Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
373.53M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
46.42%.
Starting with 373.53M and growing at 46.42%
for 5 years, we estimate Free Cash Flow will be
2.51B.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 26.78M.
We will project this out 5 year(s) with a growth rate
of 3.73%.
Estimated Diluted Shares Outstanding: 32.17M.
Step 3: Project Future Stock Price
Using a price ratio of 30.81, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(2.51B ÷ 32.17M) × 30.81 =
$2407
Step 4: Project Future Dividends Paid
Forward dividend per share: $0.
Projected over 5 years with a growth rate of
n/a, dividends add to total shareholder return.
Expected dividends in 5 years:
$0.
Step 5: Discount the Projected Stock Price
Projected stock price: $2407.
Including dividends, total future value: $2407.
Discounted at 10% per
year over 5 years → Fair Value:
$1494.
