Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
19.8M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
7.33%.
Starting with 19.8M and growing at 7.33%
for 5 years, we estimate Free Cash Flow will be
28.21M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 14.94M.
We will project this out 5 year(s) with a growth rate
of 7.6%.
Estimated Diluted Shares Outstanding: 21.55M.
Step 3: Project Future Stock Price
Using a price ratio of 27.95, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(28.21M ÷ 21.55M) × 27.95 =
$36
Step 4: Project Future Dividends Paid
Forward dividend per share: $1.68.
Projected over 5 years with a growth rate of
9.24%, dividends add to total shareholder return.
Expected dividends in 5 years:
$10.476917274164805.
Step 5: Discount the Projected Stock Price
Projected stock price: $36.
Including dividends, total future value: $46.48.
Discounted at 10% per
year over 5 years → Fair Value:
$28.
