Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
339.62M
as of Jul 31, 2025.
We will project this out 5 years with a yearly growth
rate of
39.57%.
Starting with 339.62M and growing at 39.57%
for 5 years, we estimate Free Cash Flow will be
1.8B.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 86.77M.
We will project this out 5 year(s) with a growth rate
of 5.35%.
Estimated Diluted Shares Outstanding: 112.6M.
Step 3: Project Future Stock Price
Using a price ratio of 109.63, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(1.8B ÷ 112.6M) × 109.63 =
$1751
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: $1751.
Including dividends, total future value: $1751.
Discounted at 10% per
year over 5 years → Fair Value:
$1087.
