Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
953M
as of Jun 29, 2025.
We will project this out 5 years with a yearly growth
rate of
23%.
Starting with 953M and growing at 23%
for 5 years, we estimate Free Cash Flow will be
2.68B.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 46.89M.
We will project this out 5 year(s) with a growth rate
of 4.89%.
Estimated Diluted Shares Outstanding: 59.53M.
Step 3: Project Future Stock Price
Using a price ratio of 30.25, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(2.68B ÷ 59.53M) × 30.25 =
$1363
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: $1363.
Including dividends, total future value: $1363.
Discounted at 10% per
year over 5 years → Fair Value:
$846.
