Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
40.6M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
20.2%.
Starting with 40.6M and growing at 20.2%
for 5 years, we estimate Free Cash Flow will be
101.88M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 20.08M.
We will project this out 5 year(s) with a growth rate
of 14.54%.
Estimated Diluted Shares Outstanding: 39.58M.
Step 3: Project Future Stock Price
Using a price ratio of 9.76, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(101.88M ÷ 39.58M) × 9.76 =
$25
Step 4: Project Future Dividends Paid
Forward dividend per share: $0.4.
Projected over 5 years with a growth rate of
n/a, dividends add to total shareholder return.
Expected dividends in 5 years:
$2.
Step 5: Discount the Projected Stock Price
Projected stock price: $25.
Including dividends, total future value: $27.
Discounted at 10% per
year over 5 years → Fair Value:
$16.
