Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
396.77M
as of Mar 31, 2025.
We will project this out 5 years with a yearly growth
rate of
44.24%.
Starting with 396.77M and growing at 44.24%
for 5 years, we estimate Free Cash Flow will be
2.48B.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 16.94M.
We will project this out 5 year(s) with a growth rate
of 1.21%.
Estimated Diluted Shares Outstanding: 17.99M.
Step 3: Project Future Stock Price
Using a price ratio of 7.6, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(2.48B ÷ 17.99M) × 7.6 =
$1046
Step 4: Project Future Dividends Paid
Forward dividend per share: $0.24.
Projected over 5 years with a growth rate of
-5.59%, dividends add to total shareholder return.
Expected dividends in 5 years:
$1.0392648531026614.
Step 5: Discount the Projected Stock Price
Projected stock price: $1046.
Including dividends, total future value: $1047.04.
Discounted at 10% per
year over 5 years → Fair Value:
$650.
