Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
18.77M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
25.23%.
Starting with 18.77M and growing at 25.23%
for 5 years, we estimate Free Cash Flow will be
57.8M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 14.16M.
We will project this out 5 year(s) with a growth rate
of 13.83%.
Estimated Diluted Shares Outstanding: 27.06M.
Step 3: Project Future Stock Price
Using a price ratio of 13.32, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(57.8M ÷ 27.06M) × 13.32 =
$28
Step 4: Project Future Dividends Paid
Forward dividend per share: $1.42.
Projected over 5 years with a growth rate of
0.84%, dividends add to total shareholder return.
Expected dividends in 5 years:
$7.250040643684652.
Step 5: Discount the Projected Stock Price
Projected stock price: $28.
Including dividends, total future value: $35.25.
Discounted at 10% per
year over 5 years → Fair Value:
$21.
