Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
341.58M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
5.49%.
Starting with 341.58M and growing at 5.49%
for 5 years, we estimate Free Cash Flow will be
446.23M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 65.88M.
We will project this out 5 year(s) with a growth rate
of 0.46%.
Estimated Diluted Shares Outstanding: 67.41M.
Step 3: Project Future Stock Price
Using a price ratio of 52.25, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(446.23M ÷ 67.41M) × 52.25 =
$345
Step 4: Project Future Dividends Paid
Forward dividend per share: $2.28.
Projected over 5 years with a growth rate of
4.91%, dividends add to total shareholder return.
Expected dividends in 5 years:
$12.851300208825533.
Step 5: Discount the Projected Stock Price
Projected stock price: $345.
Including dividends, total future value: $357.85.
Discounted at 10% per
year over 5 years → Fair Value:
$222.
