Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
42.66M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
13.7%.
Starting with 42.66M and growing at 13.7%
for 5 years, we estimate Free Cash Flow will be
81.05M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 77.61M.
We will project this out 5 year(s) with a growth rate
of -0.53%.
Estimated Diluted Shares Outstanding: 75.57M.
Step 3: Project Future Stock Price
Using a price ratio of 21.85, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(81.05M ÷ 75.57M) × 21.85 =
$23
Step 4: Project Future Dividends Paid
Forward dividend per share: $1.17.
Projected over 5 years with a growth rate of
30.31%, dividends add to total shareholder return.
Expected dividends in 5 years:
$11.339665087865761.
Step 5: Discount the Projected Stock Price
Projected stock price: $23.
Including dividends, total future value: $34.34.
Discounted at 10% per
year over 5 years → Fair Value:
$21.
