TriNet Group Inc. (TNET)

Step 1: Project Free Cash Flow

The most recent Free Cash Flow (TTM) value is 288M as of Jun 30, 2026.

We will project this out 5 years with a yearly growth rate of -19.04%.

Starting with 288M and growing at -19.04% for 5 years, we estimate Free Cash Flow will be 100.17M.

Step 2: Project Future Diluted Shares Outstanding

The most recent Diluted Shares Outstanding value is 45.9M.

We will project this out 5 year(s) with a growth rate of -8.66%.

Estimated Diluted Shares Outstanding: 29.19M.

Step 3: Project Future Stock Price

Using a price ratio of 13.8, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding) × Price Ratio

(100.17M ÷ 29.19M) × 13.8 = $47

Step 4: Project Future Dividends Paid

Forward dividend per share: $1.16.

Projected over 5 years with a growth rate of 43.33%, dividends add to total shareholder return.

Expected dividends in 5 years: $14.264966159957977.

Step 5: Discount the Projected Stock Price

Projected stock price: $47.

Including dividends, total future value: $61.26.

Discounted at 10% per year over 5 years → Fair Value: $38.