Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
82.5M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
17.81%.
Starting with 82.5M and growing at 17.81%
for 5 years, we estimate Free Cash Flow will be
187.22M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 25.8M.
We will project this out 5 year(s) with a growth rate
of 0.16%.
Estimated Diluted Shares Outstanding: 26.01M.
Step 3: Project Future Stock Price
Using a price ratio of 37.63, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(187.22M ÷ 26.01M) × 37.63 =
$270
Step 4: Project Future Dividends Paid
Forward dividend per share: $1.45.
Projected over 5 years with a growth rate of
-0.29%, dividends add to total shareholder return.
Expected dividends in 5 years:
$7.197551768161124.
Step 5: Discount the Projected Stock Price
Projected stock price: $270.
Including dividends, total future value: $277.2.
Discounted at 10% per
year over 5 years → Fair Value:
$172.
