Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
11.3M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
36.3%.
Starting with 11.3M and growing at 36.3%
for 5 years, we estimate Free Cash Flow will be
53.15M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 14.3M.
We will project this out 5 year(s) with a growth rate
of -0.89%.
Estimated Diluted Shares Outstanding: 13.67M.
Step 3: Project Future Stock Price
Using a price ratio of 7.73, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(53.15M ÷ 13.67M) × 7.73 =
$30
Step 4: Project Future Dividends Paid
Forward dividend per share: $1.75.
Projected over 5 years with a growth rate of
0.98%, dividends add to total shareholder return.
Expected dividends in 5 years:
$8.965953226678481.
Step 5: Discount the Projected Stock Price
Projected stock price: $30.
Including dividends, total future value: $38.97.
Discounted at 10% per
year over 5 years → Fair Value:
$24.
