Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
52.32M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
28.96%.
Starting with 52.32M and growing at 28.96%
for 5 years, we estimate Free Cash Flow will be
186.61M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 22.64M.
We will project this out 5 year(s) with a growth rate
of 2.3%.
Estimated Diluted Shares Outstanding: 25.36M.
Step 3: Project Future Stock Price
Using a price ratio of 45.25, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(186.61M ÷ 25.36M) × 45.25 =
$332
Step 4: Project Future Dividends Paid
Forward dividend per share: $0.76.
Projected over 5 years with a growth rate of
9.57%, dividends add to total shareholder return.
Expected dividends in 5 years:
$4.775432939617706.
Step 5: Discount the Projected Stock Price
Projected stock price: $332.
Including dividends, total future value: $336.78.
Discounted at 10% per
year over 5 years → Fair Value:
$209.
