Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
247.21M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
18.22%.
Starting with 247.21M and growing at 18.22%
for 5 years, we estimate Free Cash Flow will be
570.85M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 27.53M.
We will project this out 5 year(s) with a growth rate
of -0.01%.
Estimated Diluted Shares Outstanding: 27.52M.
Step 3: Project Future Stock Price
Using a price ratio of 718.13, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(570.85M ÷ 27.52M) × 718.13 =
$14896
Step 4: Project Future Dividends Paid
Forward dividend per share: $4.7.
Projected over 5 years with a growth rate of
n/a, dividends add to total shareholder return.
Expected dividends in 5 years:
$23.5.
Step 5: Discount the Projected Stock Price
Projected stock price: $14896.
Including dividends, total future value: $14919.5.
Discounted at 10% per
year over 5 years → Fair Value:
$9263.
