Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
20.95M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
20.62%.
Starting with 20.95M and growing at 20.62%
for 5 years, we estimate Free Cash Flow will be
53.48M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 15.93M.
We will project this out 5 year(s) with a growth rate
of 1.03%.
Estimated Diluted Shares Outstanding: 16.76M.
Step 3: Project Future Stock Price
Using a price ratio of 35.87, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(53.48M ÷ 16.76M) × 35.87 =
$114
Step 4: Project Future Dividends Paid
Forward dividend per share: $0.61.
Projected over 5 years with a growth rate of
8.02%, dividends add to total shareholder return.
Expected dividends in 5 years:
$3.69879508370481.
Step 5: Discount the Projected Stock Price
Projected stock price: $114.
Including dividends, total future value: $117.7.
Discounted at 10% per
year over 5 years → Fair Value:
$73.
