Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
478.15M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
27.8%.
Starting with 478.15M and growing at 27.8%
for 5 years, we estimate Free Cash Flow will be
1.63B.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 110.67M.
We will project this out 5 year(s) with a growth rate
of 19.84%.
Estimated Diluted Shares Outstanding: 273.54M.
Step 3: Project Future Stock Price
Using a price ratio of 19.5, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(1.63B ÷ 273.54M) × 19.5 =
$116
Step 4: Project Future Dividends Paid
Forward dividend per share: $3.3.
Projected over 5 years with a growth rate of
-0.93%, dividends add to total shareholder return.
Expected dividends in 5 years:
$16.119046632074287.
Step 5: Discount the Projected Stock Price
Projected stock price: $116.
Including dividends, total future value: $132.12.
Discounted at 10% per
year over 5 years → Fair Value:
$82.
