Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
106.8M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
37.71%.
Starting with 106.8M and growing at 37.71%
for 5 years, we estimate Free Cash Flow will be
528.94M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 28.64M.
We will project this out 5 year(s) with a growth rate
of 0.41%.
Estimated Diluted Shares Outstanding: 29.23M.
Step 3: Project Future Stock Price
Using a price ratio of 25.38, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(528.94M ÷ 29.23M) × 25.38 =
$459
Step 4: Project Future Dividends Paid
Forward dividend per share: $0.28.
Projected over 5 years with a growth rate of
7.06%, dividends add to total shareholder return.
Expected dividends in 5 years:
$1.6603365687301523.
Step 5: Discount the Projected Stock Price
Projected stock price: $459.
Including dividends, total future value: $460.66.
Discounted at 10% per
year over 5 years → Fair Value:
$286.
