Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
1.28B
as of Jun 27, 2025.
We will project this out 5 years with a yearly growth
rate of
48.63%.
Starting with 1.28B and growing at 48.63%
for 5 years, we estimate Free Cash Flow will be
9.28B.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 347M.
We will project this out 5 year(s) with a growth rate
of 3.79%.
Estimated Diluted Shares Outstanding: 417.94M.
Step 3: Project Future Stock Price
Using a price ratio of 8.6, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(9.28B ÷ 417.94M) × 8.6 =
$190
Step 4: Project Future Dividends Paid
Forward dividend per share: $0.
Projected over 5 years with a growth rate of
-20.13%, dividends add to total shareholder return.
Expected dividends in 5 years:
$0.
Step 5: Discount the Projected Stock Price
Projected stock price: $190.
Including dividends, total future value: $190.
Discounted at 10% per
year over 5 years → Fair Value:
$117.
