Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
362.01M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
43.93%.
Starting with 362.01M and growing at 43.93%
for 5 years, we estimate Free Cash Flow will be
2.24B.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 394.48M.
We will project this out 5 year(s) with a growth rate
of 7.63%.
Estimated Diluted Shares Outstanding: 569.76M.
Step 3: Project Future Stock Price
Using a price ratio of 29.22, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(2.24B ÷ 569.76M) × 29.22 =
$114
Step 4: Project Future Dividends Paid
Forward dividend per share: $0.02.
Projected over 5 years with a growth rate of
-1.11%, dividends add to total shareholder return.
Expected dividends in 5 years:
$0.09724805907703325.
Step 5: Discount the Projected Stock Price
Projected stock price: $114.
Including dividends, total future value: $114.1.
Discounted at 10% per
year over 5 years → Fair Value:
$70.
