Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
15.06M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
21.45%.
Starting with 15.06M and growing at 21.45%
for 5 years, we estimate Free Cash Flow will be
39.79M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 1.12M.
We will project this out 5 year(s) with a growth rate
of 7.31%.
Estimated Diluted Shares Outstanding: 1.59M.
Step 3: Project Future Stock Price
Using a price ratio of 0.79, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(39.79M ÷ 1.59M) × 0.79 =
$19
Step 4: Project Future Dividends Paid
Forward dividend per share: $2.
Projected over 5 years with a growth rate of
-3.53%, dividends add to total shareholder return.
Expected dividends in 5 years:
$9.140726115138273.
Step 5: Discount the Projected Stock Price
Projected stock price: $19.
Including dividends, total future value: $28.14.
Discounted at 10% per
year over 5 years → Fair Value:
$17.
