Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
446.24M
as of Mar 31, 2025.
We will project this out 5 years with a yearly growth
rate of
74.66%.
Starting with 446.24M and growing at 74.66%
for 5 years, we estimate Free Cash Flow will be
7.25B.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 54.01M.
We will project this out 5 year(s) with a growth rate
of 1.33%.
Estimated Diluted Shares Outstanding: 57.7M.
Step 3: Project Future Stock Price
Using a price ratio of 4.84, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(7.25B ÷ 57.7M) × 4.84 =
$608
Step 4: Project Future Dividends Paid
Forward dividend per share: $0.32.
Projected over 5 years with a growth rate of
n/a, dividends add to total shareholder return.
Expected dividends in 5 years:
$1.6.
Step 5: Discount the Projected Stock Price
Projected stock price: $608.
Including dividends, total future value: $609.6.
Discounted at 10% per
year over 5 years → Fair Value:
$378.
