Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
11.14M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
21.81%.
Starting with 11.14M and growing at 21.81%
for 5 years, we estimate Free Cash Flow will be
29.86M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 13.07M.
We will project this out 5 year(s) with a growth rate
of 12.87%.
Estimated Diluted Shares Outstanding: 23.94M.
Step 3: Project Future Stock Price
Using a price ratio of 37.63, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(29.86M ÷ 23.94M) × 37.63 =
$46
Step 4: Project Future Dividends Paid
Forward dividend per share: $1.25.
Projected over 5 years with a growth rate of
n/a, dividends add to total shareholder return.
Expected dividends in 5 years:
$6.25.
Step 5: Discount the Projected Stock Price
Projected stock price: $46.
Including dividends, total future value: $52.25.
Discounted at 10% per
year over 5 years → Fair Value:
$32.
