Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
114.46M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
73.12%.
Starting with 114.46M and growing at 73.12%
for 5 years, we estimate Free Cash Flow will be
1.78B.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 37.5M.
We will project this out 5 year(s) with a growth rate
of 1.87%.
Estimated Diluted Shares Outstanding: 41.14M.
Step 3: Project Future Stock Price
Using a price ratio of 3.59, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(1.78B ÷ 41.14M) × 3.59 =
$155
Step 4: Project Future Dividends Paid
Forward dividend per share: $0.55.
Projected over 5 years with a growth rate of
2.38%, dividends add to total shareholder return.
Expected dividends in 5 years:
$2.9165572574950387.
Step 5: Discount the Projected Stock Price
Projected stock price: $155.
Including dividends, total future value: $157.92.
Discounted at 10% per
year over 5 years → Fair Value:
$98.
