Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
184.87M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
24.36%.
Starting with 184.87M and growing at 24.36%
for 5 years, we estimate Free Cash Flow will be
549.87M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 103.3M.
We will project this out 5 year(s) with a growth rate
of 8.17%.
Estimated Diluted Shares Outstanding: 152.98M.
Step 3: Project Future Stock Price
Using a price ratio of 55.68, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(549.87M ÷ 152.98M) × 55.68 =
$200
Step 4: Project Future Dividends Paid
Forward dividend per share: $2.48.
Projected over 5 years with a growth rate of
6.02%, dividends add to total shareholder return.
Expected dividends in 5 years:
$14.351298078404481.
Step 5: Discount the Projected Stock Price
Projected stock price: $200.
Including dividends, total future value: $214.35.
Discounted at 10% per
year over 5 years → Fair Value:
$133.
