Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
35.94M
as of Aug 2, 2025.
We will project this out 5 years with a yearly growth
rate of
28.61%.
Starting with 35.94M and growing at 28.61%
for 5 years, we estimate Free Cash Flow will be
126.44M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 15.23M.
We will project this out 5 year(s) with a growth rate
of 11.59%.
Estimated Diluted Shares Outstanding: 26.35M.
Step 3: Project Future Stock Price
Using a price ratio of 4.62, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(126.44M ÷ 26.35M) × 4.62 =
$22
Step 4: Project Future Dividends Paid
Forward dividend per share: $0.38.
Projected over 5 years with a growth rate of
n/a, dividends add to total shareholder return.
Expected dividends in 5 years:
$1.9.
Step 5: Discount the Projected Stock Price
Projected stock price: $22.
Including dividends, total future value: $23.9.
Discounted at 10% per
year over 5 years → Fair Value:
$14.
