Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
164M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
14.2%.
Starting with 164M and growing at 14.2%
for 5 years, we estimate Free Cash Flow will be
318.55M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 29.47M.
We will project this out 5 year(s) with a growth rate
of 0.21%.
Estimated Diluted Shares Outstanding: 29.78M.
Step 3: Project Future Stock Price
Using a price ratio of 42.9, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(318.55M ÷ 29.78M) × 42.9 =
$458
Step 4: Project Future Dividends Paid
Forward dividend per share: $1.76.
Projected over 5 years with a growth rate of
9.06%, dividends add to total shareholder return.
Expected dividends in 5 years:
$10.930660498764228.
Step 5: Discount the Projected Stock Price
Projected stock price: $458.
Including dividends, total future value: $468.93.
Discounted at 10% per
year over 5 years → Fair Value:
$291.
