Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
44.07M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
-0.08%.
Starting with 44.07M and growing at -0.08%
for 5 years, we estimate Free Cash Flow will be
43.89M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 9.99M.
We will project this out 5 year(s) with a growth rate
of 3.03%.
Estimated Diluted Shares Outstanding: 11.6M.
Step 3: Project Future Stock Price
Using a price ratio of 11.62, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(43.89M ÷ 11.6M) × 11.62 =
$43
Step 4: Project Future Dividends Paid
Forward dividend per share: $3.09.
Projected over 5 years with a growth rate of
5.17%, dividends add to total shareholder return.
Expected dividends in 5 years:
$17.525005726868017.
Step 5: Discount the Projected Stock Price
Projected stock price: $43.
Including dividends, total future value: $60.53.
Discounted at 10% per
year over 5 years → Fair Value:
$37.
