Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
176.7M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
17.61%.
Starting with 176.7M and growing at 17.61%
for 5 years, we estimate Free Cash Flow will be
397.61M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 373.52M.
We will project this out 5 year(s) with a growth rate
of 12.37%.
Estimated Diluted Shares Outstanding: 669.22M.
Step 3: Project Future Stock Price
Using a price ratio of 17, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(397.61M ÷ 669.22M) × 17 =
$10
Step 4: Project Future Dividends Paid
Forward dividend per share: $1.3.
Projected over 5 years with a growth rate of
4.56%, dividends add to total shareholder return.
Expected dividends in 5 years:
$7.266533717635128.
Step 5: Discount the Projected Stock Price
Projected stock price: $10.
Including dividends, total future value: $17.27.
Discounted at 10% per
year over 5 years → Fair Value:
$10.
