Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
16.26M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
40.96%.
Starting with 16.26M and growing at 40.96%
for 5 years, we estimate Free Cash Flow will be
90.49M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 15.02M.
We will project this out 5 year(s) with a growth rate
of 12.61%.
Estimated Diluted Shares Outstanding: 27.19M.
Step 3: Project Future Stock Price
Using a price ratio of 8.01, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(90.49M ÷ 27.19M) × 8.01 =
$26
Step 4: Project Future Dividends Paid
Forward dividend per share: $1.12.
Projected over 5 years with a growth rate of
0.48%, dividends add to total shareholder return.
Expected dividends in 5 years:
$5.667442113420044.
Step 5: Discount the Projected Stock Price
Projected stock price: $26.
Including dividends, total future value: $31.67.
Discounted at 10% per
year over 5 years → Fair Value:
$19.
