Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
200.37M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
12.6%.
Starting with 200.37M and growing at 12.6%
for 5 years, we estimate Free Cash Flow will be
362.68M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 13.14M.
We will project this out 5 year(s) with a growth rate
of 1.59%.
Estimated Diluted Shares Outstanding: 14.22M.
Step 3: Project Future Stock Price
Using a price ratio of 3.97, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(362.68M ÷ 14.22M) × 3.97 =
$101
Step 4: Project Future Dividends Paid
Forward dividend per share: $4.96.
Projected over 5 years with a growth rate of
20.71%, dividends add to total shareholder return.
Expected dividends in 5 years:
$39.7017641996169.
Step 5: Discount the Projected Stock Price
Projected stock price: $101.
Including dividends, total future value: $140.7.
Discounted at 10% per
year over 5 years → Fair Value:
$87.
