Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
125.38M
as of Dec 31, 2023.
We will project this out 5 years with a yearly growth
rate of
46.84%.
Starting with 125.38M and growing at 46.84%
for 5 years, we estimate Free Cash Flow will be
855.93M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 144.04M.
We will project this out 5 year(s) with a growth rate
of 0.27%.
Estimated Diluted Shares Outstanding: 145.99M.
Step 3: Project Future Stock Price
Using a price ratio of 16.55, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(855.93M ÷ 145.99M) × 16.55 =
$97
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: $97.
Including dividends, total future value: $97.
Discounted at 10% per
year over 5 years → Fair Value:
$60.
