Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
22.92M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
8.55%.
Starting with 22.92M and growing at 8.55%
for 5 years, we estimate Free Cash Flow will be
34.55M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 8.38M.
We will project this out 5 year(s) with a growth rate
of 0.35%.
Estimated Diluted Shares Outstanding: 8.53M.
Step 3: Project Future Stock Price
Using a price ratio of 11.16, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(34.55M ÷ 8.53M) × 11.16 =
$45
Step 4: Project Future Dividends Paid
Forward dividend per share: $0.82.
Projected over 5 years with a growth rate of
16.47%, dividends add to total shareholder return.
Expected dividends in 5 years:
$6.002318621675436.
Step 5: Discount the Projected Stock Price
Projected stock price: $45.
Including dividends, total future value: $51.
Discounted at 10% per
year over 5 years → Fair Value:
$31.
