Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
153.77M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
16.21%.
Starting with 153.77M and growing at 16.21%
for 5 years, we estimate Free Cash Flow will be
325.9M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 35.67M.
We will project this out 5 year(s) with a growth rate
of 11.63%.
Estimated Diluted Shares Outstanding: 61.83M.
Step 3: Project Future Stock Price
Using a price ratio of 7.28, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(325.9M ÷ 61.83M) × 7.28 =
$38
Step 4: Project Future Dividends Paid
Forward dividend per share: $2.02.
Projected over 5 years with a growth rate of
-2.29%, dividends add to total shareholder return.
Expected dividends in 5 years:
$9.531668001752488.
Step 5: Discount the Projected Stock Price
Projected stock price: $38.
Including dividends, total future value: $47.53.
Discounted at 10% per
year over 5 years → Fair Value:
$29.
