Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
232.86M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
22.74%.
Starting with 232.86M and growing at 22.74%
for 5 years, we estimate Free Cash Flow will be
648.66M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 36.99M.
We will project this out 5 year(s) with a growth rate
of 7.51%.
Estimated Diluted Shares Outstanding: 53.12M.
Step 3: Project Future Stock Price
Using a price ratio of 3.3, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(648.66M ÷ 53.12M) × 3.3 =
$40
Step 4: Project Future Dividends Paid
Forward dividend per share: $1.56.
Projected over 5 years with a growth rate of
n/a, dividends add to total shareholder return.
Expected dividends in 5 years:
$7.800000000000001.
Step 5: Discount the Projected Stock Price
Projected stock price: $40.
Including dividends, total future value: $47.8.
Discounted at 10% per
year over 5 years → Fair Value:
$29.
