Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
135.6M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
31.82%.
Starting with 135.6M and growing at 31.82%
for 5 years, we estimate Free Cash Flow will be
539.72M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 182.1M.
We will project this out 5 year(s) with a growth rate
of 1.1%.
Estimated Diluted Shares Outstanding: 192.34M.
Step 3: Project Future Stock Price
Using a price ratio of 20.46, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(539.72M ÷ 192.34M) × 20.46 =
$57
Step 4: Project Future Dividends Paid
Forward dividend per share: $0.89.
Projected over 5 years with a growth rate of
-0.72%, dividends add to total shareholder return.
Expected dividends in 5 years:
$4.370332020483845.
Step 5: Discount the Projected Stock Price
Projected stock price: $57.
Including dividends, total future value: $61.37.
Discounted at 10% per
year over 5 years → Fair Value:
$38.
