Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
120.97M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
15.26%.
Starting with 120.97M and growing at 15.26%
for 5 years, we estimate Free Cash Flow will be
246.08M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 24M.
We will project this out 5 year(s) with a growth rate
of 7.42%.
Estimated Diluted Shares Outstanding: 34.32M.
Step 3: Project Future Stock Price
Using a price ratio of 10.33, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(246.08M ÷ 34.32M) × 10.33 =
$74
Step 4: Project Future Dividends Paid
Forward dividend per share: $1.21.
Projected over 5 years with a growth rate of
-2.06%, dividends add to total shareholder return.
Expected dividends in 5 years:
$5.743222263430533.
Step 5: Discount the Projected Stock Price
Projected stock price: $74.
Including dividends, total future value: $79.74.
Discounted at 10% per
year over 5 years → Fair Value:
$49.
