Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
21.76M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
30.22%.
Starting with 21.76M and growing at 30.22%
for 5 years, we estimate Free Cash Flow will be
81.48M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 42.32M.
We will project this out 5 year(s) with a growth rate
of 5.96%.
Estimated Diluted Shares Outstanding: 56.53M.
Step 3: Project Future Stock Price
Using a price ratio of 8.83, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(81.48M ÷ 56.53M) × 8.83 =
$12
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: $12.
Including dividends, total future value: $12.
Discounted at 10% per
year over 5 years → Fair Value:
$7.
