Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
98.57M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
33.81%.
Starting with 98.57M and growing at 33.81%
for 5 years, we estimate Free Cash Flow will be
422.86M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 44.55M.
We will project this out 5 year(s) with a growth rate
of 39.58%.
Estimated Diluted Shares Outstanding: 236.05M.
Step 3: Project Future Stock Price
Using a price ratio of 20.93, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(422.86M ÷ 236.05M) × 20.93 =
$37
Step 4: Project Future Dividends Paid
Forward dividend per share: $1.2.
Projected over 5 years with a growth rate of
-5.88%, dividends add to total shareholder return.
Expected dividends in 5 years:
$5.156512164877189.
Step 5: Discount the Projected Stock Price
Projected stock price: $37.
Including dividends, total future value: $42.16.
Discounted at 10% per
year over 5 years → Fair Value:
$26.
