Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
130.79M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
23.82%.
Starting with 130.79M and growing at 23.82%
for 5 years, we estimate Free Cash Flow will be
380.65M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 180.25M.
We will project this out 5 year(s) with a growth rate
of 7.83%.
Estimated Diluted Shares Outstanding: 262.77M.
Step 3: Project Future Stock Price
Using a price ratio of 43.27, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(380.65M ÷ 262.77M) × 43.27 =
$62
Step 4: Project Future Dividends Paid
Forward dividend per share: $0.
Projected over 5 years with a growth rate of
n/a, dividends add to total shareholder return.
Expected dividends in 5 years:
$0.
Step 5: Discount the Projected Stock Price
Projected stock price: $62.
Including dividends, total future value: $62.
Discounted at 10% per
year over 5 years → Fair Value:
$38.
