Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
49.15M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
29.37%.
Starting with 49.15M and growing at 29.37%
for 5 years, we estimate Free Cash Flow will be
178.09M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 33.42M.
We will project this out 5 year(s) with a growth rate
of 21.23%.
Estimated Diluted Shares Outstanding: 87.5M.
Step 3: Project Future Stock Price
Using a price ratio of 13.6, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(178.09M ÷ 87.5M) × 13.6 =
$27
Step 4: Project Future Dividends Paid
Forward dividend per share: $0.6.
Projected over 5 years with a growth rate of
-5.59%, dividends add to total shareholder return.
Expected dividends in 5 years:
$2.598162132756653.
Step 5: Discount the Projected Stock Price
Projected stock price: $27.
Including dividends, total future value: $29.6.
Discounted at 10% per
year over 5 years → Fair Value:
$18.
