Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
502.49M
as of Jun 29, 2025.
We will project this out 5 years with a yearly growth
rate of
19.26%.
Starting with 502.49M and growing at 19.26%
for 5 years, we estimate Free Cash Flow will be
1.21B.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 97.73M.
We will project this out 5 year(s) with a growth rate
of -3.27%.
Estimated Diluted Shares Outstanding: 82.76M.
Step 3: Project Future Stock Price
Using a price ratio of 19.11, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(1.21B ÷ 82.76M) × 19.11 =
$279
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: $279.
Including dividends, total future value: $279.
Discounted at 10% per
year over 5 years → Fair Value:
$173.
