Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
169.09M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
9.18%.
Starting with 169.09M and growing at 9.18%
for 5 years, we estimate Free Cash Flow will be
262.32M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 17.38M.
We will project this out 5 year(s) with a growth rate
of -1.37%.
Estimated Diluted Shares Outstanding: 16.22M.
Step 3: Project Future Stock Price
Using a price ratio of 9.23, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(262.32M ÷ 16.22M) × 9.23 =
$149
Step 4: Project Future Dividends Paid
Forward dividend per share: $2.17.
Projected over 5 years with a growth rate of
3.41%, dividends add to total shareholder return.
Expected dividends in 5 years:
$11.798752293104185.
Step 5: Discount the Projected Stock Price
Projected stock price: $149.
Including dividends, total future value: $160.8.
Discounted at 10% per
year over 5 years → Fair Value:
$99.
