Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
96.21M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
0.86%.
Starting with 96.21M and growing at 0.86%
for 5 years, we estimate Free Cash Flow will be
100.42M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 29.5M.
We will project this out 5 year(s) with a growth rate
of -0.62%.
Estimated Diluted Shares Outstanding: 28.59M.
Step 3: Project Future Stock Price
Using a price ratio of 48.93, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(100.42M ÷ 28.59M) × 48.93 =
$171
Step 4: Project Future Dividends Paid
Forward dividend per share: $1.34.
Projected over 5 years with a growth rate of
1.02%, dividends add to total shareholder return.
Expected dividends in 5 years:
$6.872159221579954.
Step 5: Discount the Projected Stock Price
Projected stock price: $171.
Including dividends, total future value: $177.87.
Discounted at 10% per
year over 5 years → Fair Value:
$110.
