Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
768.57M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
27.65%.
Starting with 768.57M and growing at 27.65%
for 5 years, we estimate Free Cash Flow will be
2.6B.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 845.97M.
We will project this out 5 year(s) with a growth rate
of -0.15%.
Estimated Diluted Shares Outstanding: 839.65M.
Step 3: Project Future Stock Price
Using a price ratio of 24.93, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(2.6B ÷ 839.65M) × 24.93 =
$77
Step 4: Project Future Dividends Paid
Forward dividend per share: $0.
Projected over 5 years with a growth rate of
-8.31%, dividends add to total shareholder return.
Expected dividends in 5 years:
$0.
Step 5: Discount the Projected Stock Price
Projected stock price: $77.
Including dividends, total future value: $77.
Discounted at 10% per
year over 5 years → Fair Value:
$47.
