Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
60.5M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
7.11%.
Starting with 60.5M and growing at 7.11%
for 5 years, we estimate Free Cash Flow will be
85.29M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 18.6M.
We will project this out 5 year(s) with a growth rate
of -4.17%.
Estimated Diluted Shares Outstanding: 15.03M.
Step 3: Project Future Stock Price
Using a price ratio of 14.72, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(85.29M ÷ 15.03M) × 14.72 =
$83
Step 4: Project Future Dividends Paid
Forward dividend per share: $1.93.
Projected over 5 years with a growth rate of
7.90%, dividends add to total shareholder return.
Expected dividends in 5 years:
$11.670270569080612.
Step 5: Discount the Projected Stock Price
Projected stock price: $83.
Including dividends, total future value: $94.67.
Discounted at 10% per
year over 5 years → Fair Value:
$58.
