Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
551.45M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
30.34%.
Starting with 551.45M and growing at 30.34%
for 5 years, we estimate Free Cash Flow will be
2.07B.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 55.69M.
We will project this out 5 year(s) with a growth rate
of 3.49%.
Estimated Diluted Shares Outstanding: 66.11M.
Step 3: Project Future Stock Price
Using a price ratio of 51.11, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(2.07B ÷ 66.11M) × 51.11 =
$1603
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: $1603.
Including dividends, total future value: $1603.
Discounted at 10% per
year over 5 years → Fair Value:
$995.
