Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
372.44M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
45.86%.
Starting with 372.44M and growing at 45.86%
for 5 years, we estimate Free Cash Flow will be
2.46B.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 110.54M.
We will project this out 5 year(s) with a growth rate
of 3.52%.
Estimated Diluted Shares Outstanding: 131.41M.
Step 3: Project Future Stock Price
Using a price ratio of 13.95, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(2.46B ÷ 131.41M) × 13.95 =
$261
Step 4: Project Future Dividends Paid
Forward dividend per share: $4.09.
Projected over 5 years with a growth rate of
-1.32%, dividends add to total shareholder return.
Expected dividends in 5 years:
$19.781816292418345.
Step 5: Discount the Projected Stock Price
Projected stock price: $261.
Including dividends, total future value: $280.78.
Discounted at 10% per
year over 5 years → Fair Value:
$174.
