Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
909M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
14.65%.
Starting with 909M and growing at 14.65%
for 5 years, we estimate Free Cash Flow will be
1.8B.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 371.36M.
We will project this out 5 year(s) with a growth rate
of 0.72%.
Estimated Diluted Shares Outstanding: 384.93M.
Step 3: Project Future Stock Price
Using a price ratio of 8.28, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(1.8B ÷ 384.93M) × 8.28 =
$38
Step 4: Project Future Dividends Paid
Forward dividend per share: $0.58.
Projected over 5 years with a growth rate of
54.14%, dividends add to total shareholder return.
Expected dividends in 5 years:
$8.554337573950642.
Step 5: Discount the Projected Stock Price
Projected stock price: $38.
Including dividends, total future value: $46.55.
Discounted at 10% per
year over 5 years → Fair Value:
$28.
