Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
344.95M
as of Aug 2, 2025.
We will project this out 5 years with a yearly growth
rate of
40.05%.
Starting with 344.95M and growing at 40.05%
for 5 years, we estimate Free Cash Flow will be
1.86B.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 47.07M.
We will project this out 5 year(s) with a growth rate
of -4.24%.
Estimated Diluted Shares Outstanding: 37.9M.
Step 3: Project Future Stock Price
Using a price ratio of 9.64, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(1.86B ÷ 37.9M) × 9.64 =
$472
Step 4: Project Future Dividends Paid
Forward dividend per share: $0.
Projected over 5 years with a growth rate of
n/a, dividends add to total shareholder return.
Expected dividends in 5 years:
$0.
Step 5: Discount the Projected Stock Price
Projected stock price: $472.
Including dividends, total future value: $472.
Discounted at 10% per
year over 5 years → Fair Value:
$293.
