Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
43.45M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
22.35%.
Starting with 43.45M and growing at 22.35%
for 5 years, we estimate Free Cash Flow will be
119.12M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 8.54M.
We will project this out 5 year(s) with a growth rate
of 1.74%.
Estimated Diluted Shares Outstanding: 9.31M.
Step 3: Project Future Stock Price
Using a price ratio of 11.67, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(119.12M ÷ 9.31M) × 11.67 =
$149
Step 4: Project Future Dividends Paid
Forward dividend per share: $0.82.
Projected over 5 years with a growth rate of
n/a, dividends add to total shareholder return.
Expected dividends in 5 years:
$4.1.
Step 5: Discount the Projected Stock Price
Projected stock price: $149.
Including dividends, total future value: $153.1.
Discounted at 10% per
year over 5 years → Fair Value:
$95.
