Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
347.52M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
-5.83%.
Starting with 347.52M and growing at -5.83%
for 5 years, we estimate Free Cash Flow will be
257.36M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 27.06M.
We will project this out 5 year(s) with a growth rate
of -1.34%.
Estimated Diluted Shares Outstanding: 25.3M.
Step 3: Project Future Stock Price
Using a price ratio of 50.41, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(257.36M ÷ 25.3M) × 50.41 =
$512
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: $512.
Including dividends, total future value: $512.
Discounted at 10% per
year over 5 years → Fair Value:
$317.
