Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
262.09M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
10.37%.
Starting with 262.09M and growing at 10.37%
for 5 years, we estimate Free Cash Flow will be
429.25M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 107.59M.
We will project this out 5 year(s) with a growth rate
of -0.35%.
Estimated Diluted Shares Outstanding: 105.72M.
Step 3: Project Future Stock Price
Using a price ratio of 23.66, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(429.25M ÷ 105.72M) × 23.66 =
$96
Step 4: Project Future Dividends Paid
Forward dividend per share: $0.
Projected over 5 years with a growth rate of
n/a, dividends add to total shareholder return.
Expected dividends in 5 years:
$0.
Step 5: Discount the Projected Stock Price
Projected stock price: $96.
Including dividends, total future value: $96.
Discounted at 10% per
year over 5 years → Fair Value:
$59.
