Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
770.58M
as of Aug 2, 2025.
We will project this out 5 years with a yearly growth
rate of
18.43%.
Starting with 770.58M and growing at 18.43%
for 5 years, we estimate Free Cash Flow will be
1.8B.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 15.61M.
We will project this out 5 year(s) with a growth rate
of -8.67%.
Estimated Diluted Shares Outstanding: 9.92M.
Step 3: Project Future Stock Price
Using a price ratio of 6.24, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(1.8B ÷ 9.92M) × 6.24 =
$1129
Step 4: Project Future Dividends Paid
Forward dividend per share: $26.3.
Projected over 5 years with a growth rate of
5.92%, dividends add to total shareholder return.
Expected dividends in 5 years:
$151.83457671486624.
Step 5: Discount the Projected Stock Price
Projected stock price: $1129.
Including dividends, total future value: $1280.83.
Discounted at 10% per
year over 5 years → Fair Value:
$795.
