Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
311.23M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
38.87%.
Starting with 311.23M and growing at 38.87%
for 5 years, we estimate Free Cash Flow will be
1.61B.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 25.8M.
We will project this out 5 year(s) with a growth rate
of -1.34%.
Estimated Diluted Shares Outstanding: 24.12M.
Step 3: Project Future Stock Price
Using a price ratio of 29.09, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(1.61B ÷ 24.12M) × 29.09 =
$1938
Step 4: Project Future Dividends Paid
Forward dividend per share: $2.8.
Projected over 5 years with a growth rate of
10.91%, dividends add to total shareholder return.
Expected dividends in 5 years:
$18.136555069505217.
Step 5: Discount the Projected Stock Price
Projected stock price: $1938.
Including dividends, total future value: $1956.14.
Discounted at 10% per
year over 5 years → Fair Value:
$1214.
