Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
360.28M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
21.24%.
Starting with 360.28M and growing at 21.24%
for 5 years, we estimate Free Cash Flow will be
943.79M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 91.4M.
We will project this out 5 year(s) with a growth rate
of -0.84%.
Estimated Diluted Shares Outstanding: 87.62M.
Step 3: Project Future Stock Price
Using a price ratio of 78.06, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(943.79M ÷ 87.62M) × 78.06 =
$840
Step 4: Project Future Dividends Paid
Forward dividend per share: $0.99.
Projected over 5 years with a growth rate of
-0.26%, dividends add to total shareholder return.
Expected dividends in 5 years:
$4.917887714053282.
Step 5: Discount the Projected Stock Price
Projected stock price: $840.
Including dividends, total future value: $844.92.
Discounted at 10% per
year over 5 years → Fair Value:
$524.
