Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
148.24M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
15.44%.
Starting with 148.24M and growing at 15.44%
for 5 years, we estimate Free Cash Flow will be
303.92M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 30.95M.
We will project this out 5 year(s) with a growth rate
of 1.07%.
Estimated Diluted Shares Outstanding: 32.65M.
Step 3: Project Future Stock Price
Using a price ratio of 82.19, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(303.92M ÷ 32.65M) × 82.19 =
$765
Step 4: Project Future Dividends Paid
Forward dividend per share: $1.
Projected over 5 years with a growth rate of
-5.59%, dividends add to total shareholder return.
Expected dividends in 5 years:
$4.330270221261089.
Step 5: Discount the Projected Stock Price
Projected stock price: $765.
Including dividends, total future value: $769.33.
Discounted at 10% per
year over 5 years → Fair Value:
$477.
