Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
45.95M
as of Aug 2, 2025.
We will project this out 5 years with a yearly growth
rate of
24.66%.
Starting with 45.95M and growing at 24.66%
for 5 years, we estimate Free Cash Flow will be
138.34M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 13.23M.
We will project this out 5 year(s) with a growth rate
of -1.59%.
Estimated Diluted Shares Outstanding: 12.21M.
Step 3: Project Future Stock Price
Using a price ratio of 13.71, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(138.34M ÷ 12.21M) × 13.71 =
$155
Step 4: Project Future Dividends Paid
Forward dividend per share: $1.06.
Projected over 5 years with a growth rate of
n/a, dividends add to total shareholder return.
Expected dividends in 5 years:
$5.300000000000001.
Step 5: Discount the Projected Stock Price
Projected stock price: $155.
Including dividends, total future value: $160.3.
Discounted at 10% per
year over 5 years → Fair Value:
$99.
