Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
153.08M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
8.79%.
Starting with 153.08M and growing at 8.79%
for 5 years, we estimate Free Cash Flow will be
233.28M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 32.46M.
We will project this out 5 year(s) with a growth rate
of 0.13%.
Estimated Diluted Shares Outstanding: 32.67M.
Step 3: Project Future Stock Price
Using a price ratio of 37.13, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(233.28M ÷ 32.67M) × 37.13 =
$265
Step 4: Project Future Dividends Paid
Forward dividend per share: $1.66.
Projected over 5 years with a growth rate of
10.84%, dividends add to total shareholder return.
Expected dividends in 5 years:
$10.73542853352745.
Step 5: Discount the Projected Stock Price
Projected stock price: $265.
Including dividends, total future value: $275.74.
Discounted at 10% per
year over 5 years → Fair Value:
$171.
