Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
581.13M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
33.29%.
Starting with 581.13M and growing at 33.29%
for 5 years, we estimate Free Cash Flow will be
2.44B.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 183.66M.
We will project this out 5 year(s) with a growth rate
of 12.76%.
Estimated Diluted Shares Outstanding: 334.8M.
Step 3: Project Future Stock Price
Using a price ratio of 11.19, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(2.44B ÷ 334.8M) × 11.19 =
$81
Step 4: Project Future Dividends Paid
Forward dividend per share: $1.08.
Projected over 5 years with a growth rate of
2.06%, dividends add to total shareholder return.
Expected dividends in 5 years:
$5.682411359061335.
Step 5: Discount the Projected Stock Price
Projected stock price: $81.
Including dividends, total future value: $86.68.
Discounted at 10% per
year over 5 years → Fair Value:
$53.
