Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
697.59M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
12.29%.
Starting with 697.59M and growing at 12.29%
for 5 years, we estimate Free Cash Flow will be
1.25B.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 370.28M.
We will project this out 5 year(s) with a growth rate
of 4.18%.
Estimated Diluted Shares Outstanding: 454.41M.
Step 3: Project Future Stock Price
Using a price ratio of 23.87, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(1.25B ÷ 454.41M) × 23.87 =
$65
Step 4: Project Future Dividends Paid
Forward dividend per share: $1.16.
Projected over 5 years with a growth rate of
35.10%, dividends add to total shareholder return.
Expected dividends in 5 years:
$12.304567870194226.
Step 5: Discount the Projected Stock Price
Projected stock price: $65.
Including dividends, total future value: $77.3.
Discounted at 10% per
year over 5 years → Fair Value:
$47.
