Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
419.05M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
35.23%.
Starting with 419.05M and growing at 35.23%
for 5 years, we estimate Free Cash Flow will be
1.9B.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 4.36M.
We will project this out 5 year(s) with a growth rate
of -3.73%.
Estimated Diluted Shares Outstanding: 3.61M.
Step 3: Project Future Stock Price
Using a price ratio of 34.61, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(1.9B ÷ 3.61M) × 34.61 =
$18193
Step 4: Project Future Dividends Paid
Forward dividend per share: $8.92.
Projected over 5 years with a growth rate of
4.42%, dividends add to total shareholder return.
Expected dividends in 5 years:
$49.6928700976609.
Step 5: Discount the Projected Stock Price
Projected stock price: $18193.
Including dividends, total future value: $18242.69.
Discounted at 10% per
year over 5 years → Fair Value:
$11327.
