Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
137.26M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
15.08%.
Starting with 137.26M and growing at 15.08%
for 5 years, we estimate Free Cash Flow will be
277.05M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 16.76M.
We will project this out 5 year(s) with a growth rate
of 3.3%.
Estimated Diluted Shares Outstanding: 19.71M.
Step 3: Project Future Stock Price
Using a price ratio of 23.06, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(277.05M ÷ 19.71M) × 23.06 =
$324
Step 4: Project Future Dividends Paid
Forward dividend per share: $3.81.
Projected over 5 years with a growth rate of
-3.77%, dividends add to total shareholder return.
Expected dividends in 5 years:
$17.304983697589254.
Step 5: Discount the Projected Stock Price
Projected stock price: $324.
Including dividends, total future value: $341.3.
Discounted at 10% per
year over 5 years → Fair Value:
$211.
