Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
248.1M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
23.09%.
Starting with 248.1M and growing at 23.09%
for 5 years, we estimate Free Cash Flow will be
701.03M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 45.54M.
We will project this out 5 year(s) with a growth rate
of 3.45%.
Estimated Diluted Shares Outstanding: 53.96M.
Step 3: Project Future Stock Price
Using a price ratio of 91.15, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(701.03M ÷ 53.96M) × 91.15 =
$1184
Step 4: Project Future Dividends Paid
Forward dividend per share: $1.33.
Projected over 5 years with a growth rate of
4.56%, dividends add to total shareholder return.
Expected dividends in 5 years:
$7.434222957272863.
Step 5: Discount the Projected Stock Price
Projected stock price: $1184.
Including dividends, total future value: $1191.43.
Discounted at 10% per
year over 5 years → Fair Value:
$739.
