Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
52.8M
as of Jun 30, 2023.
We will project this out 5 years with a yearly growth
rate of
11.82%.
Starting with 52.8M and growing at 11.82%
for 5 years, we estimate Free Cash Flow will be
92.3M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 83.16M.
We will project this out 5 year(s) with a growth rate
of 2.35%.
Estimated Diluted Shares Outstanding: 93.4M.
Step 3: Project Future Stock Price
Using a price ratio of 690.38, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(92.3M ÷ 93.4M) × 690.38 =
$682
Step 4: Project Future Dividends Paid
Forward dividend per share: $0.
Projected over 5 years with a growth rate of
n/a, dividends add to total shareholder return.
Expected dividends in 5 years:
$0.
Step 5: Discount the Projected Stock Price
Projected stock price: $682.
Including dividends, total future value: $682.
Discounted at 10% per
year over 5 years → Fair Value:
$423.
