Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
172.61M
as of Mar 31, 2025.
We will project this out 5 years with a yearly growth
rate of
18.21%.
Starting with 172.61M and growing at 18.21%
for 5 years, we estimate Free Cash Flow will be
398.41M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 199.4M.
We will project this out 5 year(s) with a growth rate
of 6.81%.
Estimated Diluted Shares Outstanding: 277.2M.
Step 3: Project Future Stock Price
Using a price ratio of 20.08, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(398.41M ÷ 277.2M) × 20.08 =
$28
Step 4: Project Future Dividends Paid
Forward dividend per share: $1.1.
Projected over 5 years with a growth rate of
32.00%, dividends add to total shareholder return.
Expected dividends in 5 years:
$11.010258550860648.
Step 5: Discount the Projected Stock Price
Projected stock price: $28.
Including dividends, total future value: $39.01.
Discounted at 10% per
year over 5 years → Fair Value:
$24.
