Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
276.07M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
10.85%.
Starting with 276.07M and growing at 10.85%
for 5 years, we estimate Free Cash Flow will be
462.06M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 9.8M.
We will project this out 5 year(s) with a growth rate
of -3.04%.
Estimated Diluted Shares Outstanding: 8.4M.
Step 3: Project Future Stock Price
Using a price ratio of 1.66, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(462.06M ÷ 8.4M) × 1.66 =
$91
Step 4: Project Future Dividends Paid
Forward dividend per share: $1.5.
Projected over 5 years with a growth rate of
35.10%, dividends add to total shareholder return.
Expected dividends in 5 years:
$15.911079142492536.
Step 5: Discount the Projected Stock Price
Projected stock price: $91.
Including dividends, total future value: $106.91.
Discounted at 10% per
year over 5 years → Fair Value:
$66.
