Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
33.72M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
18.23%.
Starting with 33.72M and growing at 18.23%
for 5 years, we estimate Free Cash Flow will be
77.9M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 5.28M.
We will project this out 5 year(s) with a growth rate
of -6.52%.
Estimated Diluted Shares Outstanding: 3.77M.
Step 3: Project Future Stock Price
Using a price ratio of 8.31, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(77.9M ÷ 3.77M) × 8.31 =
$171
Step 4: Project Future Dividends Paid
Forward dividend per share: $0.91.
Projected over 5 years with a growth rate of
6.30%, dividends add to total shareholder return.
Expected dividends in 5 years:
$5.300838318555664.
Step 5: Discount the Projected Stock Price
Projected stock price: $171.
Including dividends, total future value: $176.3.
Discounted at 10% per
year over 5 years → Fair Value:
$109.
