Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
53.89M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
5.19%.
Starting with 53.89M and growing at 5.19%
for 5 years, we estimate Free Cash Flow will be
69.4M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 38.12M.
We will project this out 5 year(s) with a growth rate
of 2.07%.
Estimated Diluted Shares Outstanding: 42.23M.
Step 3: Project Future Stock Price
Using a price ratio of 489.67, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(69.4M ÷ 42.23M) × 489.67 =
$804
Step 4: Project Future Dividends Paid
Forward dividend per share: $2.1.
Projected over 5 years with a growth rate of
-5.59%, dividends add to total shareholder return.
Expected dividends in 5 years:
$9.093567464648286.
Step 5: Discount the Projected Stock Price
Projected stock price: $804.
Including dividends, total future value: $813.09.
Discounted at 10% per
year over 5 years → Fair Value:
$504.
