Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
58.62M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
7.95%.
Starting with 58.62M and growing at 7.95%
for 5 years, we estimate Free Cash Flow will be
85.93M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 19.89M.
We will project this out 5 year(s) with a growth rate
of -1.11%.
Estimated Diluted Shares Outstanding: 18.81M.
Step 3: Project Future Stock Price
Using a price ratio of 12.8, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(85.93M ÷ 18.81M) × 12.8 =
$58
Step 4: Project Future Dividends Paid
Forward dividend per share: $2.28.
Projected over 5 years with a growth rate of
44.27%, dividends add to total shareholder return.
Expected dividends in 5 years:
$28.50000464692022.
Step 5: Discount the Projected Stock Price
Projected stock price: $58.
Including dividends, total future value: $86.5.
Discounted at 10% per
year over 5 years → Fair Value:
$53.
