Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
11.45M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
57.44%.
Starting with 11.45M and growing at 57.44%
for 5 years, we estimate Free Cash Flow will be
110.74M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 47.91M.
We will project this out 5 year(s) with a growth rate
of 18.81%.
Estimated Diluted Shares Outstanding: 113.41M.
Step 3: Project Future Stock Price
Using a price ratio of 126.34, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(110.74M ÷ 113.41M) × 126.34 =
$123
Step 4: Project Future Dividends Paid
Forward dividend per share: $0.
Projected over 5 years with a growth rate of
n/a, dividends add to total shareholder return.
Expected dividends in 5 years:
$0.
Step 5: Discount the Projected Stock Price
Projected stock price: $123.
Including dividends, total future value: $123.
Discounted at 10% per
year over 5 years → Fair Value:
$76.
