Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
325.97M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
30.68%.
Starting with 325.97M and growing at 30.68%
for 5 years, we estimate Free Cash Flow will be
1.24B.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 106.11M.
We will project this out 5 year(s) with a growth rate
of -0.87%.
Estimated Diluted Shares Outstanding: 101.58M.
Step 3: Project Future Stock Price
Using a price ratio of 19.12, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(1.24B ÷ 101.58M) × 19.12 =
$233
Step 4: Project Future Dividends Paid
Forward dividend per share: $0.57.
Projected over 5 years with a growth rate of
n/a, dividends add to total shareholder return.
Expected dividends in 5 years:
$2.8499999999999996.
Step 5: Discount the Projected Stock Price
Projected stock price: $233.
Including dividends, total future value: $235.85.
Discounted at 10% per
year over 5 years → Fair Value:
$146.
