Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
20.39M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
14.02%.
Starting with 20.39M and growing at 14.02%
for 5 years, we estimate Free Cash Flow will be
39.29M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 5.31M.
We will project this out 5 year(s) with a growth rate
of -1.64%.
Estimated Diluted Shares Outstanding: 4.89M.
Step 3: Project Future Stock Price
Using a price ratio of 8.39, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(39.29M ÷ 4.89M) × 8.39 =
$67
Step 4: Project Future Dividends Paid
Forward dividend per share: $1.14.
Projected over 5 years with a growth rate of
0.27%, dividends add to total shareholder return.
Expected dividends in 5 years:
$5.738552946923519.
Step 5: Discount the Projected Stock Price
Projected stock price: $67.
Including dividends, total future value: $72.74.
Discounted at 10% per
year over 5 years → Fair Value:
$45.
