Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
142.47M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
16.88%.
Starting with 142.47M and growing at 16.88%
for 5 years, we estimate Free Cash Flow will be
310.76M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 14.86M.
We will project this out 5 year(s) with a growth rate
of 9.26%.
Estimated Diluted Shares Outstanding: 23.13M.
Step 3: Project Future Stock Price
Using a price ratio of 12.1, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(310.76M ÷ 23.13M) × 12.1 =
$162
Step 4: Project Future Dividends Paid
Forward dividend per share: $1.48.
Projected over 5 years with a growth rate of
n/a, dividends add to total shareholder return.
Expected dividends in 5 years:
$7.4.
Step 5: Discount the Projected Stock Price
Projected stock price: $162.
Including dividends, total future value: $169.4.
Discounted at 10% per
year over 5 years → Fair Value:
$105.
