Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
120.7M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
35.41%.
Starting with 120.7M and growing at 35.41%
for 5 years, we estimate Free Cash Flow will be
549.49M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 17.72M.
We will project this out 5 year(s) with a growth rate
of 1.15%.
Estimated Diluted Shares Outstanding: 18.76M.
Step 3: Project Future Stock Price
Using a price ratio of 7.26, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(549.49M ÷ 18.76M) × 7.26 =
$212
Step 4: Project Future Dividends Paid
Forward dividend per share: $1.77.
Projected over 5 years with a growth rate of
-3.37%, dividends add to total shareholder return.
Expected dividends in 5 years:
$8.123126557397654.
Step 5: Discount the Projected Stock Price
Projected stock price: $212.
Including dividends, total future value: $220.12.
Discounted at 10% per
year over 5 years → Fair Value:
$136.
