Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
600.42M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
20.39%.
Starting with 600.42M and growing at 20.39%
for 5 years, we estimate Free Cash Flow will be
1.52B.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 96.8M.
We will project this out 5 year(s) with a growth rate
of -1.05%.
Estimated Diluted Shares Outstanding: 91.82M.
Step 3: Project Future Stock Price
Using a price ratio of 356.33, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(1.52B ÷ 91.82M) × 356.33 =
$5892
Step 4: Project Future Dividends Paid
Forward dividend per share: $1.75.
Projected over 5 years with a growth rate of
4.10%, dividends add to total shareholder return.
Expected dividends in 5 years:
$9.674641407954.
Step 5: Discount the Projected Stock Price
Projected stock price: $5892.
Including dividends, total future value: $5901.67.
Discounted at 10% per
year over 5 years → Fair Value:
$3664.
