Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
722.7M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
69.3%.
Starting with 722.7M and growing at 69.3%
for 5 years, we estimate Free Cash Flow will be
10.05B.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 101.14M.
We will project this out 5 year(s) with a growth rate
of 0.44%.
Estimated Diluted Shares Outstanding: 103.38M.
Step 3: Project Future Stock Price
Using a price ratio of 17.29, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(10.05B ÷ 103.38M) × 17.29 =
$1681
Step 4: Project Future Dividends Paid
Forward dividend per share: $6.3.
Projected over 5 years with a growth rate of
13.21%, dividends add to total shareholder return.
Expected dividends in 5 years:
$42.955871028688286.
Step 5: Discount the Projected Stock Price
Projected stock price: $1681.
Including dividends, total future value: $1723.96.
Discounted at 10% per
year over 5 years → Fair Value:
$1070.
