Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
125.7M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
29.89%.
Starting with 125.7M and growing at 29.89%
for 5 years, we estimate Free Cash Flow will be
464.73M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 157.23M.
We will project this out 5 year(s) with a growth rate
of 4.19%.
Estimated Diluted Shares Outstanding: 193.05M.
Step 3: Project Future Stock Price
Using a price ratio of 17.8, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(464.73M ÷ 193.05M) × 17.8 =
$42
Step 4: Project Future Dividends Paid
Forward dividend per share: $0.2.
Projected over 5 years with a growth rate of
n/a, dividends add to total shareholder return.
Expected dividends in 5 years:
$1.
Step 5: Discount the Projected Stock Price
Projected stock price: $42.
Including dividends, total future value: $43.
Discounted at 10% per
year over 5 years → Fair Value:
$26.
