Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
117.45M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
14.06%.
Starting with 117.45M and growing at 14.06%
for 5 years, we estimate Free Cash Flow will be
226.73M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 55.16M.
We will project this out 5 year(s) with a growth rate
of 7.59%.
Estimated Diluted Shares Outstanding: 79.52M.
Step 3: Project Future Stock Price
Using a price ratio of 11.13, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(226.73M ÷ 79.52M) × 11.13 =
$31
Step 4: Project Future Dividends Paid
Forward dividend per share: $1.73.
Projected over 5 years with a growth rate of
n/a, dividends add to total shareholder return.
Expected dividends in 5 years:
$8.65.
Step 5: Discount the Projected Stock Price
Projected stock price: $31.
Including dividends, total future value: $39.65.
Discounted at 10% per
year over 5 years → Fair Value:
$24.
