Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
496.32M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
55.35%.
Starting with 496.32M and growing at 55.35%
for 5 years, we estimate Free Cash Flow will be
4.49B.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 216.83M.
We will project this out 5 year(s) with a growth rate
of -0.14%.
Estimated Diluted Shares Outstanding: 215.31M.
Step 3: Project Future Stock Price
Using a price ratio of 89.8, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(4.49B ÷ 215.31M) × 89.8 =
$1872
Step 4: Project Future Dividends Paid
Forward dividend per share: $2.58.
Projected over 5 years with a growth rate of
n/a, dividends add to total shareholder return.
Expected dividends in 5 years:
$12.9.
Step 5: Discount the Projected Stock Price
Projected stock price: $1872.
Including dividends, total future value: $1884.9.
Discounted at 10% per
year over 5 years → Fair Value:
$1170.
