Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
912.6M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
0.2%.
Starting with 912.6M and growing at 0.2%
for 5 years, we estimate Free Cash Flow will be
921.76M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 28.41M.
We will project this out 5 year(s) with a growth rate
of -6.53%.
Estimated Diluted Shares Outstanding: 20.27M.
Step 3: Project Future Stock Price
Using a price ratio of 5.3, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(921.76M ÷ 20.27M) × 5.3 =
$241
Step 4: Project Future Dividends Paid
Forward dividend per share: $0.04.
Projected over 5 years with a growth rate of
-38.82%, dividends add to total shareholder return.
Expected dividends in 5 years:
$0.058553610207162654.
Step 5: Discount the Projected Stock Price
Projected stock price: $241.
Including dividends, total future value: $241.06.
Discounted at 10% per
year over 5 years → Fair Value:
$149.
