Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
17M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
21.88%.
Starting with 17M and growing at 21.88%
for 5 years, we estimate Free Cash Flow will be
45.71M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 14.1M.
We will project this out 5 year(s) with a growth rate
of 3.73%.
Estimated Diluted Shares Outstanding: 16.93M.
Step 3: Project Future Stock Price
Using a price ratio of 19.61, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(45.71M ÷ 16.93M) × 19.61 =
$52
Step 4: Project Future Dividends Paid
Forward dividend per share: $0.3.
Projected over 5 years with a growth rate of
12.47%, dividends add to total shareholder return.
Expected dividends in 5 years:
$2.0122549153010185.
Step 5: Discount the Projected Stock Price
Projected stock price: $52.
Including dividends, total future value: $54.01.
Discounted at 10% per
year over 5 years → Fair Value:
$33.
