Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
347.7M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
-0.03%.
Starting with 347.7M and growing at -0.03%
for 5 years, we estimate Free Cash Flow will be
347.18M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 41.66M.
We will project this out 5 year(s) with a growth rate
of -2.6%.
Estimated Diluted Shares Outstanding: 36.52M.
Step 3: Project Future Stock Price
Using a price ratio of 13.79, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(347.18M ÷ 36.52M) × 13.79 =
$131
Step 4: Project Future Dividends Paid
Forward dividend per share: $1.25.
Projected over 5 years with a growth rate of
10.92%, dividends add to total shareholder return.
Expected dividends in 5 years:
$8.09850154926515.
Step 5: Discount the Projected Stock Price
Projected stock price: $131.
Including dividends, total future value: $139.1.
Discounted at 10% per
year over 5 years → Fair Value:
$86.
