Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
37M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
10.86%.
Starting with 37M and growing at 10.86%
for 5 years, we estimate Free Cash Flow will be
61.96M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 15.7M.
We will project this out 5 year(s) with a growth rate
of -3.02%.
Estimated Diluted Shares Outstanding: 13.47M.
Step 3: Project Future Stock Price
Using a price ratio of 25.73, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(61.96M ÷ 13.47M) × 25.73 =
$118
Step 4: Project Future Dividends Paid
Forward dividend per share: $0.56.
Projected over 5 years with a growth rate of
0.76%, dividends add to total shareholder return.
Expected dividends in 5 years:
$2.8535036237399307.
Step 5: Discount the Projected Stock Price
Projected stock price: $118.
Including dividends, total future value: $120.85.
Discounted at 10% per
year over 5 years → Fair Value:
$75.
