Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
167.06M
as of Mar 31, 2025.
We will project this out 5 years with a yearly growth
rate of
18.24%.
Starting with 167.06M and growing at 18.24%
for 5 years, we estimate Free Cash Flow will be
386.11M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 64.95M.
We will project this out 5 year(s) with a growth rate
of -1.38%.
Estimated Diluted Shares Outstanding: 60.59M.
Step 3: Project Future Stock Price
Using a price ratio of 7.67, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(386.11M ÷ 60.59M) × 7.67 =
$48
Step 4: Project Future Dividends Paid
Forward dividend per share: $0.54.
Projected over 5 years with a growth rate of
n/a, dividends add to total shareholder return.
Expected dividends in 5 years:
$2.7.
Step 5: Discount the Projected Stock Price
Projected stock price: $48.
Including dividends, total future value: $50.7.
Discounted at 10% per
year over 5 years → Fair Value:
$31.
