Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
53.3M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
14.43%.
Starting with 53.3M and growing at 14.43%
for 5 years, we estimate Free Cash Flow will be
104.56M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 17.02M.
We will project this out 5 year(s) with a growth rate
of 3.74%.
Estimated Diluted Shares Outstanding: 20.45M.
Step 3: Project Future Stock Price
Using a price ratio of 11.19, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(104.56M ÷ 20.45M) × 11.19 =
$57
Step 4: Project Future Dividends Paid
Forward dividend per share: $0.4.
Projected over 5 years with a growth rate of
3.71%, dividends add to total shareholder return.
Expected dividends in 5 years:
$2.19069330662104.
Step 5: Discount the Projected Stock Price
Projected stock price: $57.
Including dividends, total future value: $59.19.
Discounted at 10% per
year over 5 years → Fair Value:
$36.
