Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
236.6M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
23.99%.
Starting with 236.6M and growing at 23.99%
for 5 years, we estimate Free Cash Flow will be
693.34M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 65.6M.
We will project this out 5 year(s) with a growth rate
of -1.2%.
Estimated Diluted Shares Outstanding: 61.76M.
Step 3: Project Future Stock Price
Using a price ratio of 8.78, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(693.34M ÷ 61.76M) × 8.78 =
$98
Step 4: Project Future Dividends Paid
Forward dividend per share: $0.68.
Projected over 5 years with a growth rate of
33.56%, dividends add to total shareholder return.
Expected dividends in 5 years:
$7.009224059038948.
Step 5: Discount the Projected Stock Price
Projected stock price: $98.
Including dividends, total future value: $105.01.
Discounted at 10% per
year over 5 years → Fair Value:
$65.
