Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
8.4M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
18.84%.
Starting with 8.4M and growing at 18.84%
for 5 years, we estimate Free Cash Flow will be
19.92M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 18.28M.
We will project this out 5 year(s) with a growth rate
of -0.74%.
Estimated Diluted Shares Outstanding: 17.61M.
Step 3: Project Future Stock Price
Using a price ratio of 27.98, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(19.92M ÷ 17.61M) × 27.98 =
$31
Step 4: Project Future Dividends Paid
Forward dividend per share: $0.09.
Projected over 5 years with a growth rate of
n/a, dividends add to total shareholder return.
Expected dividends in 5 years:
$0.44999999999999996.
Step 5: Discount the Projected Stock Price
Projected stock price: $31.
Including dividends, total future value: $31.45.
Discounted at 10% per
year over 5 years → Fair Value:
$19.
