Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
85.74M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
9.5%.
Starting with 85.74M and growing at 9.5%
for 5 years, we estimate Free Cash Flow will be
134.97M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 19.22M.
We will project this out 5 year(s) with a growth rate
of -0.22%.
Estimated Diluted Shares Outstanding: 19.01M.
Step 3: Project Future Stock Price
Using a price ratio of 7.95, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(134.97M ÷ 19.01M) × 7.95 =
$56
Step 4: Project Future Dividends Paid
Forward dividend per share: $0.78.
Projected over 5 years with a growth rate of
n/a, dividends add to total shareholder return.
Expected dividends in 5 years:
$3.9000000000000004.
Step 5: Discount the Projected Stock Price
Projected stock price: $56.
Including dividends, total future value: $59.9.
Discounted at 10% per
year over 5 years → Fair Value:
$37.
