Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
875.67M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
57.84%.
Starting with 875.67M and growing at 57.84%
for 5 years, we estimate Free Cash Flow will be
8.58B.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 82.14M.
We will project this out 5 year(s) with a growth rate
of 13.76%.
Estimated Diluted Shares Outstanding: 156.49M.
Step 3: Project Future Stock Price
Using a price ratio of 26.2, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(8.58B ÷ 156.49M) × 26.2 =
$1436
Step 4: Project Future Dividends Paid
Forward dividend per share: $0.
Projected over 5 years with a growth rate of
21.18%, dividends add to total shareholder return.
Expected dividends in 5 years:
$0.
Step 5: Discount the Projected Stock Price
Projected stock price: $1436.
Including dividends, total future value: $1436.
Discounted at 10% per
year over 5 years → Fair Value:
$891.
