Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
120.44M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
-2.09%.
Starting with 120.44M and growing at -2.09%
for 5 years, we estimate Free Cash Flow will be
108.37M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 95.02M.
We will project this out 5 year(s) with a growth rate
of 0.52%.
Estimated Diluted Shares Outstanding: 97.52M.
Step 3: Project Future Stock Price
Using a price ratio of 15.76, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(108.37M ÷ 97.52M) × 15.76 =
$17
Step 4: Project Future Dividends Paid
Forward dividend per share: $1.1.
Projected over 5 years with a growth rate of
-5.59%, dividends add to total shareholder return.
Expected dividends in 5 years:
$4.763297243387198.
Step 5: Discount the Projected Stock Price
Projected stock price: $17.
Including dividends, total future value: $21.76.
Discounted at 10% per
year over 5 years → Fair Value:
$13.
