Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
704.3M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
39.98%.
Starting with 704.3M and growing at 39.98%
for 5 years, we estimate Free Cash Flow will be
3.79B.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 47.89M.
We will project this out 5 year(s) with a growth rate
of 1.31%.
Estimated Diluted Shares Outstanding: 51.11M.
Step 3: Project Future Stock Price
Using a price ratio of 72.22, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(3.79B ÷ 51.11M) × 72.22 =
$5348
Step 4: Project Future Dividends Paid
Forward dividend per share: $7.18.
Projected over 5 years with a growth rate of
18.53%, dividends add to total shareholder return.
Expected dividends in 5 years:
$54.91173419290395.
Step 5: Discount the Projected Stock Price
Projected stock price: $5348.
Including dividends, total future value: $5402.91.
Discounted at 10% per
year over 5 years → Fair Value:
$3354.
