Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
153.5M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
38.44%.
Starting with 153.5M and growing at 38.44%
for 5 years, we estimate Free Cash Flow will be
780.58M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 321.87M.
We will project this out 5 year(s) with a growth rate
of -0.01%.
Estimated Diluted Shares Outstanding: 321.71M.
Step 3: Project Future Stock Price
Using a price ratio of 286.91, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(780.58M ÷ 321.71M) × 286.91 =
$696
Step 4: Project Future Dividends Paid
Forward dividend per share: $4.35.
Projected over 5 years with a growth rate of
1.14%, dividends add to total shareholder return.
Expected dividends in 5 years:
$22.37518498681866.
Step 5: Discount the Projected Stock Price
Projected stock price: $696.
Including dividends, total future value: $718.38.
Discounted at 10% per
year over 5 years → Fair Value:
$446.
