Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
433.75M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
22.27%.
Starting with 433.75M and growing at 22.27%
for 5 years, we estimate Free Cash Flow will be
1.19B.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 292.09M.
We will project this out 5 year(s) with a growth rate
of 5.02%.
Estimated Diluted Shares Outstanding: 373.15M.
Step 3: Project Future Stock Price
Using a price ratio of 45.74, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(1.19B ÷ 373.15M) × 45.74 =
$145
Step 4: Project Future Dividends Paid
Forward dividend per share: $0.27.
Projected over 5 years with a growth rate of
47.58%, dividends add to total shareholder return.
Expected dividends in 5 years:
$3.571926662382778.
Step 5: Discount the Projected Stock Price
Projected stock price: $145.
Including dividends, total future value: $148.57.
Discounted at 10% per
year over 5 years → Fair Value:
$92.
