Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
294.2M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
2.7%.
Starting with 294.2M and growing at 2.7%
for 5 years, we estimate Free Cash Flow will be
336.12M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 49.04M.
We will project this out 5 year(s) with a growth rate
of 0.16%.
Estimated Diluted Shares Outstanding: 49.44M.
Step 3: Project Future Stock Price
Using a price ratio of 25.23, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(336.12M ÷ 49.44M) × 25.23 =
$171
Step 4: Project Future Dividends Paid
Forward dividend per share: $0.25.
Projected over 5 years with a growth rate of
n/a, dividends add to total shareholder return.
Expected dividends in 5 years:
$1.25.
Step 5: Discount the Projected Stock Price
Projected stock price: $171.
Including dividends, total future value: $172.25.
Discounted at 10% per
year over 5 years → Fair Value:
$106.
