Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
202.91M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
29.26%.
Starting with 202.91M and growing at 29.26%
for 5 years, we estimate Free Cash Flow will be
732.19M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 41.46M.
We will project this out 5 year(s) with a growth rate
of 6.82%.
Estimated Diluted Shares Outstanding: 57.67M.
Step 3: Project Future Stock Price
Using a price ratio of 11.91, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(732.19M ÷ 57.67M) × 11.91 =
$151
Step 4: Project Future Dividends Paid
Forward dividend per share: $1.12.
Projected over 5 years with a growth rate of
-1.14%, dividends add to total shareholder return.
Expected dividends in 5 years:
$5.4417619835907045.
Step 5: Discount the Projected Stock Price
Projected stock price: $151.
Including dividends, total future value: $156.44.
Discounted at 10% per
year over 5 years → Fair Value:
$97.
