Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
56.91M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
37.75%.
Starting with 56.91M and growing at 37.75%
for 5 years, we estimate Free Cash Flow will be
282.28M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 14.18M.
We will project this out 5 year(s) with a growth rate
of 1.02%.
Estimated Diluted Shares Outstanding: 14.91M.
Step 3: Project Future Stock Price
Using a price ratio of 12, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(282.28M ÷ 14.91M) × 12 =
$227
Step 4: Project Future Dividends Paid
Forward dividend per share: $1.1.
Projected over 5 years with a growth rate of
-2.00%, dividends add to total shareholder return.
Expected dividends in 5 years:
$5.229111215417014.
Step 5: Discount the Projected Stock Price
Projected stock price: $227.
Including dividends, total future value: $232.23.
Discounted at 10% per
year over 5 years → Fair Value:
$144.
