Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
182.33M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
11.22%.
Starting with 182.33M and growing at 11.22%
for 5 years, we estimate Free Cash Flow will be
310.29M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 351.61M.
We will project this out 5 year(s) with a growth rate
of 22.46%.
Estimated Diluted Shares Outstanding: 968.34M.
Step 3: Project Future Stock Price
Using a price ratio of 35.75, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(310.29M ÷ 968.34M) × 35.75 =
$11
Step 4: Project Future Dividends Paid
Forward dividend per share: $1.17.
Projected over 5 years with a growth rate of
-16.74%, dividends add to total shareholder return.
Expected dividends in 5 years:
$3.7003847498525944.
Step 5: Discount the Projected Stock Price
Projected stock price: $11.
Including dividends, total future value: $14.7.
Discounted at 10% per
year over 5 years → Fair Value:
$9.
