Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
116.89M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
23.59%.
Starting with 116.89M and growing at 23.59%
for 5 years, we estimate Free Cash Flow will be
337.04M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 233.82M.
We will project this out 5 year(s) with a growth rate
of 20.06%.
Estimated Diluted Shares Outstanding: 583.27M.
Step 3: Project Future Stock Price
Using a price ratio of 73.47, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(337.04M ÷ 583.27M) × 73.47 =
$42
Step 4: Project Future Dividends Paid
Forward dividend per share: $0.82.
Projected over 5 years with a growth rate of
-1.53%, dividends add to total shareholder return.
Expected dividends in 5 years:
$3.9449699691626643.
Step 5: Discount the Projected Stock Price
Projected stock price: $42.
Including dividends, total future value: $45.94.
Discounted at 10% per
year over 5 years → Fair Value:
$28.
