Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
170.79M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
4.21%.
Starting with 170.79M and growing at 4.21%
for 5 years, we estimate Free Cash Flow will be
209.89M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 107.06M.
We will project this out 5 year(s) with a growth rate
of -1.26%.
Estimated Diluted Shares Outstanding: 100.48M.
Step 3: Project Future Stock Price
Using a price ratio of 12.17, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(209.89M ÷ 100.48M) × 12.17 =
$25
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: $25.
Including dividends, total future value: $25.
Discounted at 10% per
year over 5 years → Fair Value:
$15.
