Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
263.6M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
17.47%.
Starting with 263.6M and growing at 17.47%
for 5 years, we estimate Free Cash Flow will be
589.64M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 34.58M.
We will project this out 5 year(s) with a growth rate
of -0.19%.
Estimated Diluted Shares Outstanding: 34.26M.
Step 3: Project Future Stock Price
Using a price ratio of 14.01, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(589.64M ÷ 34.26M) × 14.01 =
$241
Step 4: Project Future Dividends Paid
Forward dividend per share: $2.4.
Projected over 5 years with a growth rate of
-11.42%, dividends add to total shareholder return.
Expected dividends in 5 years:
$8.861769221265515.
Step 5: Discount the Projected Stock Price
Projected stock price: $241.
Including dividends, total future value: $249.86.
Discounted at 10% per
year over 5 years → Fair Value:
$155.
