Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
136.4M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
-6.49%.
Starting with 136.4M and growing at -6.49%
for 5 years, we estimate Free Cash Flow will be
97.52M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 32.2M.
We will project this out 5 year(s) with a growth rate
of -2.91%.
Estimated Diluted Shares Outstanding: 27.78M.
Step 3: Project Future Stock Price
Using a price ratio of 3.75, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(97.52M ÷ 27.78M) × 3.75 =
$13
Step 4: Project Future Dividends Paid
Forward dividend per share: $0.94.
Projected over 5 years with a growth rate of
n/a, dividends add to total shareholder return.
Expected dividends in 5 years:
$4.699999999999999.
Step 5: Discount the Projected Stock Price
Projected stock price: $13.
Including dividends, total future value: $17.7.
Discounted at 10% per
year over 5 years → Fair Value:
$10.
