Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
694M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
14.5%.
Starting with 694M and growing at 14.5%
for 5 years, we estimate Free Cash Flow will be
1.37B.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 331.08M.
We will project this out 5 year(s) with a growth rate
of 0.77%.
Estimated Diluted Shares Outstanding: 344.03M.
Step 3: Project Future Stock Price
Using a price ratio of 37.24, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(1.37B ÷ 344.03M) × 37.24 =
$147
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: $147.
Including dividends, total future value: $147.
Discounted at 10% per
year over 5 years → Fair Value:
$91.
