Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
38.23M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
62.56%.
Starting with 38.23M and growing at 62.56%
for 5 years, we estimate Free Cash Flow will be
434.03M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 31.37M.
We will project this out 5 year(s) with a growth rate
of 34.3%.
Estimated Diluted Shares Outstanding: 137.04M.
Step 3: Project Future Stock Price
Using a price ratio of 15.43, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(434.03M ÷ 137.04M) × 15.43 =
$48
Step 4: Project Future Dividends Paid
Forward dividend per share: $1.21.
Projected over 5 years with a growth rate of
-1.63%, dividends add to total shareholder return.
Expected dividends in 5 years:
$5.806468216354136.
Step 5: Discount the Projected Stock Price
Projected stock price: $48.
Including dividends, total future value: $53.81.
Discounted at 10% per
year over 5 years → Fair Value:
$33.
