Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
120.93M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
104.43%.
Starting with 120.93M and growing at 104.43%
for 5 years, we estimate Free Cash Flow will be
4.32B.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 77.6M.
We will project this out 5 year(s) with a growth rate
of -1.18%.
Estimated Diluted Shares Outstanding: 73.13M.
Step 3: Project Future Stock Price
Using a price ratio of 16.51, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(4.32B ÷ 73.13M) × 16.51 =
$974
Step 4: Project Future Dividends Paid
Forward dividend per share: $0.29.
Projected over 5 years with a growth rate of
-5.59%, dividends add to total shareholder return.
Expected dividends in 5 years:
$1.2557783641657156.
Step 5: Discount the Projected Stock Price
Projected stock price: $974.
Including dividends, total future value: $975.26.
Discounted at 10% per
year over 5 years → Fair Value:
$605.
