Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
56.59M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
30.68%.
Starting with 56.59M and growing at 30.68%
for 5 years, we estimate Free Cash Flow will be
215.68M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 9.83M.
We will project this out 5 year(s) with a growth rate
of 7.81%.
Estimated Diluted Shares Outstanding: 14.32M.
Step 3: Project Future Stock Price
Using a price ratio of 20, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(215.68M ÷ 14.32M) × 20 =
$301
Step 4: Project Future Dividends Paid
Forward dividend per share: $5.7.
Projected over 5 years with a growth rate of
43.04%, dividends add to total shareholder return.
Expected dividends in 5 years:
$69.74107118811705.
Step 5: Discount the Projected Stock Price
Projected stock price: $301.
Including dividends, total future value: $370.74.
Discounted at 10% per
year over 5 years → Fair Value:
$230.
