Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
780.5M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
30.53%.
Starting with 780.5M and growing at 30.53%
for 5 years, we estimate Free Cash Flow will be
2.96B.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 241.79M.
We will project this out 5 year(s) with a growth rate
of 17.39%.
Estimated Diluted Shares Outstanding: 539M.
Step 3: Project Future Stock Price
Using a price ratio of 2.09, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(2.96B ÷ 539M) × 2.09 =
$11
Step 4: Project Future Dividends Paid
Forward dividend per share: $1.19.
Projected over 5 years with a growth rate of
25.86%, dividends add to total shareholder return.
Expected dividends in 5 years:
$10.573926426586228.
Step 5: Discount the Projected Stock Price
Projected stock price: $11.
Including dividends, total future value: $21.57.
Discounted at 10% per
year over 5 years → Fair Value:
$13.
