Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
110.16M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
46.87%.
Starting with 110.16M and growing at 46.87%
for 5 years, we estimate Free Cash Flow will be
752.78M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 45.86M.
We will project this out 5 year(s) with a growth rate
of 2.91%.
Estimated Diluted Shares Outstanding: 52.94M.
Step 3: Project Future Stock Price
Using a price ratio of 8.47, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(752.78M ÷ 52.94M) × 8.47 =
$120
Step 4: Project Future Dividends Paid
Forward dividend per share: $0.48.
Projected over 5 years with a growth rate of
20.11%, dividends add to total shareholder return.
Expected dividends in 5 years:
$3.794540208396411.
Step 5: Discount the Projected Stock Price
Projected stock price: $120.
Including dividends, total future value: $123.79.
Discounted at 10% per
year over 5 years → Fair Value:
$76.
