Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
36.02M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
10.62%.
Starting with 36.02M and growing at 10.62%
for 5 years, we estimate Free Cash Flow will be
59.67M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 28.91M.
We will project this out 5 year(s) with a growth rate
of 1.86%.
Estimated Diluted Shares Outstanding: 31.7M.
Step 3: Project Future Stock Price
Using a price ratio of 66.92, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(59.67M ÷ 31.7M) × 66.92 =
$125
Step 4: Project Future Dividends Paid
Forward dividend per share: $2.3.
Projected over 5 years with a growth rate of
-21.71%, dividends add to total shareholder return.
Expected dividends in 5 years:
$6.236825211488132.
Step 5: Discount the Projected Stock Price
Projected stock price: $125.
Including dividends, total future value: $131.24.
Discounted at 10% per
year over 5 years → Fair Value:
$81.
