Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
12.67M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
13.59%.
Starting with 12.67M and growing at 13.59%
for 5 years, we estimate Free Cash Flow will be
23.95M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 18.13M.
We will project this out 5 year(s) with a growth rate
of -1.27%.
Estimated Diluted Shares Outstanding: 17.01M.
Step 3: Project Future Stock Price
Using a price ratio of 128.14, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(23.95M ÷ 17.01M) × 128.14 =
$180
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: $180.
Including dividends, total future value: $180.
Discounted at 10% per
year over 5 years → Fair Value:
$111.
