Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
152.84M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
26.43%.
Starting with 152.84M and growing at 26.43%
for 5 years, we estimate Free Cash Flow will be
493.73M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 17.39M.
We will project this out 5 year(s) with a growth rate
of 3.28%.
Estimated Diluted Shares Outstanding: 20.44M.
Step 3: Project Future Stock Price
Using a price ratio of 34.09, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(493.73M ÷ 20.44M) × 34.09 =
$823
Step 4: Project Future Dividends Paid
Forward dividend per share: $2.45.
Projected over 5 years with a growth rate of
4.84%, dividends add to total shareholder return.
Expected dividends in 5 years:
$13.786487118925923.
Step 5: Discount the Projected Stock Price
Projected stock price: $823.
Including dividends, total future value: $836.79.
Discounted at 10% per
year over 5 years → Fair Value:
$519.
