Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
135.6M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
31.82%.
Starting with 135.6M and growing at 31.82%
for 5 years, we estimate Free Cash Flow will be
539.72M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 182.11M.
We will project this out 5 year(s) with a growth rate
of 1.1%.
Estimated Diluted Shares Outstanding: 192.34M.
Step 3: Project Future Stock Price
Using a price ratio of 27.42, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(539.72M ÷ 192.34M) × 27.42 =
$76
Step 4: Project Future Dividends Paid
Forward dividend per share: $1.6.
Projected over 5 years with a growth rate of
28.90%, dividends add to total shareholder return.
Expected dividends in 5 years:
$15.091148072653342.
Step 5: Discount the Projected Stock Price
Projected stock price: $76.
Including dividends, total future value: $91.09.
Discounted at 10% per
year over 5 years → Fair Value:
$56.
