Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
113.81M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
3.77%.
Starting with 113.81M and growing at 3.77%
for 5 years, we estimate Free Cash Flow will be
136.95M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 57.93M.
We will project this out 5 year(s) with a growth rate
of 8.57%.
Estimated Diluted Shares Outstanding: 87.38M.
Step 3: Project Future Stock Price
Using a price ratio of 15.54, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(136.95M ÷ 87.38M) × 15.54 =
$24
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: $24.
Including dividends, total future value: $24.
Discounted at 10% per
year over 5 years → Fair Value:
$14.
