Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
770.44M
as of Jul 31, 2025.
We will project this out 5 years with a yearly growth
rate of
92.7%.
Starting with 770.44M and growing at 92.7%
for 5 years, we estimate Free Cash Flow will be
20.47B.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 154.41M.
We will project this out 5 year(s) with a growth rate
of 3.61%.
Estimated Diluted Shares Outstanding: 184.37M.
Step 3: Project Future Stock Price
Using a price ratio of 139.5, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(20.47B ÷ 184.37M) × 139.5 =
$15489
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: $15489.
Including dividends, total future value: $15489.
Discounted at 10% per
year over 5 years → Fair Value:
$9617.
