Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
598.85M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
85.48%.
Starting with 598.85M and growing at 85.48%
for 5 years, we estimate Free Cash Flow will be
13.15B.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 133.94M.
We will project this out 5 year(s) with a growth rate
of -7.07%.
Estimated Diluted Shares Outstanding: 92.83M.
Step 3: Project Future Stock Price
Using a price ratio of 15.38, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(13.15B ÷ 92.83M) × 15.38 =
$2178
Step 4: Project Future Dividends Paid
Forward dividend per share: $1.92.
Projected over 5 years with a growth rate of
2.38%, dividends add to total shareholder return.
Expected dividends in 5 years:
$10.181436244346317.
Step 5: Discount the Projected Stock Price
Projected stock price: $2178.
Including dividends, total future value: $2188.18.
Discounted at 10% per
year over 5 years → Fair Value:
$1358.
