Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
118.16M
as of Jun 27, 2025.
We will project this out 5 years with a yearly growth
rate of
20.26%.
Starting with 118.16M and growing at 20.26%
for 5 years, we estimate Free Cash Flow will be
297.21M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 113.76M.
We will project this out 5 year(s) with a growth rate
of 5.57%.
Estimated Diluted Shares Outstanding: 149.17M.
Step 3: Project Future Stock Price
Using a price ratio of 477.17, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(297.21M ÷ 149.17M) × 477.17 =
$950
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: $950.
Including dividends, total future value: $950.
Discounted at 10% per
year over 5 years → Fair Value:
$589.
