Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
139.17M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
14.94%.
Starting with 139.17M and growing at 14.94%
for 5 years, we estimate Free Cash Flow will be
279.19M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 47.34M.
We will project this out 5 year(s) with a growth rate
of 4.15%.
Estimated Diluted Shares Outstanding: 58.01M.
Step 3: Project Future Stock Price
Using a price ratio of 10.28, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(279.19M ÷ 58.01M) × 10.28 =
$49
Step 4: Project Future Dividends Paid
Forward dividend per share: $3.08.
Projected over 5 years with a growth rate of
8.44%, dividends add to total shareholder return.
Expected dividends in 5 years:
$18.857950572907924.
Step 5: Discount the Projected Stock Price
Projected stock price: $49.
Including dividends, total future value: $67.86.
Discounted at 10% per
year over 5 years → Fair Value:
$42.
