Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
23.52M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
37.41%.
Starting with 23.52M and growing at 37.41%
for 5 years, we estimate Free Cash Flow will be
115.21M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 7.88M.
We will project this out 5 year(s) with a growth rate
of -0.12%.
Estimated Diluted Shares Outstanding: 7.83M.
Step 3: Project Future Stock Price
Using a price ratio of 11.22, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(115.21M ÷ 7.83M) × 11.22 =
$165
Step 4: Project Future Dividends Paid
Forward dividend per share: $1.
Projected over 5 years with a growth rate of
1.39%, dividends add to total shareholder return.
Expected dividends in 5 years:
$5.175565532768881.
Step 5: Discount the Projected Stock Price
Projected stock price: $165.
Including dividends, total future value: $170.18.
Discounted at 10% per
year over 5 years → Fair Value:
$105.
