Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
10.27M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
12.35%.
Starting with 10.27M and growing at 12.35%
for 5 years, we estimate Free Cash Flow will be
18.39M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 6.21M.
We will project this out 5 year(s) with a growth rate
of 3.23%.
Estimated Diluted Shares Outstanding: 7.28M.
Step 3: Project Future Stock Price
Using a price ratio of 20.74, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(18.39M ÷ 7.28M) × 20.74 =
$52
Step 4: Project Future Dividends Paid
Forward dividend per share: $2.11.
Projected over 5 years with a growth rate of
n/a, dividends add to total shareholder return.
Expected dividends in 5 years:
$10.549999999999999.
Step 5: Discount the Projected Stock Price
Projected stock price: $52.
Including dividends, total future value: $62.55.
Discounted at 10% per
year over 5 years → Fair Value:
$38.
