Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
33.65M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
11.04%.
Starting with 33.65M and growing at 11.04%
for 5 years, we estimate Free Cash Flow will be
56.81M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 5.5M.
We will project this out 5 year(s) with a growth rate
of 4.43%.
Estimated Diluted Shares Outstanding: 6.83M.
Step 3: Project Future Stock Price
Using a price ratio of 28.73, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(56.81M ÷ 6.83M) × 28.73 =
$238
Step 4: Project Future Dividends Paid
Forward dividend per share: $0.8.
Projected over 5 years with a growth rate of
-5.59%, dividends add to total shareholder return.
Expected dividends in 5 years:
$3.464216177008871.
Step 5: Discount the Projected Stock Price
Projected stock price: $238.
Including dividends, total future value: $241.46.
Discounted at 10% per
year over 5 years → Fair Value:
$149.
