Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
1.21B
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
9.78%.
Starting with 1.21B and growing at 9.78%
for 5 years, we estimate Free Cash Flow will be
1.93B.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 2.87M.
We will project this out 5 year(s) with a growth rate
of -3.53%.
Estimated Diluted Shares Outstanding: 2.4M.
Step 3: Project Future Stock Price
Using a price ratio of 15.08, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(1.93B ÷ 2.4M) × 15.08 =
$12123
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: $12123.
Including dividends, total future value: $12123.
Discounted at 10% per
year over 5 years → Fair Value:
$7527.
