Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
287.1M
as of Jul 4, 2025.
We will project this out 5 years with a yearly growth
rate of
-0.72%.
Starting with 287.1M and growing at -0.72%
for 5 years, we estimate Free Cash Flow will be
276.91M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 237.97M.
We will project this out 5 year(s) with a growth rate
of -0.45%.
Estimated Diluted Shares Outstanding: 232.66M.
Step 3: Project Future Stock Price
Using a price ratio of 31.61, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(276.91M ÷ 232.66M) × 31.61 =
$37
Step 4: Project Future Dividends Paid
Forward dividend per share: $0.
Projected over 5 years with a growth rate of
n/a, dividends add to total shareholder return.
Expected dividends in 5 years:
$0.
Step 5: Discount the Projected Stock Price
Projected stock price: $37.
Including dividends, total future value: $37.
Discounted at 10% per
year over 5 years → Fair Value:
$22.
