Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
20.71M
as of Jun 25, 2025.
We will project this out 5 years with a yearly growth
rate of
6%.
Starting with 20.71M and growing at 6%
for 5 years, we estimate Free Cash Flow will be
27.72M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 30M.
We will project this out 5 year(s) with a growth rate
of -4.31%.
Estimated Diluted Shares Outstanding: 24.07M.
Step 3: Project Future Stock Price
Using a price ratio of 15.42, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(27.72M ÷ 24.07M) × 15.42 =
$17
Step 4: Project Future Dividends Paid
Forward dividend per share: $0.
Projected over 5 years with a growth rate of
n/a, dividends add to total shareholder return.
Expected dividends in 5 years:
$0.
Step 5: Discount the Projected Stock Price
Projected stock price: $17.
Including dividends, total future value: $17.
Discounted at 10% per
year over 5 years → Fair Value:
$10.
