Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
133.54M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
29.57%.
Starting with 133.54M and growing at 29.57%
for 5 years, we estimate Free Cash Flow will be
487.68M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 38.05M.
We will project this out 5 year(s) with a growth rate
of 4.03%.
Estimated Diluted Shares Outstanding: 46.36M.
Step 3: Project Future Stock Price
Using a price ratio of 2.78, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(487.68M ÷ 46.36M) × 2.78 =
$29
Step 4: Project Future Dividends Paid
Forward dividend per share: $1.46.
Projected over 5 years with a growth rate of
2.16%, dividends add to total shareholder return.
Expected dividends in 5 years:
$7.700608968070339.
Step 5: Discount the Projected Stock Price
Projected stock price: $29.
Including dividends, total future value: $36.7.
Discounted at 10% per
year over 5 years → Fair Value:
$22.
