Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
48.34M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
4.55%.
Starting with 48.34M and growing at 4.55%
for 5 years, we estimate Free Cash Flow will be
60.39M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 13.87M.
We will project this out 5 year(s) with a growth rate
of 0.13%.
Estimated Diluted Shares Outstanding: 13.96M.
Step 3: Project Future Stock Price
Using a price ratio of 17.23, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(60.39M ÷ 13.96M) × 17.23 =
$74
Step 4: Project Future Dividends Paid
Forward dividend per share: $2.95.
Projected over 5 years with a growth rate of
-4.30%, dividends add to total shareholder return.
Expected dividends in 5 years:
$13.215142932978948.
Step 5: Discount the Projected Stock Price
Projected stock price: $74.
Including dividends, total future value: $87.22.
Discounted at 10% per
year over 5 years → Fair Value:
$54.
