Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
262.52M
as of Mar 31, 2024.
We will project this out 5 years with a yearly growth
rate of
35.35%.
Starting with 262.52M and growing at 35.35%
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 204.25M.
We will project this out 5 year(s) with a growth rate
of -2.5%.
Estimated Diluted Shares Outstanding: 179.96M.
Step 3: Project Future Stock Price
Using a price ratio of 10.51, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(1.19B ÷ 179.96M) × 10.51 =
$69
Step 4: Project Future Dividends Paid
Forward dividend per share: $0.
Projected over 5 years with a growth rate of
n/a, dividends add to total shareholder return.
Expected dividends in 5 years:
$0.
Step 5: Discount the Projected Stock Price
Projected stock price: $69.
Including dividends, total future value: $69.
Discounted at 10% per
year over 5 years → Fair Value:
$42.
