Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
464.79M
as of Aug 2, 2025.
We will project this out 5 years with a yearly growth
rate of
22.17%.
Starting with 464.79M and growing at 22.17%
for 5 years, we estimate Free Cash Flow will be
1.26B.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 80.1M.
We will project this out 5 year(s) with a growth rate
of -1.42%.
Estimated Diluted Shares Outstanding: 74.57M.
Step 3: Project Future Stock Price
Using a price ratio of 16.7, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(1.26B ÷ 74.57M) × 16.7 =
$283
Step 4: Project Future Dividends Paid
Forward dividend per share: $5.84.
Projected over 5 years with a growth rate of
23.82%, dividends add to total shareholder return.
Expected dividends in 5 years:
$49.81496742273935.
Step 5: Discount the Projected Stock Price
Projected stock price: $283.
Including dividends, total future value: $332.81.
Discounted at 10% per
year over 5 years → Fair Value:
$206.
