Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
490.33M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
-13.71%.
Starting with 490.33M and growing at -13.71%
for 5 years, we estimate Free Cash Flow will be
234.58M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 98.84M.
We will project this out 5 year(s) with a growth rate
of -0.41%.
Estimated Diluted Shares Outstanding: 96.83M.
Step 3: Project Future Stock Price
Using a price ratio of 24.77, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(234.58M ÷ 96.83M) × 24.77 =
$60
Step 4: Project Future Dividends Paid
Forward dividend per share: $0.
Projected over 5 years with a growth rate of
n/a, dividends add to total shareholder return.
Expected dividends in 5 years:
$0.
Step 5: Discount the Projected Stock Price
Projected stock price: $60.
Including dividends, total future value: $60.
Discounted at 10% per
year over 5 years → Fair Value:
$37.
