Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
165.76M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
10.2%.
Starting with 165.76M and growing at 10.2%
for 5 years, we estimate Free Cash Flow will be
269.39M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 79.14M.
We will project this out 5 year(s) with a growth rate
of -0.3%.
Estimated Diluted Shares Outstanding: 77.96M.
Step 3: Project Future Stock Price
Using a price ratio of 43.41, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(269.39M ÷ 77.96M) × 43.41 =
$150
Step 4: Project Future Dividends Paid
Forward dividend per share: $4.77.
Projected over 5 years with a growth rate of
17.37%, dividends add to total shareholder return.
Expected dividends in 5 years:
$35.59435641576872.
Step 5: Discount the Projected Stock Price
Projected stock price: $150.
Including dividends, total future value: $185.59.
Discounted at 10% per
year over 5 years → Fair Value:
$115.
