Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
935.75M
as of Jul 31, 2025.
We will project this out 5 years with a yearly growth
rate of
83.99%.
Starting with 935.75M and growing at 83.99%
for 5 years, we estimate Free Cash Flow will be
19.73B.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 201.11M.
We will project this out 5 year(s) with a growth rate
of 3.55%.
Estimated Diluted Shares Outstanding: 239.43M.
Step 3: Project Future Stock Price
Using a price ratio of 62.5, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(19.73B ÷ 239.43M) × 62.5 =
$5150
Step 4: Project Future Dividends Paid
Forward dividend per share: $0.
Projected over 5 years with a growth rate of
n/a, dividends add to total shareholder return.
Expected dividends in 5 years:
$0.
Step 5: Discount the Projected Stock Price
Projected stock price: $5150.
Including dividends, total future value: $5150.
Discounted at 10% per
year over 5 years → Fair Value:
$3197.
