Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
110.08M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
20.13%.
Starting with 110.08M and growing at 20.13%
for 5 years, we estimate Free Cash Flow will be
275.41M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 52.65M.
We will project this out 5 year(s) with a growth rate
of 8.45%.
Estimated Diluted Shares Outstanding: 78.99M.
Step 3: Project Future Stock Price
Using a price ratio of 11.88, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(275.41M ÷ 78.99M) × 11.88 =
$41
Step 4: Project Future Dividends Paid
Forward dividend per share: $0.29.
Projected over 5 years with a growth rate of
35.10%, dividends add to total shareholder return.
Expected dividends in 5 years:
$3.0761419675485566.
Step 5: Discount the Projected Stock Price
Projected stock price: $41.
Including dividends, total future value: $44.08.
Discounted at 10% per
year over 5 years → Fair Value:
$27.
