Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
145.47M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
26.54%.
Starting with 145.47M and growing at 26.54%
for 5 years, we estimate Free Cash Flow will be
471.96M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 24.64M.
We will project this out 5 year(s) with a growth rate
of 11.53%.
Estimated Diluted Shares Outstanding: 42.52M.
Step 3: Project Future Stock Price
Using a price ratio of 0.83, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(471.96M ÷ 42.52M) × 0.83 =
$9
Step 4: Project Future Dividends Paid
Forward dividend per share: $1.
Projected over 5 years with a growth rate of
-16.74%, dividends add to total shareholder return.
Expected dividends in 5 years:
$3.1627220084210212.
Step 5: Discount the Projected Stock Price
Projected stock price: $9.
Including dividends, total future value: $12.16.
Discounted at 10% per
year over 5 years → Fair Value:
$7.
