Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
25.38M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
16.2%.
Starting with 25.38M and growing at 16.2%
for 5 years, we estimate Free Cash Flow will be
53.76M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 6.95M.
We will project this out 5 year(s) with a growth rate
of 2.68%.
Estimated Diluted Shares Outstanding: 7.93M.
Step 3: Project Future Stock Price
Using a price ratio of 4.11, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(53.76M ÷ 7.93M) × 4.11 =
$27
Step 4: Project Future Dividends Paid
Forward dividend per share: $1.44.
Projected over 5 years with a growth rate of
20.11%, dividends add to total shareholder return.
Expected dividends in 5 years:
$11.38362062518923.
Step 5: Discount the Projected Stock Price
Projected stock price: $27.
Including dividends, total future value: $38.38.
Discounted at 10% per
year over 5 years → Fair Value:
$23.
