Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
51.41M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
42.69%.
Starting with 51.41M and growing at 42.69%
for 5 years, we estimate Free Cash Flow will be
304.11M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 35.66M.
We will project this out 5 year(s) with a growth rate
of -0.26%.
Estimated Diluted Shares Outstanding: 35.2M.
Step 3: Project Future Stock Price
Using a price ratio of 692.17, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(304.11M ÷ 35.2M) × 692.17 =
$5980
Step 4: Project Future Dividends Paid
Forward dividend per share: $0.66.
Projected over 5 years with a growth rate of
n/a, dividends add to total shareholder return.
Expected dividends in 5 years:
$3.3000000000000003.
Step 5: Discount the Projected Stock Price
Projected stock price: $5980.
Including dividends, total future value: $5983.3.
Discounted at 10% per
year over 5 years → Fair Value:
$3715.
