Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
102.75M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
0%.
Starting with 102.75M and growing at 0%
for 5 years, we estimate Free Cash Flow will be
102.75M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 76.58M.
We will project this out 5 year(s) with a growth rate
of 3.24%.
Estimated Diluted Shares Outstanding: 89.82M.
Step 3: Project Future Stock Price
Using a price ratio of 27.82, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(102.75M ÷ 89.82M) × 27.82 =
$31
Step 4: Project Future Dividends Paid
Forward dividend per share: $1.6.
Projected over 5 years with a growth rate of
16.22%, dividends add to total shareholder return.
Expected dividends in 5 years:
$11.64909440282272.
Step 5: Discount the Projected Stock Price
Projected stock price: $31.
Including dividends, total future value: $42.65.
Discounted at 10% per
year over 5 years → Fair Value:
$26.
