Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
48.07M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
9.62%.
Starting with 48.07M and growing at 9.62%
for 5 years, we estimate Free Cash Flow will be
76.09M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 58.46M.
We will project this out 5 year(s) with a growth rate
of 0.98%.
Estimated Diluted Shares Outstanding: 61.38M.
Step 3: Project Future Stock Price
Using a price ratio of 53.54, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(76.09M ÷ 61.38M) × 53.54 =
$66
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: $66.
Including dividends, total future value: $66.
Discounted at 10% per
year over 5 years → Fair Value:
$40.
