Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
33.44M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
43.23%.
Starting with 33.44M and growing at 43.23%
for 5 years, we estimate Free Cash Flow will be
201.57M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 40.66M.
We will project this out 5 year(s) with a growth rate
of 3.24%.
Estimated Diluted Shares Outstanding: 47.69M.
Step 3: Project Future Stock Price
Using a price ratio of 28.13, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(201.57M ÷ 47.69M) × 28.13 =
$118
Step 4: Project Future Dividends Paid
Forward dividend per share: $0.46.
Projected over 5 years with a growth rate of
n/a, dividends add to total shareholder return.
Expected dividends in 5 years:
$2.3000000000000003.
Step 5: Discount the Projected Stock Price
Projected stock price: $118.
Including dividends, total future value: $120.3.
Discounted at 10% per
year over 5 years → Fair Value:
$74.
