Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
263.87M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
8.8%.
Starting with 263.87M and growing at 8.8%
for 5 years, we estimate Free Cash Flow will be
402.29M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 66.78M.
We will project this out 5 year(s) with a growth rate
of -2.14%.
Estimated Diluted Shares Outstanding: 59.94M.
Step 3: Project Future Stock Price
Using a price ratio of 8.22, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(402.29M ÷ 59.94M) × 8.22 =
$55
Step 4: Project Future Dividends Paid
Forward dividend per share: $2.3.
Projected over 5 years with a growth rate of
44.52%, dividends add to total shareholder return.
Expected dividends in 5 years:
$28.8747160809018.
Step 5: Discount the Projected Stock Price
Projected stock price: $55.
Including dividends, total future value: $83.87.
Discounted at 10% per
year over 5 years → Fair Value:
$52.
