Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
132.67M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
-4.39%.
Starting with 132.67M and growing at -4.39%
for 5 years, we estimate Free Cash Flow will be
106M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 72.65M.
We will project this out 5 year(s) with a growth rate
of -2.96%.
Estimated Diluted Shares Outstanding: 62.52M.
Step 3: Project Future Stock Price
Using a price ratio of 21.31, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(106M ÷ 62.52M) × 21.31 =
$36
Step 4: Project Future Dividends Paid
Forward dividend per share: $1.05.
Projected over 5 years with a growth rate of
33.24%, dividends add to total shareholder return.
Expected dividends in 5 years:
$10.75835481648132.
Step 5: Discount the Projected Stock Price
Projected stock price: $36.
Including dividends, total future value: $46.76.
Discounted at 10% per
year over 5 years → Fair Value:
$29.
