Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
88.37M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
81.84%.
Starting with 88.37M and growing at 81.84%
for 5 years, we estimate Free Cash Flow will be
1.76B.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 154.16M.
We will project this out 5 year(s) with a growth rate
of 3.25%.
Estimated Diluted Shares Outstanding: 180.9M.
Step 3: Project Future Stock Price
Using a price ratio of 32.39, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(1.76B ÷ 180.9M) × 32.39 =
$314
Step 4: Project Future Dividends Paid
Forward dividend per share: $3.19.
Projected over 5 years with a growth rate of
-5.42%, dividends add to total shareholder return.
Expected dividends in 5 years:
$13.87582971744322.
Step 5: Discount the Projected Stock Price
Projected stock price: $314.
Including dividends, total future value: $327.88.
Discounted at 10% per
year over 5 years → Fair Value:
$203.
