Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
501.3M
as of Jun 14, 2025.
We will project this out 5 years with a yearly growth
rate of
11.81%.
Starting with 501.3M and growing at 11.81%
for 5 years, we estimate Free Cash Flow will be
875.99M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 559.85M.
We will project this out 5 year(s) with a growth rate
of 0.12%.
Estimated Diluted Shares Outstanding: 563.21M.
Step 3: Project Future Stock Price
Using a price ratio of 14.31, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(875.99M ÷ 563.21M) × 14.31 =
$22
Step 4: Project Future Dividends Paid
Forward dividend per share: $0.69.
Projected over 5 years with a growth rate of
35.10%, dividends add to total shareholder return.
Expected dividends in 5 years:
$7.319096405546566.
Step 5: Discount the Projected Stock Price
Projected stock price: $22.
Including dividends, total future value: $29.32.
Discounted at 10% per
year over 5 years → Fair Value:
$18.
