Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
98.34M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
13.57%.
Starting with 98.34M and growing at 13.57%
for 5 years, we estimate Free Cash Flow will be
185.8M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 51.31M.
We will project this out 5 year(s) with a growth rate
of 22.93%.
Estimated Diluted Shares Outstanding: 144.05M.
Step 3: Project Future Stock Price
Using a price ratio of 54.56, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(185.8M ÷ 144.05M) × 54.56 =
$70
Step 4: Project Future Dividends Paid
Forward dividend per share: $0.
Projected over 5 years with a growth rate of
n/a, dividends add to total shareholder return.
Expected dividends in 5 years:
$0.
Step 5: Discount the Projected Stock Price
Projected stock price: $70.
Including dividends, total future value: $70.
Discounted at 10% per
year over 5 years → Fair Value:
$43.
