Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
683.52M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
19.5%.
Starting with 683.52M and growing at 19.5%
for 5 years, we estimate Free Cash Flow will be
1.67B.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 58.68M.
We will project this out 5 year(s) with a growth rate
of -0.81%.
Estimated Diluted Shares Outstanding: 56.34M.
Step 3: Project Future Stock Price
Using a price ratio of 38.08, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(1.67B ÷ 56.34M) × 38.08 =
$1125
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: $1125.
Including dividends, total future value: $1125.
Discounted at 10% per
year over 5 years → Fair Value:
$698.
