Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
296.98M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
39.1%.
Starting with 296.98M and growing at 39.1%
for 5 years, we estimate Free Cash Flow will be
1.55B.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 49.37M.
We will project this out 5 year(s) with a growth rate
of 11.19%.
Estimated Diluted Shares Outstanding: 83.9M.
Step 3: Project Future Stock Price
Using a price ratio of 1.93, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(1.55B ÷ 83.9M) × 1.93 =
$35
Step 4: Project Future Dividends Paid
Forward dividend per share: $4.77.
Projected over 5 years with a growth rate of
53.87%, dividends add to total shareholder return.
Expected dividends in 5 years:
$70.04437554385186.
Step 5: Discount the Projected Stock Price
Projected stock price: $35.
Including dividends, total future value: $105.04.
Discounted at 10% per
year over 5 years → Fair Value:
$65.
