Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
105.46M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
5.16%.
Starting with 105.46M and growing at 5.16%
for 5 years, we estimate Free Cash Flow will be
135.63M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 54.74M.
We will project this out 5 year(s) with a growth rate
of 0.36%.
Estimated Diluted Shares Outstanding: 55.74M.
Step 3: Project Future Stock Price
Using a price ratio of 10.02, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(135.63M ÷ 55.74M) × 10.02 =
$24
Step 4: Project Future Dividends Paid
Forward dividend per share: $1.06.
Projected over 5 years with a growth rate of
4.81%, dividends add to total shareholder return.
Expected dividends in 5 years:
$5.960499722044866.
Step 5: Discount the Projected Stock Price
Projected stock price: $24.
Including dividends, total future value: $29.96.
Discounted at 10% per
year over 5 years → Fair Value:
$18.
