Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
663.87M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
22.23%.
Starting with 663.87M and growing at 22.23%
for 5 years, we estimate Free Cash Flow will be
1.81B.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 2.54B.
We will project this out 5 year(s) with a growth rate
of 6.3%.
Estimated Diluted Shares Outstanding: 3.45B.
Step 3: Project Future Stock Price
Using a price ratio of 69.35, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(1.81B ÷ 3.45B) × 69.35 =
$36
Step 4: Project Future Dividends Paid
Forward dividend per share: $1.19.
Projected over 5 years with a growth rate of
n/a, dividends add to total shareholder return.
Expected dividends in 5 years:
$5.949999999999999.
Step 5: Discount the Projected Stock Price
Projected stock price: $36.
Including dividends, total future value: $41.95.
Discounted at 10% per
year over 5 years → Fair Value:
$26.
