Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
346.15M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
44.51%.
Starting with 346.15M and growing at 44.51%
for 5 years, we estimate Free Cash Flow will be
2.18B.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 86.27M.
We will project this out 5 year(s) with a growth rate
of 2.25%.
Estimated Diluted Shares Outstanding: 96.42M.
Step 3: Project Future Stock Price
Using a price ratio of 19.49, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(2.18B ÷ 96.42M) × 19.49 =
$440
Step 4: Project Future Dividends Paid
Forward dividend per share: $5.53.
Projected over 5 years with a growth rate of
0.98%, dividends add to total shareholder return.
Expected dividends in 5 years:
$28.332412196304006.
Step 5: Discount the Projected Stock Price
Projected stock price: $440.
Including dividends, total future value: $468.33.
Discounted at 10% per
year over 5 years → Fair Value:
$290.
