Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
185.24M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
26.35%.
Starting with 185.24M and growing at 26.35%
for 5 years, we estimate Free Cash Flow will be
596.49M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 12.11M.
We will project this out 5 year(s) with a growth rate
of 0.4%.
Estimated Diluted Shares Outstanding: 12.36M.
Step 3: Project Future Stock Price
Using a price ratio of 6.63, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(596.49M ÷ 12.36M) × 6.63 =
$320
Step 4: Project Future Dividends Paid
Forward dividend per share: $1.42.
Projected over 5 years with a growth rate of
11.60%, dividends add to total shareholder return.
Expected dividends in 5 years:
$9.34154768873437.
Step 5: Discount the Projected Stock Price
Projected stock price: $320.
Including dividends, total future value: $329.34.
Discounted at 10% per
year over 5 years → Fair Value:
$204.
