Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
125.07M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
26.09%.
Starting with 125.07M and growing at 26.09%
for 5 years, we estimate Free Cash Flow will be
398.61M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 37.72M.
We will project this out 5 year(s) with a growth rate
of -0.34%.
Estimated Diluted Shares Outstanding: 37.08M.
Step 3: Project Future Stock Price
Using a price ratio of 34.77, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(398.61M ÷ 37.08M) × 34.77 =
$373
Step 4: Project Future Dividends Paid
Forward dividend per share: $0.5.
Projected over 5 years with a growth rate of
n/a, dividends add to total shareholder return.
Expected dividends in 5 years:
$2.5.
Step 5: Discount the Projected Stock Price
Projected stock price: $373.
Including dividends, total future value: $375.5.
Discounted at 10% per
year over 5 years → Fair Value:
$233.
