Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
423.26M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
30.43%.
Starting with 423.26M and growing at 30.43%
for 5 years, we estimate Free Cash Flow will be
1.6B.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 247.14M.
We will project this out 5 year(s) with a growth rate
of 0.64%.
Estimated Diluted Shares Outstanding: 255.15M.
Step 3: Project Future Stock Price
Using a price ratio of 20.41, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(1.6B ÷ 255.15M) × 20.41 =
$127
Step 4: Project Future Dividends Paid
Forward dividend per share: $0.81.
Projected over 5 years with a growth rate of
44.05%, dividends add to total shareholder return.
Expected dividends in 5 years:
$10.08644627825683.
Step 5: Discount the Projected Stock Price
Projected stock price: $127.
Including dividends, total future value: $137.09.
Discounted at 10% per
year over 5 years → Fair Value:
$85.
