Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
60.87M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
4.7%.
Starting with 60.87M and growing at 4.7%
for 5 years, we estimate Free Cash Flow will be
76.59M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 15.2M.
We will project this out 5 year(s) with a growth rate
of 3.38%.
Estimated Diluted Shares Outstanding: 17.95M.
Step 3: Project Future Stock Price
Using a price ratio of 20.45, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(76.59M ÷ 17.95M) × 20.45 =
$87
Step 4: Project Future Dividends Paid
Forward dividend per share: $2.23.
Projected over 5 years with a growth rate of
33.36%, dividends add to total shareholder return.
Expected dividends in 5 years:
$22.900176753921127.
Step 5: Discount the Projected Stock Price
Projected stock price: $87.
Including dividends, total future value: $109.9.
Discounted at 10% per
year over 5 years → Fair Value:
$68.
