Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
96.41M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
22.13%.
Starting with 96.41M and growing at 22.13%
for 5 years, we estimate Free Cash Flow will be
261.96M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 55.97M.
We will project this out 5 year(s) with a growth rate
of 2.99%.
Estimated Diluted Shares Outstanding: 64.85M.
Step 3: Project Future Stock Price
Using a price ratio of 42.22, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(261.96M ÷ 64.85M) × 42.22 =
$170
Step 4: Project Future Dividends Paid
Forward dividend per share: $0.79.
Projected over 5 years with a growth rate of
0.41%, dividends add to total shareholder return.
Expected dividends in 5 years:
$3.990612084093313.
Step 5: Discount the Projected Stock Price
Projected stock price: $170.
Including dividends, total future value: $173.99.
Discounted at 10% per
year over 5 years → Fair Value:
$108.
