Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
384.88M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
68.35%.
Starting with 384.88M and growing at 68.35%
for 5 years, we estimate Free Cash Flow will be
5.2B.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 186.7M.
We will project this out 5 year(s) with a growth rate
of 7.73%.
Estimated Diluted Shares Outstanding: 270.91M.
Step 3: Project Future Stock Price
Using a price ratio of 25.93, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(5.2B ÷ 270.91M) × 25.93 =
$498
Step 4: Project Future Dividends Paid
Forward dividend per share: $1.61.
Projected over 5 years with a growth rate of
-4.94%, dividends add to total shareholder return.
Expected dividends in 5 years:
$7.092354014617636.
Step 5: Discount the Projected Stock Price
Projected stock price: $498.
Including dividends, total future value: $505.09.
Discounted at 10% per
year over 5 years → Fair Value:
$313.
