Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
364.7M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
29.13%.
Starting with 364.7M and growing at 29.13%
for 5 years, we estimate Free Cash Flow will be
1.31B.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 19.29M.
We will project this out 5 year(s) with a growth rate
of -8.14%.
Estimated Diluted Shares Outstanding: 12.62M.
Step 3: Project Future Stock Price
Using a price ratio of 15.22, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(1.31B ÷ 12.62M) × 15.22 =
$1579
Step 4: Project Future Dividends Paid
Forward dividend per share: $2.45.
Projected over 5 years with a growth rate of
43.48%, dividends add to total shareholder return.
Expected dividends in 5 years:
$30.207480841243143.
Step 5: Discount the Projected Stock Price
Projected stock price: $1579.
Including dividends, total future value: $1609.21.
Discounted at 10% per
year over 5 years → Fair Value:
$999.
