Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
126.16M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
19.35%.
Starting with 126.16M and growing at 19.35%
for 5 years, we estimate Free Cash Flow will be
305.51M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 147.11M.
We will project this out 5 year(s) with a growth rate
of -0.34%.
Estimated Diluted Shares Outstanding: 144.62M.
Step 3: Project Future Stock Price
Using a price ratio of 21.54, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(305.51M ÷ 144.62M) × 21.54 =
$45
Step 4: Project Future Dividends Paid
Forward dividend per share: $0.12.
Projected over 5 years with a growth rate of
-5.59%, dividends add to total shareholder return.
Expected dividends in 5 years:
$0.5196324265513307.
Step 5: Discount the Projected Stock Price
Projected stock price: $45.
Including dividends, total future value: $45.52.
Discounted at 10% per
year over 5 years → Fair Value:
$28.
