M ÷ 90.51M) × 11.75 =
$10
Step 4: Project Future Dividends Paid
Forward dividend per share: $1.8.
Projected over 5 years with a growth rate of
-3.46%, dividends add to total shareholder return.
Expected dividends in 5 years:
$8.241585067204154.
Step 5: Discount the Projected Stock Price
Projected stock price: $10.
Including dividends, total future value: $18.24.
Discounted at 10% per
year over 5 years → Fair Value:
$11.
