Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
52.29M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
25.47%.
Starting with 52.29M and growing at 25.47%
for 5 years, we estimate Free Cash Flow will be
162.59M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 36.17M.
We will project this out 5 year(s) with a growth rate
of -1.5%.
Estimated Diluted Shares Outstanding: 33.54M.
Step 3: Project Future Stock Price
Using a price ratio of 18.6, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(162.59M ÷ 33.54M) × 18.6 =
$90
Step 4: Project Future Dividends Paid
Forward dividend per share: $1.14.
Projected over 5 years with a growth rate of
0.96%, dividends add to total shareholder return.
Expected dividends in 5 years:
$5.837786534050301.
Step 5: Discount the Projected Stock Price
Projected stock price: $90.
Including dividends, total future value: $95.84.
Discounted at 10% per
year over 5 years → Fair Value:
$59.
