Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
150.28M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
21.07%.
Starting with 150.28M and growing at 21.07%
for 5 years, we estimate Free Cash Flow will be
390.91M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 15.91M.
We will project this out 5 year(s) with a growth rate
of 1.42%.
Estimated Diluted Shares Outstanding: 17.07M.
Step 3: Project Future Stock Price
Using a price ratio of 28.95, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(390.91M ÷ 17.07M) × 28.95 =
$663
Step 4: Project Future Dividends Paid
Forward dividend per share: $1.23.
Projected over 5 years with a growth rate of
7.63%, dividends add to total shareholder return.
Expected dividends in 5 years:
$7.391089588597984.
Step 5: Discount the Projected Stock Price
Projected stock price: $663.
Including dividends, total future value: $670.39.
Discounted at 10% per
year over 5 years → Fair Value:
$416.
