Loading verified market, valuation, and statement data.
2. Company Fundamentals
2.1 Competitiveness
| Metric |
Value |
| Operating Margins |
78.15% |
| Profit Margins |
64.29% |
| Return on Equity |
266.44% |
| Return on Assets |
44.24% |
| Free Float |
0.24B |
| Short Int % Utilisation |
4.39% |
2.2 Growth
| Metric |
Value |
| Revenue Growth |
59.0% |
| Free Cash Flow |
3.18B |
| EBITDA |
34.22 (Ratio) |
| Enterprise Value |
166.7B |
| EV/Revenue |
27.04 |
| EV/EBITDA |
34.22 |
Revenue growth of 59.0% places the company in a high-growth category.
2.3 Management
| Role |
Metric |
| Consensus Rating |
N/A |
2.4 Return
| Metric |
Value |
| Expected Return (Ann.)* |
-4.32% |
| Risk / Std Dev (Ann.)* |
74.81% |
| 1-Year Price Return* |
-28.09% |
Latest Market Data (as of 2026-08-14, US Eastern time):
| Metric |
Value |
| Last Price |
$315.44 |
| 52-Week Range |
$303.17 – $745.61 |
| Observation Count |
251 trading days |
The return and risk statistics use daily adjusted closes from the retrieved one-year series and annualise daily moments using 252 trading days. The last price is the latest regular-market price reported for the stated date. Source: Yahoo Finance market data.
2.5 FCFF DCF Valuation
Valuation basis: This research model follows a five-year, unlevered FCFF DCF. It starts from reported annual operating inputs, forecasts revenue and operating cash conversion under an explicit mechanical policy, discounts FCFF at WACC, applies a Gordon-growth terminal value, and bridges enterprise value to an indicative common-equity value per share. It is an analytical estimate rather than a recommendation or personalised target price.
Step 1 — Forecast Operating Profit and NOPAT
| Reported operating input |
Value |
| Revenue |
$5.48B |
| Prior annual revenue |
$3.22B |
| EBIT |
$4.16B |
| Tax rate |
13.15% |
| NOPAT = EBIT × (1 − tax rate) |
$3.61B |
| Forecast start-growth basis |
15.00% |
| Forecast policy |
latest reported annual revenue growth, bounded to -10.00% / 15.00% |
Step 2 — Calculate FCFF
| Current FCFF building block |
Value |
| NOPAT |
$3.61B |
| Add: depreciation & amortisation |
$194.78M |
| Less: capital expenditure |
-$28.32M |
| Less/(add): working-capital cash-flow movement |
$77.92M |
| Current unlevered FCFF |
$3.86B |
Explicit FCFF forecast
| Forecast year |
Revenue growth |
NOPAT |
D&A |
Capex |
Change in NWC |
FCFF |
Present value |
| 1 |
15.00% |
$4.15B |
$223.99M |
-$32.57M |
$89.61M |
$4.44B |
$4.08B |
| 2 |
11.88% |
$4.65B |
$250.59M |
-$89.97M |
$100.25M |
$4.91B |
$3.82B |
| 3 |
8.75% |
$5.06B |
$272.52M |
-$156.07M |
$109.02M |
$5.28B |
$3.48B |
| 4 |
5.62% |
$5.34B |
$287.85M |
-$226.35M |
$115.16M |
$5.52B |
$3.07B |
| 5 |
2.50% |
$5.47B |
$295.05M |
-$295.05M |
$118.04M |
$5.59B |
$2.64B |
Step 3 — Determine the Discount Rate (WACC)
| WACC input |
Value |
| Risk-free rate |
4.71% |
| Equity risk premium assumption |
5.50% |
| Beta |
2.53 |
| Cost of equity |
18.62% |
| Pre-tax cost of debt |
5.83% |
| WACC |
18.18% |
| WACC validation |
requires assumption review |
Step 4 — Estimate Terminal Value
| Terminal-value input |
Value |
| Perpetuity growth rate |
2.50% |
| Terminal value |
$36.55B |
| Implied terminal EV / EBITDA |
5.54x |
| Terminal value as % of enterprise value |
48.13% |
Step 5 — Discount Cash Flows to Enterprise Value
| Enterprise-value component |
Value |
| Present value of explicit FCFF |
$17.09B |
| Present value of terminal value |
$15.86B |
| Indicated enterprise value |
$32.95B |
| Discounting convention |
mid-year for explicit FCFF; terminal value discounted at year-end five |
Step 6 — Convert Enterprise Value to Equity Value
| Equity bridge |
Value |
| Indicated enterprise value |
$32.95B |
| Less: gross interest-bearing debt |
$3.54B |
| Add: cash and equivalents |
$2.49B |
| Add: affiliate investments |
$0.00 |
| Less: minority interests |
$0.00 |
| Indicated common equity value |
$31.89B |
Step 7 — Calculate Indicative Value Per Share
| Per-share output |
Value |
| Shares used |
341,970,000.00 |
| Share-count basis |
reported diluted weighted-average shares |
| Current market price |
$311.68 |
| DCF indicative value per share |
$93.26 |
| Indicative value vs. market price |
-70.08% |
Model Integrity Checks
| Check |
Result |
| Perpetuity growth is below the risk-free rate |
pass |
| Perpetuity growth is below WACC |
pass |
| WACC is within the configured operating-company range |
review required |
| Terminal-year FCFF is positive |
pass |
| Terminal capex converges to D&A |
pass |
| Terminal-value concentration |
review required |
| Implied price differs from spot by more than 30% |
review required |
2.6 Investor-Style Research Screen
| Educational screen |
Result |
| Buffett-inspired cash-quality checks |
4/4 evidenced checks |
| Lynch-inspired balance-and-growth checks |
4/4 evidenced checks |