Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
476.45M
as of Jun 27, 2025.
We will project this out 5 years with a yearly growth
rate of
33.54%.
Starting with 476.45M and growing at 33.54%
for 5 years, we estimate Free Cash Flow will be
2.02B.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 86.89M.
We will project this out 5 year(s) with a growth rate
of -0.79%.
Estimated Diluted Shares Outstanding: 83.51M.
Step 3: Project Future Stock Price
Using a price ratio of 16.02, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(2.02B ÷ 83.51M) × 16.02 =
$388
Step 4: Project Future Dividends Paid
Forward dividend per share: $1.05.
Projected over 5 years with a growth rate of
49.63%, dividends add to total shareholder return.
Expected dividends in 5 years:
$14.378248763980872.
Step 5: Discount the Projected Stock Price
Projected stock price: $388.
Including dividends, total future value: $402.38.
Discounted at 10% per
year over 5 years → Fair Value:
$249.
